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Renewable Energy Companies Hit Hard On Texas Crisis

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Stocks FuelCell Energy Inc. and Plug energy Inc. PLUG 10.67% lost 16.55% and 10.67%, correspondingly, on as Texas Gov. Greg Abbott continues to call into question the reliability of renewable energy thursday.

What Happened: Abbott has stated fossil fuels should take precedence over renewables because the state stares down a power crisis who has kept numerous residents without temperature during a winter storm that is brutal.

Certainly one of Abbott’s arguments which are primary been that renewable energies are anything but dependable throughout the fallout of extreme weather conditions.

Abbott stated in a meeting Wednesday with Sean Hannity that losses in wind and solar power “thrust Texas right into a situation where it had been lacking power for a statewide basis.”

“It is simply silly to consider we can disband the employment of fossil fuels while having a safe and nation that is comfortable” Abbott stated.

Whether investors think the electricity crisis in Texas is just a fade that is long-lasting renewables and a nod towards the need for fossil fuels stays become seen.

Due to the fact crisis in Texas plays down, here are four shares to watch whilst the fallout through the Texas winter electricity and storm crisis plays away.

About FuelCell, Plug Power: FuelCell power designs manufactures, sells, installs, functions, and services fuel-cell services and products, which efficiently convert chemical power in fuels into electricity through a variety of chemical responses.

The company’s systems are catered to municipalities, universities, government entities and a number of commercial and enterprises which can be commercial.

Plug provides hydrogen gas mobile turnkey solutions for the mobility that is electric fixed power markets in united states and European countries.

The company garnered an abundance of attention from investors in 2020 because of its GenDrive system, a PEM that is hydrogen-fueled cellular system providing you with capacity to material managing electric cars. Stocks FuelCell Energy Inc. and Plug energy Inc. fell today.

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