Motley Fool analyst names two renewable-energy mid caps to 'buy and hold for decades'

Investors should pay attention to CleanSpark and Plug Power as the top stocks in the renewable-energy segment, analyst Leo Sun argues in a recent Motley Fool post. Both companies have significant long-term growth potential amid decarbonization initiatives and the expansion of the energy-intensive cloud infrastructure and AI markets, he argues.

CleanSpark

CleanSpark, whose market capitalization on the Nasdaq stands at $4.1 billion, derives its key advantage from its business model, according to the Motley Fool article. The company initially built localized energy systems, or microgrids, to store energy generated from wind, solar, and other renewable sources. Clients could use those systems as stand-alone power supplies or connect them to existing grids.

In 2020, the company acquired Bitcoin miner ATL Data Centers, which was subsequently transitioned to operate on CleanSpark’s microgrids. It later purchased several additional mining assets, moved them onto microgrid infrastructure, and then began selling mined Bitcoins to expand the business. The company subsequently started building AI data centers powered by renewable energy sources.

“That evolution turned CleanSpark into a unique company that addresses the notion that data centers for Bitcoin mining and AI processing are harmful to the environment. It also helps those companies reduce their energy costs and long-term exposure to volatile oil and gas prices,” Sun concludes.

Since the start of the year, CleanSpark shares have surged nearly 58%. The company’s stock has 12 Wall Street analyst ratings, all of them “buy.” The average target price stands at $20.20 per share, implying upside of more than 26% versus the stock’s closing price on Friday.

Plug Power

Plug Power, whose market capitalization on the Nasdaq stands at $5.3 billion, develops hydrogen fuel-cell and storage systems. The company could benefit from expansion of the green hydrogen market, which Grand View Research expects to grow at an average annual rate of 30.2% in 2026-2033, according to the article.

Sun describes Plug Power as a first mover in the market. Its fuel cells and charging systems are used in hydrogen-powered forklifts operated by Amazon and Walmart.

The company expanded rapidly in 2022-2023, partly through acquisitions, the Motley Fool analyst wrote. That growth stalled in 2024 after many companies paused their hydrogen projects, he noted. The Financial Times attributed the slowdown to spiraling costs, policy uncertainty, and a lack of buyers, noting “the willingness to pay any sort of green premium across all low-carbon technologies has evaporated.”

The situation shifted again in 2025, the Motley Fool analyst wrote. For full-year 2025, Plug Power reported a nearly 13% increase in net revenue to $709.9 million; in the first quarter of 2026, the company posted a 22% year-over-year increase in the bottom line to $163.5 million. Sun attributed last year’s momentum to Fed rate cuts and the resumption of U.S. government-backed green hydrogen projects.

Since January 1, the company’s shares have surged nearly 92%. However, Wall Street is cautious about their further outlook. The stock currently has 11 “hold” ratings, seven “buy” recommendations, and four “sell” ratings from analysts. The average target price of $3.55 per share is 6% below the stock’s closing price on Friday.