Top 7 ASX renewable energy stocks to watch in 2026
Three of these seven generate power in New Zealand, where hydro and geothermal do most of the work.
Most of the companies on this list generate electricity from renewable sources – hydro, geothermal and wind – and sell it to homes and businesses across Australia and New Zealand. Fortescue Ltd ($FMG) and Infratil Limited ($IFT) bring a different shape to the group. $FMG runs its green energy division – focused on hydrogen and green ammonia projects – alongside its primary iron ore business. $IFT holds renewable assets as one part of a broader infrastructure portfolio that stretches from airports to data centres.
How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.
Company Name | Ticker | Share Price | Market Cap | In Watchlists |
|---|---|---|---|---|
Fortescue | FMG | $18.02 | $55.48B | 20590 |
Origin Energy Limited | ORG | $10.94 | $18.85B | 4616 |
Infratil | IFT | $12.78 | NZ$15.14B | 1207 |
Meridian Energy | MEZ | $4.69 | NZ$14.75B | 770 |
Contact Energy | CEN | $7.37 | NZ$9.68B | 223 |
Mercury NZ | MCY | $5.57 | NZ$9.36B | 508 |
AGL Energy | AGL | $8.23 | $5.54B | 5622 |
Past performance is not a reliable indicator of future performance.
Source: Stake market data. Figures in A$ and NZ$. Data updated as of 11 August 2026.
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1. Fortescue ($FMG)
Fortescue (FMG) share price over the last year: started at A$19.66, ended at A$18.02, a change of −8.3%. Range over the period: high A$22.99, low A$17.80. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $18.02 · Daily: 0.2% · Market cap: $55.48B · Sector: Basic Materials · Industry: Metals & Mining
Fortescue Ltd ($FMG) operates across two segments – Metals and Energy – with iron ore at the commercial heart of the business. The Metals segment runs the Pilbara iron ore operations, covering exploration, production, processing and transport, with further exploration work in Gabon, Latin America and Australia.
The Energy segment develops green electricity, green hydrogen and green ammonia projects, along with the technology and manufacturing that supports them. Named projects in that pipeline include the Arizona Hydrogen project, the Holmaneset project, the Pecem project and the Gladstone PEM50 Project in Queensland. CEO Dino Otranto leads the company across both sides of the business.
2. Origin Energy Limited ($ORG)
Origin Energy Limited (ORG) share price over the last year: started at A$12.02, ended at A$10.94, a change of −9.0%. Range over the period: high A$13.07, low A$10.15. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $10.94 · Daily: 1.3% · Market cap: $18.85B · Sector: Utilities · Industry: Electric & IPPs
Origin Energy Limited ($ORG) sits at the intersection of energy production and retail. The company explores for and produces natural gas, generates electricity, and sells both to households and businesses across Australia. Its Energy Markets segment covers power generation, wholesale and retail energy, and LPG operations.
A separate piece of the business is $ORG's investment in Octopus Energy Group, which carries enough weight to form its own reporting segment. The Integrated Gas segment centres on Australia Pacific LNG (APLNG), a liquefied natural gas project, and includes commodity hedging and trading. Frank Calabria leads the company and its 5,420 employees.
3. Infratil ($IFT)
Infratil (IFT) share price over the last year: started at A$10.93, ended at A$12.78, a change of +16.9%. Range over the period: high A$13.16, low A$8.84. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $12.78 · Daily: 0.9% · Market cap: NZ$15.14B · Sector: Financials · Industry: Investment Services
Infratil Limited ($IFT) holds stakes in infrastructure businesses spread across New Zealand, Australia, the U.S., Asia, the UK and Europe. The renewable energy exposure runs through two investments: Gurin Energy in Asia and Mint Renewables in Australasia. $IFT's broader portfolio also covers Wellington International Airport, diagnostic imaging businesses on both sides of the Tasman, and digital infrastructure through One NZ and data centre investments including CDC Data Centers and Longroad Energy.
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4. Meridian Energy ($MEZ)
Meridian Energy (MEZ) share price over the last year: started at A$5.12, ended at A$4.69, a change of −8.4%. Range over the period: high A$5.30, low A$4.43. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $4.69 · Daily: 0.9% · Market cap: NZ$14.75B · Sector: Utilities · Industry: Electric & IPPs
Meridian Energy Limited ($MEZ) draws its electricity from hydro stations and wind farms across New Zealand, running roughly seven hydro stations and six wind farms that feed power into the wholesale market. On the retail side, $MEZ sells electricity to homes, businesses and industrial customers under two brands – Meridian and Powershop – giving it a presence at both ends of the supply chain.
The company also licences out a retail software platform developed through its subsidiary Flux Federation Limited, which handles electricity and gas retailing technology. That makes $MEZ primarily a generator and retailer, with a smaller technology arm running alongside the core energy operations.
5. Contact Energy ($CEN)
Contact Energy (CEN) share price over the last year: started at A$8.30, ended at A$7.37, a change of −11.2%. Range over the period: high A$8.59, low A$7.16. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $7.37 · Daily: -0.9% · Market cap: NZ$9.68B · Sector: Utilities · Industry: Electric & IPPs
Contact Energy ($CEN) generates and retails electricity and natural gas across New Zealand, serving residential, commercial and industrial customers. Its generation portfolio runs across more than 12 power stations, drawing primarily from geothermal and hydro sources. The retail arm goes beyond electricity and gas – $CEN also offers broadband, mobile and solar products to end users.
CEO Mike Fuge leads a team of 1,421 employees across the generation and retail sides of the business. That combination of generation assets and direct customer relationships means $CEN sits across the full supply chain, from producing power to billing the household.
6. Mercury NZ ($MCY)
Mercury NZ (MCY) share price over the last year: started at A$5.74, ended at A$5.57, a change of −3.0%. Range over the period: high A$6.28, low A$5.12. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $5.57 · Daily: 0.4% · Market cap: NZ$9.36B · Sector: Utilities · Industry: Electric & IPPs
Mercury NZ Limited ($MCY) draws its electricity from hydro, geothermal and wind generation across New Zealand, selling that power through its wholesale operations and under two retail brands: Mercury and GLOBUG. CEO Stew Hamilton leads the company and its 1,364 employees across three business segments – generation and wholesale, customer, and corporate support.
The customer segment goes beyond just electricity. Mercury NZ also retails gas, broadband and mobile services to residential households and small to medium-sized businesses, making it more of an all-in-one home services provider than a pure-play generator. That mix means the company's revenue profile draws from both the wholesale electricity market and direct consumer relationships.
7. AGL Energy ($AGL)
AGL Energy (AGL) share price over the last year: started at A$10.22, ended at A$8.23, a change of −19.5%. Range over the period: high A$10.60, low A$8.03. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $8.23 · Daily: 0.5% · Market cap: $5.54B · Sector: Utilities · Industry: Multiline
Under CEO Damien Nicks, AGL Energy ($AGL) runs an electricity generation portfolio that spans coal and gas-fired plants as well as wind, hydro and solar assets. Its Customer Markets segment retails electricity, gas, broadband and solar products to residential and business customers across Australia.
The Integrated Energy segment covers those generation facilities and also holds grid-scale batteries and natural gas storage. $AGL also owns an electric vehicle software platform, a distinct part of the business outside its generation and retail operations. Through the Investments segment, $AGL holds stakes in the ActewAGL Retail Partnership and Tilt Renewables.
Common questions
How do I invest in ASX renewable energy stocks in Australia?
All seven companies in this list trade on the ASX, so shares can be bought through a share trading platform that provides ASX access. The direct route is buying individual company shares, which lets you focus on a specific business – whether that's an electricity generator, an infrastructure fund or a company with a dedicated green energy division. Some ASX-listed ETFs also cover the clean energy or utilities sector and hold multiple names at once, though the composition of any given fund varies.
What are the key risks of ASX renewable energy stocks?
Policy is a significant risk factor – these businesses depend on government frameworks covering renewable energy targets, grid regulation and emissions policy, all of which can change over time. Companies with development-stage green projects carry execution and financing risk, and where projects span multiple countries, sovereign and regulatory exposure applies in each jurisdiction. Several companies here earn most of their revenue in New Zealand dollars, so NZD/AUD movements affect the AUD value of those earnings. Some companies also hold substantial fossil fuel assets alongside their renewables, meaning actual exposure to the energy transition varies considerably across this list.
Several companies here are based in New Zealand – does that create currency exposure?
Meridian Energy, Contact Energy and Mercury NZ all operate primarily in New Zealand and earn their income in NZD. When that income converts to AUD, the NZD/AUD exchange rate directly affects its value – a stronger AUD relative to the NZD reduces the AUD equivalent of those earnings, and a weaker AUD moves it the other way. Infratil is also New Zealand-based but holds assets across Australia, the U.S., Asia, the UK and Europe, so its currency exposure covers a broader mix.
How much of each company's business is actually renewable energy?
The answer varies considerably. Meridian Energy, Contact Energy and Mercury NZ sit at one end – their electricity generation comes from hydro, geothermal and wind, with retail operations built around that output. AGL runs coal and gas-fired plants alongside its renewable assets, while Origin Energy's business includes natural gas exploration, LNG and a large retail energy book. Fortescue's green energy and hydrogen work sits in a separate segment alongside its iron ore mining operations. Infratil holds renewables as one investment theme within a broader portfolio that also covers airports, healthcare imaging and digital infrastructure.
Disclaimer
Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.
This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.
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