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Climate Deal Spurs Record Gains for Renewable Stocks

  • Sunrun, TPI Composites post their biggest-ever intraday gains
  • Senate pact earmarks $369 billion for energy and climate
Contractors install SunRun Inc. solar panels on the roof of a new home in Sacramento, California.

Contractors install SunRun Inc. solar panels on the roof of a new home in Sacramento, California.

Photographer: David Paul Morris/Bloomberg
Corrected

Renewable stocks notched record gains following a landmark climate deal struck by US Senators Joe Manchin and Chuck Schumer.

Sunrun Inc., the largest US residential-solar installer, jumped as much as 34% Thursday, the most on record. TPI Composites Inc., which makes wind-turbine blades, climbed as much as 38% in its biggest gain ever. Rooftop-solar company Sunnova Energy International Inc. surged as much as 41%, its largest intraday rise since March 2020.