Q: Both seem to be in same field, different geography. With varying degrees of risk. In terms of upside potential 3-5 years how would you rank between them and why?
5i Research Answer:
BLX has a capacity of 3,000 MW, with another 6,000 MW in development. Nearly 82% of generated energy comes from wind, 10% from solar, and the rest from hydro. The aim is to expand the portfolio to have a split of 45-45% between wind and solar and another 10% in battery storage. Production is based in Canada, France, and the US.
Focusing on Latin America, PIF operates a geothermal plant (~72 MW), 4 run-of-river hydroelectric plants (~33 MW), and 3 solar projects (~35 MW). 98% of revenues are fully contracted with government entities.
Picking between the two, we would side with BLX for its size and higher growth prospects.