It hardly has the lofty profile of, say, the Dow Jones Industrial Average, whose 30 stocks comprise an index widely (if mistakenly) thought to capture the gyrations of the entire market. But if renewables are your focus, NASDAQ’s Clean Edge Green Energy Index is the one to watch—and it’s getting a bit of a facelift.
NASDAQ announced that beginning Sept. 20, three new companies will join the index: smart-grid company PowerSecure; electric-vehicle manufacturer Tesla Motors; and power-system maker Vicor. At the same time, five companies—Ballard Power Systems, Capstone Turbine, Evergreen Solar, FuelCell Energy and UQM Technologies—will get the heave-ho. The index currently carries 53 companies.
In a press release, NASDAQ said it reassesses the index every March and September, adjusting its roster to reflect the shifting terrain in five sectors it covers: renewable electricity generation, renewable fuels, energy storage and conversion, energy intelligence and advanced energy-related materials. Securities included have to meet eligibility criteria that include minimum requirements for market value, average daily share volume and price.