Despite a flurry of political events, virus news, and protests, an issue that has kept consistent is Climate Change. And throughout this all, many companies aimed to keep at their mission to improve the environment. One of these methods is Renewable energy, and recently investment into this area has been on the rise globally. Why is this rise occurring? Well besides the fact that Climate Change is an issue more people are starting to care about, many analysts point towards the expectation that President-elect Joe Biden will return to the Paris global climate accords and will expand investment in greener energy sources.
Recently progress has materialized overseas with the South Korean conglomerate the “SK Group” planning a $1.5 billion investment into a joint venture with Plug Power (PLUG) to expand hydrogen energy in Asia.
Plug Power is a company that has been around for over a decade and has aimed to boost hydrogen energy as a power-source. The ramification of this joint venture was immensely positive for Plug Power with blasting off nearly 30% on the stock market today, the highest levels seen since December 2007. Do you think renewable energy will continue to expand? And will Hydrogen Power really be the key? Or will other energy sources dominate?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.