The winners of decarbonization: How Siemens Energy, CHAR Technologies, and First Solar are turning the trend into returns

Siemens Energy – Operations are running smoothly

The figures for the past fiscal year speak for themselves. Siemens Energy not only met its own expectations, but in some cases exceeded them. All segments performed solidly, allowing management to resume dividend payments earlier than expected. For the current year, forecasts of double-digit revenue growth and a further expansion in margins signal that profitable expansion was not a coincidence, but rather a plan.

This momentum is fueled by two strong business areas. Gas Services benefited from record demand for gas turbines. At the same time, Grid Technologies is driving growth, buoyed by the global push to expand the grid, especially in North America. However, it is important to keep an eye on tariffs and wait to see how they affect revenue. Siemens Gamesa, once a problem child, is also slowly regaining stability with a strategic relaunch of its platform and portfolio adjustments.

Strategically, the Company is focusing on partnerships in future technologies and targeted investments. A new alliance is targeting low-carbon solutions such as hydrogen. At the same time, billions are being invested in expanding grid production capacities. This mix of operational strength and long-term investments in the megatrend of the energy transition gives the group its noticeable momentum. Analysts see price targets between EUR 134 and EUR 170. The share is currently trading at EUR 143.55.

CHAR Technologies - Partnership drives next major project forward

For CHAR Technologies (CHAR Tech), 2026 begins with a strong signal for the future. The cleantech company has a clear business model. It recycles wood and organic waste using high-temperature pyrolysis to produce two products. The first is a solid biocarbon that can replace fossil coal in the steel industry. The other is a synthetic gas that is processed into renewable natural gas. CHAR Tech and its strategic partner, the BMI Group, have now given the green light for the detailed planning phase of the "Espanola" project. With a financial commitment of CAD 10 million from BMI, the initiative is taking shape.

The project aims to build a large-scale plant on the site of a decommissioned pulp mill in northern Ontario. The scale of the project underscores its maturity. With a planned annual capacity of 50,000 tons of biochar, Espanola will be five times larger than the Company's first commercial plant in Thorold. While commissioning is currently underway in Thorold with a capacity of 5,000 tons in Phase 1, the plans for Espanola show that the core business model is suitable for significantly larger scales. This step from the first reference to scalable follow-up projects is a key indicator of long-term competitiveness.

The choice of location follows a clear risk minimization strategy. Instead of a new greenfield construction, an existing, developed industrial site is being used. Access to local wood residues from the surrounding forestry industry also secures the raw material base. These factors significantly reduce planning uncertainties and technical hurdles. It is clear to investors that the Company is following a plausible path, from development to operational implementation and the establishment of a pipeline that goes beyond individual assets. The share is currently trading at CAD 0.295.

First Solar – Why the solar king continues to shine

In recent years, First Solar has transformed itself from a niche player to the celebrated champion of US solar technology. Its recipe for success is based on a clear strategic decision. While the majority of industry relies on crystalline silicon modules from Asia, the Company remains loyal to its in-house thin-film technology based on cadmium telluride.
This unique technological approach is proving to be a significant advantage, as it minimizes dependence on global supply chains and offers advantages in terms of durability and temperature resistance, especially for large solar parks. The focus on the highly profitable domestic market and large-scale projects completes the impressive profile.

This strategy is supported by extremely favorable political tailwinds. The Inflation Reduction Act guarantees lucrative incentives for every module produced in the US through the so-called 45X tax credits. This ensures a significant portion of the Company's current profitability. At the same time, the booming energy demand of data centers, driven by artificial intelligence, is driving up demand for reliable, domestically produced solar power. Trade restrictions on overseas modules also protect the domestic market and support prices.

First Solar thus plays a central role as an enabler of decarbonization. The Company is massively expanding its manufacturing capacity in the US, with new gigawatt factories in several states. This makes clean energy not only politically desirable but also economically scalable. First Solar supplies the essential hardware to make power grids greener and more resilient. Its growth is directly linked to the expansion of renewable infrastructure. This is a structural megatrend that supports the fundamentals in the long term. The share price is currently trading at USD 235.05.

Decarbonization is becoming a profitable megatrend for strategically positioned companies. Siemens Energy is demonstrating robust profitability with strong operating figures and the expansion of critical grid infrastructure. CHAR Technologies is proving the scalability of its business model for utilizing bio-based residues with its next major project. As a technology leader, First Solar is benefiting massively from the US domestic market and the boom in renewable energy. Together, they show that the energy transition is already generating concrete and investable value creation today.