Rising Interest Rates Weigh On Renewable Growth

Renewable energy stocks are having a hard time, even in the middle of Europe’s energy crisis. It seems that the sector needs central banks to take their foot off the gas in hiking interest rates, but it may have to wait a little longer. The European Renewables Index has lost most of its summer outperformance over the wider Stoxx Europe 600 Index. Since a year-to-date peak in August, renewable stocks have fallen 20%, and only real estate has performed worse. They’ve recovered a bit since Oct. 12 thanks to expectations for a change…