The force behind Meridian's sky-rocketing share price: BlackRock

Fri, 08 Jan 2021

A rush of investment into global hedge fund BlackRock’s clean energy exchange traded funds is pushing shares in local renewable electricity generators to levels that local analysts fear are artificially high. Meridian Energy and Contact Energy shares both surged more than 20 percent this week, as foreign investors piled into BlackRock’s clean energy ETFs after Democrats swept to victory in the recent United States’ elections.The pair together make up 9.5 percent of S&P Dow Jones’ Global Clean Energy Index, which...

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