European Commission's REPowerEU plan boosts renewables momentum - Citi

Ariston Holding

09/03/2022 12:07

** The European Commission's REPowerEU plan, aiming to make
Europe independent from Russian gas "well before 2030", points
to further momentum in renewables, Citi says  urn:newsml:reuters.com:*:nA5N2US014
    ** Most market forecasts have never fully factored in the
EU's Fit 4 55 targets, which would need average annual EU wind
installations of about 32GW through 2030, versus market
expectations of about 18GW, the brokerage says
    ** Moreover, if the EU hits its targets, global ex-China
wind installation forecasts would increase by almost 30%
annually through 2030, it adds
    ** The brokerage names Vestas  VWS.CO  as one of the key
winners in the competitive wind industry, followed by Siemens
Gamesa  SGREN.MC , and Nordex  NDXG.DE , all "buy"-rated    
    ** The EU aims for 10 million heat pumps installed in the
next five years, Citi says, naming companies with most direct
exposure in this matter: Ariston  ARIS.MI  ("neutral") and Alfa
Laval  ALFA.ST  ("buy") 

 (Reporting by Marta Frackowiak)
 ((marta.frackowiak@thomsonreuters.com))