Mixed Greens: Oz cleantech stocks outperform main index

Australian cleantech stocks outperform main index

Australian cleantech stocks fell in January, but they continue to outperform the overall market, on a monthly, quarterly and annual basis. The ACT Australian Cleantech Index fell 1.6 per cent in January, while the overall market lost 3%.

Over a three month period, the cleantech index has recorded a gain of 5.9 per cent, compared to a loss of 4.3 per cent for the overall index, while over a 12 months period, it has gained 19.3 per cent, compared to a 6.4 per cent gain for the S&P 200.

The market capitalisation of the 66 stocks in the ACT Australian CleanTech Index is A$12.2 billion, falling from its peak of $16.3 billion in July 2007 but up from its low of A$6.2 billion in July 2012.

PowerShop signs up renewable power sources

New electricity retailer PowerShop says it has signed agreements to source energy from a community owned renewable power projects, leading wind farm operators and a land-fill gas generator, adding to its suite of electricity products that it will offer to consumers via its “online electricity supermarket.”

As disclosed yesterday in RenewEconomy, PowerShop will offer a range of renewable products to its consumers. The deals have been signed with PowerShop owner Meridian Energy, Australian wind farm operator Infigen Energy, waste generator LMS Energy, and community renewable projects put together by Emnark Australia.

“This is a breakthrough for Australia’s renewable generators who can now sell directly to customers who want to use green power,” PowerShop Australia CO Ben Burge said in a statement. He said other generators are expected to join the first four suppliers later this year, including a major consumer goods group that generates electricity as a by-product at a major industrial processing facility.