Stock Market Week 12/26: RENIXX Declines - Solaredge up Nearly 40% - Nordex: Additional Orders - Vestas Continues Share Buyback - Ormat Convertible Bonds – Canadian Solar Plunges
Münster (Germany) - The RENIXX declined slightly over the past week. Despite high prices for fossil fuels - which generally support renewable energy - short-term developments are being held back by opposing factors. In particular, interest rate trends, corporate earnings prospects, and long-term market expectations play a central role.
Top performers of the week are Solaredge (+38.0%), Plug Power (+4.3%), Nordex (+4.2%), BYD (+3.7%), and Boralex (+3.7%). The biggest losers are Canadian Solar (-23.3%), Xpeng (-13.5%), Daqo (-10.6%), Jinkosolar (-9.6%), and China Longyuan (-8.7%).
About the planned RENIXX ETF
The RENIXX is the world’s first and oldest global stock index for renewable energy. Since its launch in 2006, the RENIXX World has reflected boom phases, consolidation periods, and technological transformations within the sector.
Today, the RENIXX is listed in leading international financial information systems, including Bloomberg, Refinitiv/Reuters, and the BlackRock Aladdin® platform, underscoring its growing institutional relevance. The companies included in the RENIXX currently represent a free-float market capitalization of around €180 billion.
On the occasion of its 20th anniversary, IWR is planning to launch an exchange-traded fund (ETF) that will make the RENIXX transparent, regulated, and investable. The potential implementation is to be carried out in cooperation with an established white-label ETF provider.
Company news Week 12/26
Integrated solar and storage system from Solaredge launches in Germany
Solaredge has announced the commercial launch of its new Solaredge Nexis system for the German market. The modular solution combines solar power generation, storage, and backup functions in an integrated system and, according to the company, marks a step forward in residential energy supply. At its core is a seamless system design - from inverter to modular battery storage - allowing homeowners to expand storage capacity gradually as needed. Solaredge shares rose by 38% last week to €44.93, making it the best-performing RENIXX stock.
Nordex receives further orders for the German market
The Nordex Group has secured two orders for repowering projects on the Baltic Sea island of Fehmarn. For the Fehmarn-Mitte I and II wind farms, Nordex will supply and install 24 N163/5.X turbines, each with a capacity of 5.7 MW, totaling 136.8 MW. The contracts also include a 20-year premium service agreement. Additionally, Nordex received two orders for eight N175/6.X wind turbines with a total capacity of 54.4 MW from project developer Prowind GmbH in Osnabrück, also including a 20-year full-service agreement. Nordex shares rose by 4.2% to €44.84 at the close of trading.
Vestas continues share buyback - additional 520,000 shares acquired
Danish wind turbine manufacturer Vestas Wind Systems A/S continued its ongoing share buyback program as planned during the week of March 12-18, 2026. The company repurchased a total of 520,000 shares at an average price of DKK 158.83 per share (approx. €21.30), corresponding to a total transaction volume of about DKK 82.6 million (approx. €11.1 million). By the end of the week, Vestas shares were down 4.4% at €20.46.
Ormat Technologies issues $875 million in convertible bonds
Ormat Technologies is issuing senior convertible notes totaling $875 million. The company is offering $725 million of 1.5% Series A notes and $150 million of 0% Series B notes, both maturing in 2031. Originally, a total volume of $750 million had been planned, but the Series A portion was increased. Ormat shares fell by 4.4% to €92.10.
Ørsted’s US offshore wind project back on track after construction halt
The US offshore wind farm Revolution Wind has fed electricity into the New England grid for the first time. After disruptions caused by a temporary suspension under the Trump administration, the project by Danish energy company Ørsted has now reached an important milestone. In the long term, the offshore wind power generated is expected to supply hundreds of thousands of households. Ørsted shares declined by 5% to €18.27.
Revenue and margins at Canadian Solar drop sharply in Q4 2025
Canadian Solar reported a significant decline in earnings in Q4 2025, falling into the red. Revenue came in at $1.2 billion, about 20% below the previous year’s figure and significantly below analysts’ expectations. The decline was even more pronounced on the earnings side: the company posted a net loss of $86 million, compared to a profit of $34 million a year earlier. Earnings per share fell from $0.48 to -$1.66. The stock plunged 23.3% to €12.26, making it the worst performer in the RENIXX weekly ranking.
Technical outlook: RENIXX remains in sideways range
From late 2023 to early January 2025, the RENIXX moved within a pronounced sideways range between 1,000 and 1,200 points. The notable interim low of 748 points in 2025 marked an important turning point and has since served as a key support zone.
From this low, the index recovered significantly and reached a new yearly high of 1,288.68 points on February 24, 2026 - again at the upper end of the previous trading range. However, a sustained breakout above this level has not yet occurred.
Currently, the RENIXX is once again in a neutral sideways phase within the broader range, with a slightly positive bias. The support zone between 1,000 and 1,100 points continues to act as a stabilizing anchor, while the 1,280–1,300 range serves as resistance on the upside.
RENIXX declines at the start of the week
In early trading of the new week, the RENIXX is down. The biggest losses are seen in Xinyi, Nordex, ERG S.p.A., Cadeler, and Canadian Solar. Gains are recorded by Xpeng, BYD, Verbund, Scatec, and Vestas.
About the global stock index RENIXX World
The RENIXX® World (Renewable Energy Industrial Index, ISIN: DE000RENX014) is the world’s first stock index for renewable energy and the oldest global market barometer for this industrial growth sector. It covers wind energy, solar energy, bioenergy, geothermal energy, hydropower, electromobility, hydrogen, and fuel cells.
The index comprises 30 international companies with the highest free-float market capitalization and reflects both performance and global market development in the renewable energy industry.
The RENIXX was launched on May 1, 2006, with a base value of 1,000 points; historical calculations date back to 2002. The index is available via leading financial media and data providers such as Bloomberg, Reuters, Financial Times, BlackRock (Aladdin), and Wallstreet Online.
Source: IWR Online, Mar 03 2026