Bank of America analysts have identified a number of stocks in Europe that they say are poised to benefit from almost $2 trillion worth of investment in coming decades.
In a note Wednesday, the analysts said that utility firms' renewables divisions should be viewed as growth businesses, given the long-term investments being made due to climate goals.
They expect 1.5 trillion euros worth of future capital expenditure (capex, or investment) in utility companies' renewables units through to 2050.
BoA named three companies in the pan-European utilities sector that give investors, "the most compelling way to get exposure to renewables with 25-45% upside potential."
"Future growth potential can no longer be ignored," the analysts added.