01:40 PM EDT, 06/09/2025 (MT Newswires) -- National Bank of Canada over the weekend said analyst Baltej Sidhu is assuming coverage of its Sustainable Infrastructure and Clean Technology sector, owing to a pending analyst departure.

The bank said it is reiterating its ratings and targets for Algonquin Power & Utilities ( AQNB ) , Ballard Power Systems ( BLDP ) , Boralex ( BRLXF ), Brookfield Renewable Partners L.P. ( BEP ) , Exro Technologies ( EXROF ) , Hammond Power Solutions (HPS-A.TO), NanoXplore ( NNXPF ) , Northland Power (NPI.TO) and Polaris Renewable Energy ( RAMPF ) .

However, the bank said that it refreshed its investment thesis for each equity and outlined its view of "the near-term risks and catalysts" for each equity.

The bank pointed out that these include potential for asset and capital recycling for Algonquin Power & Utilities ( AQNB ), Brookfield Renewable Partners L.P. ( BEP ), Boralex ( BRLXF ) and Northland Power; derisking operational and execution risk for Northland Power and Algonquin Power & Utilities ( AQNB ); and M&A involving Hammond Power Solutions, Polaris Renewable Energy ( RAMPF ), Brookfield Renewable Partners L.P ( BEP ) and Boralex ( BRLXF ), among others.

The bank also provided key takeaways from its clean energy conference, in which it hosted Brookfield Renewable Partners L.P. ( BEP ), Boralex ( BRLXF ), Hammond Power Solutions and Northland Power. The bank noted that the meetings focused on construction updates for NPI, growth opportunities for BEP and BLX, and introduction and market updates for HPS.

The bank stated that renewable power and clean tech are at "a critical inflection point," and further noted that while major policy shifts ranging from "U.S. tariff escalation to evolving clean subsidies are colliding with cost volatility, supply chain disruptions and shifting investor sentiment, long-term tailwinds such as rising electricity demand, improving cost competitiveness and policy support by various jurisdictions continue to drive global deployment."

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