Top renewable energy stocks to watch in Singapore

What are renewable energy stocks?

Renewable energy stocks represent companies that generate power from sustainable sources like solar, wind, hydro and biomass, or those that provide essential equipment, infrastructure and services to this sector.

Unlike traditional energy companies that are reliant on finite resources like coal, oil and natural gas, renewable energy firms focus on using naturally replenishing energy sources.

These companies typically fall into one or more of the following categories:

• Power generators: Companies that produce electricity from renewable sources
• Equipment manufacturers: Firms that create solar panels, wind turbines and other essential components
• Infrastructure developers: Businesses that build and maintain renewable energy facilities
• Technology innovators: Companies developing new solutions to improve efficiency and reduce costs
• Energy storage specialists: Firms creating battery and storage solutions to address intermittency issues

With Singapore's Green Plan 2030 aiming to quadruple solar energy deployment by 2025¹, renewable energy companies will play a crucial role in developing a more sustainable future.

Singapore's renewable energy landscape

With limited land area, high urban density, and relatively low wind speeds, Singapore has focused primarily on solar power as its most viable renewable energy source².

Singapore's renewable approach

The Singaporean government has implemented several innovative initiatives:

• The SolarNova programme, which aims to deploy solar panels on public housing rooftops³
• Floating solar farms on reservoirs, including the 60 megawatt-peak (MWp) Tengeh Reservoir project⁴
• Cross-border power import projects with Malaysia and Indonesia⁵
• Green financing incentives for sustainable energy projects⁶

For traders in Singapore, this local context provides crucial insight when evaluating renewable energy stocks. Companies that align with Singapore's specific renewable energy needs, particularly in solar, energy storage, and regional grid connectivity, may present particularly relevant opportunities.

Advantages of trading renewable energy stocks

Trading renewable energy stocks offers several distinct advantages that make them particularly attractive in today's market environment:

Growth potential

The renewable energy sector continues to grow globally. According to the International Energy Agency (IEA), renewable capacity will expand by 2,400 gigawatts between 2022 and 2027⁷.

Government support

Renewable energy benefits from strong policy support worldwide, including in Singapore. The government's commitment to quadruple solar deployment by 2025⁸ creates a supportive environment for companies in this space.

Technological advances

Ongoing innovations steadily reduce costs and improve efficiency in renewable energy technologies. Bloomberg NEF reports that the cost of solar has fallen by 89% since 2010⁹, making it increasingly competitive with fossil fuels.

ESG alignment

For traders concerned with environmental, social and governance (ESG) factors, renewable energy stocks offer an opportunity to align investments with personal values¹⁰ while potentially generating returns.

Diversification benefits

Renewable energy stocks often have different risk profiles and growth drivers compared to traditional energy companies¹¹, potentially offering portfolio diversification benefits.

Top renewable energy stocks to watch in Singapore

Consider these five standout renewable energy companies for your trading watchlist:

Sembcorp Industries (U96.SI)

Singapore connection
As a Singapore-listed company, Sembcorp Industries represents a local player with global renewable energy operations.

Business focus
Sembcorp has transformed from a traditional utility to a significant renewable energy player. The company aims to quadruple its installed renewable energy capacity to 10GW by 2025 from 2.5GW in 2020¹².

Recent developments
In 2024, Sembcorp commissioned a 60MWp floating solar farm on Tengeh Reservoir, one of the world's largest inland floating solar systems¹³. The company also secured major solar energy projects in China and India.

Why watch it
With operations across Singapore, China, India and the UK, Sembcorp offers exposure to multiple high-growth renewable energy markets. The company's strategic pivot toward renewables positions it well for Singapore's green transition.

Sunseap Group (EDPR.LS)

Singapore connection
Founded in Singapore, Sunseap Group has been a pioneer in Singapore's solar industry before being acquired by EDP Renewables.

Business focus
Sunseap specialises in solar energy systems across Southeast Asia, with particular strength in rooftop solar installations and innovative solar solutions for land-scarce environments.

Recent developments
Since its acquisition by Portugal's EDP Renewables for S$1.1 billion, Sunseap has accelerated its expansion across the APAC region¹⁴. The company recently secured major projects in Indonesia and Vietnam.

Why watch it
While no longer directly tradable as it's now part of EDP Renewables (stock symbol: EDPR.LS), Sunseap's growth illustrates the value potential in Singapore's renewable energy sector.

First Solar (FSLR)

Singapore connection
First Solar has a significant presence in Singapore's solar supply chain and partners with local installers.

Business focus
As a leading manufacturer of advanced thin-film solar panels, First Solar specialises in large-scale solar projects. The company's panels use cadmium telluride technology rather than traditional silicon, offering performance advantages in Singapore's hot, humid climate¹⁵.

Recent developments
First Solar recently announced a major manufacturing expansion, investing $1.1 billion in a new facility that will increase its annual production capacity by 3.5 gigawatts¹⁶. The company has also secured long-term supply agreements through 2030.

Why watch it
With manufacturing facilities across multiple regions, First Solar is well-positioned to serve diverse global markets and meet various local content requirements¹⁷.

NextEra Energy (NEE)

Singapore connection
While based in the US, NextEra Energy's utility-scale renewable energy expertise aligns with Singapore's need for efficient, large-scale clean energy solutions.

Business focus
NextEra Energy is the world's largest producer of wind and solar energy¹⁸, with a focus on utility-scale renewable power generation and electricity transmission.

Recent developments
NextEra continues to execute its ambitious "Real Zero" plan to eliminate carbon emissions from its operations by 2045 without relying on carbon offsets¹⁹.

Why watch it
With consistent earnings growth and a 20-year track record of delivering approximately 10% annual total shareholder returns²⁰, NextEra offers Singapore traders exposure to a renewable energy leader with both stability and growth potential.

Brookfield Renewable Partners (BEP)

Singapore connection
Brookfield Renewable Partners has been expanding its presence in Asia-Pacific renewable energy markets, including Singapore and its neighbours.

Business focus
Brookfield Renewable operates one of the world's largest publicly traded renewable power platforms²¹, with a portfolio spanning hydroelectric, wind, solar and storage facilities across North America, South America, Europe and Asia.

Recent developments
Brookfield continues to expand its Asian presence, with investments in India's CleanMax Solar and other regional projects.

Why watch it
Brookfield's diverse renewable asset portfolio and global footprint offer Singapore traders exposure to multiple renewable technologies and markets. The company's expertise in hydroelectric power, which provides stable, baseload generation, complements Singapore's predominantly solar-focused strategy.

How to trade renewable energy stocks through IG Singapore

IG Singapore offers CFD trading as the way to take positions on renewable energy stocks:

CFD trading

Contracts for difference (CFDs) allow you to take a position on price movements without owning the underlying stock. With IG Singapore's industry-leading trading platform, you can enjoy:

• Access to international markets from a single platform
• The ability to go long or short
• Leverage to maximise potential returns (though this also increases risk)
   

Start trading in four steps

1. Create a live CFD trading account
2. Research potential renewable energy stocks using our market analysis tools
3. Develop a trading strategy with clear entry and exit points
4. Open your first position with appropriate risk management measures

Our platform offers tight spreads, exceptional execution speed and powerful tools for trading this sector efficiently.

Footnotes:

 ¹ SG Green Plan, 2025.
² Energy Market Authority, "Singapore Energy Statistics 2024," Singapore Government, 2024.
³ HDB SolarNova, 2024.
⁴ SIWW Spotlight 2025, "Sembcorp Tengeh Floating Solar Farm,” 2025.
⁵ Energy Market Authority, "Electricity Imports," Singapore Government, 2024.
⁶ Monetary Authority of Singapore, "Green Finance Action Plan," 2024
⁷ IEA, 2022.
⁸ SG Green Plan, 2025.
⁹ Bloomberg NEF, "Energy Transition Investment Trends 2023," January 2023.
¹⁰ Carbon Collective, 2023.
¹¹ Science Direct, 2024.
¹² Sembcorp Industries, "Sustainability Report 2024," March 2025.
¹³ Sembcorp Industries, "Sembcorp Completes Tengeh Floating Solar Farm," Press Release, February 2024.
¹⁴ EDP Renewables, "Annual Report 2024," March 2025.
¹⁵ National Renewable Energy Laboratory, "Temperature Coefficients for PV Modules and Arrays: Measurement Methods, Difficulties, and Results," 2024.
¹⁶ First Solar, "First Solar Announces New Manufacturing Plant," Press Release, January 2025.
¹⁷ BloombergNEF, "Global Solar Manufacturing Outlook," March 2025. The report details First Solar's international manufacturing footprint and capacity expansion plans.
¹⁸ NextEra Energy, 2025.
¹⁹ NextEra Energy, "Real Zero Climate Strategy," 2025.
²⁰ NextEra Energy, "2024 Annual Report," February 2025.
²¹ Brookfield, 2024.