Top renewable energy stocks

Renewable energy is one of the most compelling long-term investment trends and the following ASX renewable energy stocks are well positioned to create significant shareholder value over time.

Meridian Energy Limited (ASX: MEZ) 

Meridian Energy Limited is one of the top ASX renewable energy stocks due to its high-quality hydro and wind generation assets and pipeline of other renewable energy projects across New Zealand.
The company reported good operating performance in April 2026 as retail sales volumes increased 8.2% year-on-year while national electricity demand rose 3.7% which highlights strong customer growth and favourable market conditions.

Meridian’s current annual unfranked dividend yield is 3.68% and has a market capitalisation of $12.87 billion.

Generation output increased 13.5% from the prior corresponding period due to higher hydro generation while customer connections were up 15.7% over the last 12 months.

The long term outlook also improved after the company secured consent for the 120MW Bunnythorpe Solar Farm which is expected to generate approximately 225GWh annually and forms part of its broader $3 billion renewable energy investment program through to 2030.

Carnegie Clean Energy Limited (ASX: CCE) 

Carnegie Clean Energy Limited has surged 20% at the time of writing on 2 June 2026 due to improved investor confidence as the company moved its proprietary wave energy technologies closer to commercial deployment.
Carnegie has continued to achieve important milestones through its ACHIEVE Programme with fabrication, assembly and testing of the flagship CETO wave energy system progressing towards deployment at the BiMEP site in Spain later this year.

Additional non-dilutive funding has recently been secured which includes a $568,630 R&D tax incentive rebate and a EuropeWave milestone payment of approximately $103,000 that further validates the company's technology and development progress.

The company during the March 2026 quarter generated customer receipts of $204,000 and successfully drew down 57% of its EuropeWave contract value equal to €2.15 million which supports the commercialisation pathway for CETO.

Recent milestones included key regulatory approvals for deployment and progress on the MoorPower commercial pilot initiative which aims to replace diesel generation in offshore industries and could create additional long-term market opportunities.

AGL Energy Limited (ASX: AGL) 

AGL Energy Limited is one of the Top renewable energy stocks on the ASX because it combines the scale of an established energy leader with a rapidly expanding portfolio of renewable energy assets.
The company in its FY26 half-year result reported underlying EBITDA of $1.09 billion and underlying NPAT of $353 million while customer services increased to 4.67 million and customer satisfaction improved to 83.8%.

AGL upgraded and narrowed its FY26 guidance range to underlying EBITDA of $2.02 billion to $2.18 billion and underlying NPAT of $580 million to $680 million, supported by stronger fleet reliability, higher battery earnings and better customer margins.

Its energy transition strategy also continues to advance with the development pipeline expanding to 11.3GW while construction of the 500MW Tomago Battery has commenced and long-term renewable power purchase agreements have been secured to support future growth.

The current market capitalisation is $5.71 billion and with the help of rising electricity demand from electrification and data centres and a clear pathway toward a lower-emissions energy future, AGL is well positioned to deliver long-term value for shareholders.

(Source: Company Announcements)