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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2023-11-17 C$ 30.57
Market Cap C$ 3,141,559,799
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Globe says Boralex feels pinch in 2023

2023-11-20 09:36 ET - In the News

The Globe and Mail reports in its Monday edition that clean energy stocks are stuck in a monumental slump in Canada and around the world, with steep losses piling up on the year despite billions in government support and booming demand from countries committed to reducing greenhouse gas emissions. The Globe's Tim Shufelt writes that the rise of interest rates and bond yields have proven toxic for renewable energy companies, which came to rely on easy access to cheap capital to finance solar and wind projects. Another pressure point, inflation, has caused a huge rise in production costs, adding to the strain of soaring interest costs on corporate debt. The long-term investment thesis behind the green economy is intact, and there is little doubt that renewables will contribute more and more to the global energy mix in the decades ahead. Tech is the runaway leader of the stock market in 2023, with the S&P 500's IT constituents together gaining 50 per cent. The same sector patterns are in play in Canada. Domestic tech names including Shopify have realized enormous gains this year. Meanwhile, the S&P/TSX Renewable Energy and Clean Technology Index is down by 19 per cent. Boralex, for example, is down by 24 per cent.

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