5 Renewable Energy Stocks on the TSX

Market cap: C$6.92 billion; current share price: C$38.85

Brookfield Renewable Partners is one of the world’s largest publicly traded renewable power companies. It sells the bulk of its power production under long-term, fixed-rate power purchase agreements.

Brookfield Renewable’s expansive asset portfolio includes hydroelectric, wind and solar energy generation facilities, as well as energy storage assets. This translates into roughly 21,000 megawatts (MW) of capacity and nearly 6,000 generating facilities across North America, South America, Europe and Asia.

Market cap: C$6.2 billion; current share price: C$24.18

This TSX renewable energy stock is one of Canada’s first independent power producers. Northland Power has vast clean and green global power infrastructure assets in Canada, as well as in Asia, Europe and Latin America. These assets include clean-burning natural gas and renewable resources such as wind, solar and efficient natural gas.

Northland Power’s 13 Canadian solar sites are located across Ontario, hosting around 600,000 solar panels and producing nearly 200 gigawatt hours (GWh) per year. The company has more than 200 turbines that operate across four onshore wind farms in Ontario and Saskatchewan and generate 3,787 GWh annually.

Market cap: C$3.21 billion; current share price: C$31.71

Third on this list of TSX renewable energy stocks is Boralex, which produces renewable wind, solar, hydroelectric and thermal energy in Canada, France and the US. The company is France’s largest independent producer of onshore wind power. In Canada, Boralex has 21 wind projects across Quebec, Alberta, Ontario and BC; nine hydroelectric projects across Quebec, Ontario and BC; one solar project in Ontario; and one thermal project in Quebec.

Boralex's plan for 2021 to 2025 will see the company invest US$6 billion to roughly double its capacity by adding 4,400 MW.

Market cap: C$2.52 billion; current share price: C$12.48

TSX renewable energy stock Innergex Renewable Energy develops and operates run-of-river hydroelectric facilities, wind energy operations, solar farms and energy storage facilities in North America, France and Chile.

Some of the company’s most notable Canadian renewable energy assets include the Viger-Denonville community wind farm in Quebec, which consists of 12 wind turbines with a total gross installed capacity of 24.6 MW. Innergex also has the ECOLOGO-certified Upper Lillooet River hydroelectric project in BC, as well as the Umbata Falls run-of-river hydroelectric plant, which is located on the White River tributary of Lake Superior in Ontario.

Market cap: C$2.52 billion; current share price: C$12.48

Ballard Power Systems, a global leader in hydrogen fuel cell technology, develops and manufactures proton-exchange membrane fuel cell products that create electrical energy from the combination of hydrogen and air. The company's products are designed for heavy-duty trucks, buses, trains and marine applications, as well as backup power storage.

Ballard is supplying hydrogen fuel cell modules to global carbon-reduction company First Mode for use in hybrid hydrogen and battery ultra-class mining haul trucks.