When it comes to ASX renewables shares, there is certainly a mixed bag of options out there. The renewables space is one of the most exciting, and yet underdeveloped, corners of the ASX. While there are many promising companies in the renewables space, the industry is still arguably in its infancy here in Australia. As such, it can be a wild and volatile ride to invest in some of these new-age companies.
So which ASX renewables shares have been climbing the charts lately?
Well, unfortunately one of investors' old favourites of the ASX renewables space in Tilt Energy (ASX: TLT), is no longer around after its New Zealand operations were acquired in full by Mercury NZ Ltd (ASX: MCY) back in August. Its Australian arm went to Powering Australian Renewables, itself a division of AGL Energy Limited (ASX: AGL).
Tilt owns a stable of solar and wind farms across Australia and New Zealand. As we covered earlier this year, it had an amazing performance in FY2021, rising more than 120% over the 12 months to 30 June 2021.
So, how has Tilt New Zealand's new owner Mercury been doing then? Well, not as well, as it turns out. Mercury NZ shares are down close to 5% over the past month. And down more than 10% year to date in 2021 so far.
ASX renewables shares deliver a mixed bag
Another ASX renewables company in Infratil Ltd (ASX: IFT) used to own a stake in Tilt as well. But it relinquished this when the company was broken up and sold. But Infratil shares have done a little better than Mercury shares recently. Even though Infratil is down close to 2% over the past month, it's still given investors a healthy 16% return over the past 6 months.
But let's turn to a renewables company that's been burning up the ASX charts recently. Spark Infrastructure Group (ASX: SKI) shares have been booming in recent months. They are up 33.3% since mid-May and 36.5% over the past 12 months. But this is another company that could be acquired and delisted from the ASX very soon.
This company told investors back in August that it had been approached by a consortium of investors, including Kohlberg Kravis Roberts & Co, the Ontario Teachers' Pension Plan, and Public Sector Pension Investments. These investors put up an offer of $2.95 a share for Spark, which the company has recommended to shareholders. They will vote on this proposal by the end of the year.
All of these gyrations, mergers and excitement show how hot this ASX renewables space is right now. Investors have certainly got a bit of a mixed bag from this sector in 2021 so far, but you can't say it hasn't been a thrilling ride!
