1 Growth Stock Down 69% to Buy Right Now
The renewable-energy industry has been beaten up over the past year as rising interest rates have hurt returns and it's getting more difficult to fund growth projects. One of the stocks that's suffered the most is NextEra Energy Partners (NYSE: NEP), owner of one of the largest fleets of wind and solar assets in the world.
NextEra's assets generally come with long-term contracts to sell electricity to utilities, which lock in cash flow for years and sometimes decades. But projects are also financed with debt, so higher interest rates will eat into returns. And the company has been forced to sell off some assets to pay down financial obligations.
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Source Fool.com
