GREEN DEALS: A rally in clean energy stocks

Archived News, Posted on 12 Jul 2011

Giles Parkinson

Green stocks surged on Monday after details of the government’s carbon pricing policy were unveiled, with renewables and carbon offset groups performing particularly well. One of the strongest gains came from Carbon Conscious, which jumped 16 per cent to 36c and has more than doubled in the past week as details of the package emerged in the media. Fellow offsets group Co2 Australia jumped more than 10 per cent to 27c.

Among the renewables, the recently ignored geothermal sector recorded a solid bounce on the hopes that $10 billion to be allocated for the Clean Energy Finance Corporation would finally unlock investment. Petratherm, currently doing important fracture tests in the Cooper Basin, jumped 20 per cent ot 20c, while Geodynamics was up 25.4 per cent to 42c, nearly four times its low from late last month. Smaller stocks such Hot Rocks (11.1 per cent), Panax (21.8 per cent) and Greenearth Energy (11.7 per cent) were also sough in heavy trading.

Elsewhere, wave energy developer Carnegie Wave Energy gained 11.5 per cent, wind farm developer and operator Infigen Energy was up 10.8 per cent, diversified renewable energy company CBD gained 12.5 per cent, solar research group BluGlass jumped 13 per cent, and solar and uranium technology company Silex Systems was up 7.2 per cent.

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