Energy & Science
Clean-Energy Stocks Surge as War Spurs Push Away From Russia
- U.S., Europe could speed renewables push to cut gas dependence
- Wind energy is set to play a key role in EU climate plans
Wind turbines near the Crimea border in the Kalanchatski region of Kherson Oblast, Ukraine, on Jan. 19.
Photographer: Christopher Occhicone/BloombergThis article is for subscribers only.
European and U.S. green energy stocks surged as Russia’s invasion of Ukraine increases pressure on governments to build more wind and solar power to reduce dependence on imported fossil fuels.
The world’s biggest wind-turbine maker Vestas Wind Systems A/S and competitor Siemens Gamesa Renewable Energy SA gained more than 15% on Monday, while Nordex SE rose as much as 21%. Denmark’s Orsted A/S, the world’s biggest developer of offshore wind farms, gained as much as 11%.