11:33 AM EST, 02/11/2025 (MT Newswires) -- National Bank of Canada said Monday its top picks in the renewable power infrastructure sector are Innergex Renewable Energy ( INGXF ) , Northland Power (NPI.TO), Boralex ( BRLXF ) and Polaris Renewable Energy ( RAMPF ) .

To bank said renewable power infrastructure stocks have come under pressure at the start of 2025, driven by negative market sentiment and uncertainty.

While the Canada 10-year note now trades at a 3% yield, most of the stocks are close to five-year lows, the bank said.

However, with contracted cash flows that are largely CPI-indexed, traditionally strong negative correlations to falling rates and visibility on growth, renewable IPPs should perform better, the bank added.

National Bank expects the sector to continue consolidation in 2025, largely driven by private capital. The bank noted that Brookfield Renewable Partners LP (BEP-UN.TO) highlighted a strong M&A market, anticipating an active year for capital deployment in 2025.

Price: 6.60, Change: +0.09, Percent Change: +1.31