The global energy transition is ongoing, with a shift away from carbon-intensive fuels towards cleaner alternatives taking place over decades. In the U.S., wind power is expected to increase fivefold and solar power sevenfold by 2050.
Brookfield Renewable (NYSE: BEP, BEPC), controlled by Brookfield Asset Management, operates across the clean energy spectrum, including hydroelectric, solar, wind, and battery storage. The company offers a dividend yield of up to 6.2%, appealing to dividend investors as it plans to capitalize on the projected growth in clean energy.
Despite recent struggles due to diminished excitement for clean energy investments and a lack of government support, Brookfield Renewable is expected to grow, bolstered by long-term contractual agreements and the financial backing of its parent company, which aims to double its investment in clean energy over the next five years.
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