These high-yielding renewable energy stocks offer an attractive dividend and significant growth potential

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As the world continues to embrace solar and wind energy as viable energy sources, the global renewable energy market is growing at an exponential rate. In 2023, renewable energy accounted for a record 30% of global electricity.

The International Energy Agency (IEA) predicts that by 2025, renewable energy will overtake coal to become the world’s leading source of electricity. Renewable energy stocks have increased significantly as stakeholders around the world continue to invest trillions of US dollars in clean energy.

The S&P 500 energy sector has gained 17% this year, becoming the second best performing category.

Brookfield Renewable (NYSE:BEP) is a top analyst pick for the best renewable energy dividend-paying growth stocks to buy in 2024. With a market capitalization of $7.50 billion, the Canadian limited partnership ranks as the eighth-largest renewable energy company in the world .

Brookfield Renewable’s share price is up 37% from its 52-week low, with most of the gains coming in the last few weeks. The gains are driven by a strong balance sheet, high-quality partnerships and a $4.4 billion liquidity position.

The company recently entered into a $10 billion partnership with Microsoft to bring more than 10.5 gigawatts of renewable capacity to Europe and the US between 2026 and 2030.

Brookfield Renewable’s strong fundamentals make it a strong buy for growth and income investors. Despite massive investments in growth, the stock has been paying quarterly dividends since 2020, achieving an impressive annual dividend growth rate of 6%. Brookfield Renewable has a final dividend yield of 5.50% and a forward dividend yield of 5.50%.

The company sells the energy produced under long-term fixed-rate power purchase agreements (PPAs), with most sales agreements concluded for an average of 13 years. These long-term contracts ensure business stability throughout all market cycles.

Looking for more high-yield investments? Consider this alternative option

While Brookfield Renewable is an attractive investment opportunity for those seeking growth and income in the renewable energy sector, investors should also consider alternative investments that offer high yields and short-term liquidity. One such possibility is Alpine notes from Basecamp with EquityMultiple.

Basecamp Alpine Notes is an innovative investment product designed to provide investors with a powerful short-term cash management tool. With a target APR of 9.00% over 3 months and a minimum investment of just $1,000, these bonds offer an attractive combination of high returns and flexibility.

The story continues

What sets Basecamp Alpine Notes apart is their exclusive availability for beginner investors on the EquityMultiple platform. This means that new investors have a unique opportunity to take advantage of favorable conditions and start building their real estate portfolio with low-risk, high-return investments.

Another key advantage of Basecamp Alpine Notes is its smoothness. Unlike many real estate investments that require long holding periods, these bonds allow investors to access funds after just three months. This makes them an ideal choice for investors looking to balance their portfolios with a combination of long-term growth and short-term liquidity.

With a proven track record of meeting all payment and financing obligations and over 79% of investors choosing to reinvest, EquityMultiple has established itself as a trusted partner for investors looking to diversify their portfolios with alternative investments.

Click here to learn more about how to increase your portfolio yield with Basecamp Alpine Notes.

While renewable energy stocks like Brookfield Renewable offer attractive growth and income opportunities, investors should also consider alternative investments like Basecamp Alpine Notes from EquityMultiple. By diversifying their portfolios through a combination of long-term growth and short-term liquidity, investors can create a more resilient and sustainable approach to building wealth in any market condition.

This article These High-Yielding Renewable Energy Stocks Offer Attractive Dividends and Significant Growth Potential originally appeared on Benzinga.com