Do you have $1000? These super-fast growth stocks could deliver returns of more than 300% by 2034.

Brookfield Renewable (BEP 1.49%) (BEPC 0.98%) has stayed AND fantastic growth warehouse for years. Since 2016, the world’s leading renewable energy producer has achieved 12% compound annual growth in funds from operations (FFO) per share. Rapidly growing earnings have helped deliver 6% compound annual dividend growth over the past two decades.

The renewable energy company has very visible growth prospects, most of which it has already secured. This allows him to produce powerful total returns over the next one 10 years.

Quartet of growth factors

Brookfield’s core business is the generation of renewable energy. It sells most of this power to utilities and large corporate buyers under long-term power purchase agreements (PPAs) – 90% of its capacity with a weighted average remaining term of 13 years. About 70% of these contracts link revenues to inflation. Thanks to this, the company generates Very stable and constantly growing cash flows. He estimates that inflation escalation clauses will provide 2% to 3% annual FFO growth per share.

The company expects to generate another 2% to 4% annual FFO per share growth through margin expansion. One option is to lock in higher energy rates when older PPAs expire. The company believes that over the next five years, renewal alone could increase its FFO by approximately 2% per share per year.

It also invests intensively in development. The company plans to deliver 10 gigawatts (GW) of additional renewable energy generation capacity annually for several years. It has extensive resources to support this growth, including 65 GW of advanced stage projects and over 200 GW of capacity.

The company sees high demand for renewable energy. For example, it recently signed a five-year agreement to develop 10.5 GW of capacity for Microsoftwhich will be implemented in the years 2026–2030. Growth projects should add another 4-6% to FFO per share each year.

Finally, Brookfield Renewable has a strong track record of successful mergers and acquisitions (M&A). The company and its partners have invested $30 billion of capital in mergers and acquisitions in the last five years and volhey, I recently agreed to buy a French renewable energy developer Neoen in a deal valued at $10 billion. Given that its current M&A pipeline is around $100 billion, it should have plenty of opportunities to increase its growth through acquisitions.

Strong total return potential

Brookfield’s organic drivers alone should deliver an additional 8-13% of annual FFO per share through at least 2029. This growth is very visible and secured. Meanwhile, given long-term contracts, re-contracting potential and growth plans, it is gaining increasing visibility of its safe growth through 2034.

Add to that growing mergers and acquisitions, and Brookfield has it facial confident it can deliver over 10% annual FFO per share growth over the next decade.

This should easily support the plan to increase yields to over 4%. dividend by 5–9% per year. The company increased its payout by at least 5%. last 13 consecutive years.

With earnings growing more than 10% annually and a dividend yield exceeding 4%, Brookfield Renewable can generate an average annual total return of 15% or more. At this rate, an investment could turn $1,000 into over $4,000 by 2034, a total return of over 300%.

A powerful perspective

Brookfield Renewable is increasingly confident in its ability to grow its business rapidly in the coming decade. This should give it enough strength to continue growing its high-yielding dividend. These catalysts support the view that the company can generate solid total returns over the next decade and thus great supplies to buy right now.