Stock Market Week 13/26: RENIXX Weakens - Market Observers See “Renewables Paradox” - Boralex and Vestas Rise Double-Digit - Ormat: Convertible Bond Issue - Nordex Secures New Orders
Münster (Germany) - The RENIXX trended weaker last week. Investors are still waiting to assess geopolitical developments and try to gauge the long-term consequences of the Iran war. The hard-to-predict U.S. foreign policy increases uncertainty and causes short-term, sometimes erratic market movements.
Last trading week, the RENIXX fell 1.8% to 1,211.28 points (closing price March 27, 2026). The index therefore remains within the established trading range of 1,200 to 1,300 points, signaling an ongoing consolidation phase in the renewable energy sector. The strongest performers last week were Boralex (+28.4%) and Vestas (+12.3%), both gaining double digits. Other top performers included Array Technologies (+9.3%), Green Plains (+8.8%), and Jinkosolar (+8.2%). Double-digit losses were seen for Enphase Energy (-14.2%), Bloom Energy (-11.4%), and Goldwind (-10.0%). Overall, the RENIXX’s year-to-date performance remains positive, with a gain of 7.2% since the start of the year.
About the Planned RENIXX ETF
The RENIXX is the world’s first and oldest global stock index for renewable energy. Since its launch in 2006, the RENIXX World has tracked boom phases, consolidations, and technological shifts in the industry.
Today, the RENIXX is listed on leading international financial information systems, including Bloomberg, Refinitiv/Reuters, and BlackRock’s Aladdin® platform, highlighting the index’s growing institutional relevance. The companies included in the RENIXX currently have a free-float market capitalization of approximately €180 billion.
On the occasion of its 20th anniversary, the IWR plans to launch an exchange-traded fund (ETF) that makes the RENIXX transparent, regulated, and investable. The implementation would be carried out in cooperation with an established white-label ETF provider.
Company News Week 13/26
Boralex stock rises after acquisition announcement
The week’s top performer, up 28.4% to €22.86, was Boralex. Brookfield Asset Management plans, together with La Caisse de dépôt et placement du Québec, to acquire the Canadian company. The agreement specifies a cash price of USD 37.25 per share, representing a 31.8% premium over the March 20, 2026, closing price. The total company value amounts to around USD 9 billion.
2025 Annual Report: Scatec ASA increases revenue, EBITDA slightly down
Norwegian renewable energy company Scatec has published its 2025 Annual Integrated Report, reporting significant progress compared to the previous year. The results show a growing business alongside improved balance sheet discipline. Scatec continues its strategic focus as an integrated, independent power producer (IPP) in renewable energy. Its core strategy is based on the global development, construction, and long-term operation of solar and hybrid power plants. Scatec shares rose 6.2% last week to €10.86.
Ormat expands convertible bond issue to USD 1 billion after Greenshoe exercise
U.S. company Ormat Technologies expanded its convertible bond issue to a total of USD 1 billion due to strong demand from institutional investors and successfully completed it. In addition to the already increased base issue during placement, the full exercise of the overallotment option (Greenshoe) contributed to the final size. Originally, an issue volume of USD 750 million was planned, which was increased to USD 875 million during marketing. The subsequent full exercise of the purchase option by initial investors raised the volume by another USD 125 million to a total of USD 1 billion. Ormat shares gained 5.2% to €96.90.
Nordex secures new orders
Nordex Group received additional projects in the onshore wind segment in Germany and Serbia, continuing positive order intake development. The focus is on the N175/6.X turbine, designed with large hub heights and tailored technical solutions for different site conditions. In Germany, a hub height of 199 meters is reached, while the turbines in Serbia are designed for operation under more challenging climatic conditions. Nordex also received an order for 28 MW at the Beesenstedt 3 site in Saalekreis, Saxony-Anhalt, consisting of four N163/6.X turbines. Overall, Nordex continues its positive development with the new orders. The stock closed the week down 3.5% at €43.26.
Cadeler significantly increases revenue and profit in 2025 - Offshore wind fleet capacity doubled
Offshore wind specialist Cadeler doubled its fleet capacity in 2025 while significantly increasing revenue and profitability. With a high order backlog and new investment plans, the company is strategically positioning itself for further growth in the global offshore wind market. Cadeler shares fell 4.6% to €4.77.
Bloom Energy strengthens leadership team
Bloom Energy strengthens its leadership team: Simon Edwards will become Chief Financial Officer (CFO) of the California fuel cell manufacturer starting April 13, 2026. Edwards brings nearly two decades of experience in technology and AI companies, most recently as CEO of Groq, a provider of hardware and systems for AI applications. At Groq, Edwards led global financial operations, oversaw rapid company growth, and managed a licensing agreement with Nvidia. Bloom Energy shares came under strong pressure last week, falling 11.4% to €115.
RENIXX starts the week in positive territory
The RENIXX opens the new trading week on a positive note. The largest gains this morning are seen in Ørsted, BYD, Goldwind, Vestas, and ERG S.p.A., while China Longyuan, Grenergy Renovables, and Daqo New Energy are posting losses.
About the Global RENIXX World Stock Index
The RENIXX® World (Renewable Energy Industrial Index, ISIN: DE000RENX014) is the world’s first stock index for renewable energy and the oldest global stock market barometer for this industrial future sector. It covers wind energy, solar energy, bioenergy, geothermal energy, hydropower, e-mobility, hydrogen, and fuel cells.
The index includes 30 international companies with the highest free-float market capitalization, reflecting both performance and global market development in the renewable energy industry. The RENIXX started on May 1, 2006, with a base value of 1,000 points; a back-calculation to 2002 was conducted. The index is available through leading financial media and data providers such as Bloomberg, Reuters, Financial Times, BlackRock (Aladdin), and Wallstreet Online.
The index includes 30 international companies with the highest free-float market capitalization, reflecting both performance and global market development in the renewable energy industry. The RENIXX started on May 1, 2006, with a base value of 1,000 points; a back-calculation to 2002 was conducted. The index is available through leading financial media and data providers such as Bloomberg, Reuters, Financial Times, BlackRock (Aladdin), and Wallstreet Online.
Source: IWR Online, 30 Mar 2026
