Hedge Fund Built on Energy Bets Says ‘Clean Is Dead for Now’
https://www.bloomberg.com/news/articles/2025-03-03/hedge-fund-built-on-energy-bets-says-clean-is-dead-for-now
Less than a year after launching a hedge fund dedicated to the green energy transition, its founder says there’s currently no financial gain to be had from investing in renewable power.
“The whole sector — solar, wind, hydrogen, fuel cells — anything clean is dead for now,” said Nishant Gupta, founder and chief investment officer at London-based Kanou Capital LLP.
Against a barrage of political headwinds in the US, a war-fueled energy crisis and stubbornly high interest rates, large parts of the clean-energy industry are stalling. In the past year, the S&P Global Clean Energy Index has lost 20%, a period during which the S&P 500 Index gained 16%.
“The fundamentals are very poor,” said Gupta, who worked at Clean Energy Transition LLP, a hedge fund with about $2.7 billion under management, before branching out on his own last year. “I’m not talking about long term. I’m talking about where I see weakness right now.”
That weakness has been several years in the making…
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