Clean energy stocks are approaching a floor after European austerity measures and cheap U.S. natural-gas pushed wind and solar companies lower, Impax Asset Management Ltd. said.
The industry offers value for investors after the WilderHill New Energy Index fell 20 percent this year, investment manager Lee Clements said. Vestas Wind Systems A/S, the world’s biggest wind turbine maker, this week fell to its lowest level in more than five years and Trina Solar Ltd., the No. 4 solar cell maker, is down 36 percent this year.
