Alaska Hydro And 2 Canadian Renewable Energy Stocks To Watch

Oil prices sit at elevated levels as shipping attacks raise fresh questions about the reliability of fossil fuel supply routes. That pushes energy security back into focus and puts Canadian renewable power producers on more investor radar screens. If you care about long term cash flows tied to wind, solar, hydro or tidal assets instead of tanker routes, this piece walks through three Canadian renewable stocks pulled from a focused screener.

The stocks covered below are just a starting sample from this renewable energy idea. The full screen surfaced 7 more solar, wind, hydro and tidal companies with equally compelling narratives that are not discussed in this article. To go deeper, head straight into the Renewable (solar, wind, hydro or tidal) Energy screener to identify, compare and analyze the highest conviction candidates for your watchlist.

Alaska Hydro (TSXV:AKH.H)

Overview: Alaska Hydro focuses on developing the More Creek hydroelectric project in northwest British Columbia, giving investors direct exposure to pure-play hydro power.

Market Cap: CA$0.77 million

Alaska Hydro provides focused hydro exposure through the More Creek project. The business is still pre-revenue and loss making, and it is reliant on fresh funding to move from design into construction, so much depends on how one unresolved financing pressure is resolved.

That funding question looms large, so the Alaska Hydro financial health report to see how Alaska Hydro’s balance sheet and runway stack up before any construction decision.

Gencan Capital (CNSX:GCA.X)

Overview: Gencan Capital is a Toronto based micro cap that previously ran solar power projects through predecessor Genterra Energy, but today reports no significant ongoing operations.

Market Cap: CA$1.52 million

Gencan Capital still carries a solar backstory that links it to this renewable energy screen. However, current activity and revenue are minimal, losses continue, and balance sheet pressure is high. Any return to active clean power projects would depend on how one unresolved funding and liquidity constraint is eventually addressed.

That turning point hinges on the numbers, so go straight to the Gencan Capital financial health report to see whether Gencan Capital’s balance sheet can realistically support any restart in activity.

Northland Power (TSX:NPI)

Overview: Northland Power develops and operates large scale offshore and onshore wind, solar and storage projects, selling electricity under long term contracts worldwide.

Operations: Most revenue comes from International Offshore Wind at about CA$1.25b, with meaningful contributions from Americas utilities and natural gas operations.

Market Cap: CA$6.06 billion

Northland Power matters in this renewable energy screen because its large offshore wind and grid scale storage projects directly plug into decarbonisation and grid reliability themes.

"The successful early completion and strong initial performance of the Oneida battery storage project, alongside the construction progress of the Jurassic storage facility, positions Northland as a first mover in grid-scale storage, an area benefiting from accelerating electrification and the increasing need for grid reliability."

What happens to future margins and cash yields will depend heavily on how one large funding and debt pressure is managed.

That funding pressure is only part of the story, and the full narrative for Northland Power connects Northland Power’s storage build out with how management aims to keep growth accelerating while managing that debt load.

Seeking Alternatives Beyond Renewables?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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