Could Uncertainty in the Middle East Drive These Four Renewable Energy Stocks to New Highs?

The war in Iran, as well as the widespread uncertainty throughout the Middle East amid a sharp rise in geopolitical uncertainty, has helped to expose just how fragile the world’s dependence on oil is. Could it become an opportunity for these renewable energy stocks to show their worth?

Following the closure of the Strait of Hormuz, Brent crude oil has soared in value, leading to significant energy constraints for nations that rely on Middle Eastern supplies.

As the international benchmark, Brent crude is currently set for its largest monthly gain on record in March, which has climbed 51% since the beginning of the month, surpassing the previous monthly record of 46%, which occurred in the build-up to the first Gulf War, according to LSEG data.

Unlike in 1990, many global markets have a rapidly evolving concentration of green energy stocks today that are beginning to show their value in offering an opportunity to bypass these age-old reliances on supply and demand.

In the wake of Russia’s invasion of Ukraine, the European Union’s dependence on Russian gas has fallen from 45% to 13%, while renewables have gone from a 30% share of EU power generation in 2019 to 50% by 2025.

Should the Iran conflict drive more global nations and consumers to lower their dependencies on oil, we could see renewable energy stocks offer greater value to investors. But which stocks are best positioned to benefit from shifting mindsets when it comes to clean energy? Let’s take a deeper look at four companies that could thrive amid sustained energy uncertainty in the Middle East:

Brookfield Renewable

One dividend-paying stock with high potential is Brookfield Renewable (NYSE: BEPC), which is a renewable energy producer that specializes in hydroelectric, wind, solar, and battery storage assets that are secured by long-term power purchase agreements (PPAs) with major corporations.

The company’s PPAs are largely tied to inflation rates, helping to support a consistent cash flow across its market environments.

Brookfield Renewable generated $1.3 billion in funds from operations (FFO) in 2025, or $2.01 per share, representing 10% growth from the year prior. These figures are expected to grow comfortably over the months ahead as a renewed emphasis on clean energy drives more client activity.

Prior to the conflict in the Middle East, the company forecasted that rising demand for renewables could help to power more than 10% annual FFO per share growth through at least 2030, supporting dividend growth of 5% to 9% in the process, making BEPC an excellent option for investors seeking passive positions in clean energy.

First Solar

Although the stock hasn’t seen an instant resurgence in value following surges in Brent crude prices, First Solar (NASDAQ: FSLR) remains one of the biggest names in global solar manufacturing with a strong long-term outlook.

With a contracted backlog of around 64 GW extending towards the end of the decade, First Solar has plenty of revenue visibility for the future and is investing heavily to cope with demand by expanding global production capacity towards a target of 25 GW by the end of the year.

Having recorded net sales of $5.2 billion for 2025, First Solar is a company that has managed to generate a significant amount of money relative to its market capitalization prior to recent disruptions to the energy market.

However, the stock remains more exposed to short-term challenges, such as margin pressures, tariff uncertainty in the US, and order cancellations, which have contributed to one broker downgrade for the stock recently. Despite this, changing sentiment towards renewable energy could support higher growth as First Solar grows to meet its order backlogs.

Oklo

Nuclear power is fast becoming a key consideration for global governments, with around 35 countries already either considering, planning, or starting nuclear programs.

This could see Oklo (NYSE: OKLO) gain new prominence as a modular microreactor developer for building reactors in remote and off-grid areas.

Although Oklo’s Aurora microreactor generates only 1.5 MWe on its own, it can be chained alongside others to deliver 15 to 100 MWe per deployment.

One major market advantage Oklo possesses is that its Aurora microreactors can last around 10 years without refueling, while its more conventional counterparts need to be refueled every two years.

It’s important for investors to note that Oklo won’t be capable of generating any significant revenue until its first reactors are deployed in Idaho towards the end of 2027, making this stock a more long-term play. But the company has already secured contracts in Alaska and other remote locations, with analysts expecting its revenue to rally from less than $1 million in 2027 to $36.2m in 2028.

CleanSpark

One of the more curious stocks on this list is CleanSpark (NASDAQ: CLSK), which was originally a manufacturer of modular microgrids for storing wind, solar, and other renewable energy sources but has since made major inroads into the world of cryptocurrency mining.

In 2021, the company acquired the bitcoin mining company ATL Data Centers and provided modular microgrids to its miners. CleanSpark has since replicated the process with more bitcoin miners and even begun mining BTC on its own.

CleanSpark now offers cryptocurrency miners its modular microgrids as a green alternative to fossil fuels.

By the end of Q1 2026, the company held around 13,363 bitcoin (worth around $900 million) in its treasury, while selling the cryptocurrency to boost the expansion of its AI infrastructure business.

“CleanSpark is a key player not only for clean energy investors but also those looking for more crypto exposure in their portfolios,” said Vsevolod Smirnov, Head of Marketing at Just2Trade. “While the crypto landscape is experiencing a prolonged bear market amidst widespread uncertainty, the long-term prospects and adoption rates for digital currencies could create multiple tailwinds for CLSK moving forward.”

“For the years ahead, analysts anticipate growth at a 23% CAGR on the back of ClearSpark’s crypto mining and AI infrastructure services, making this a stock worth tracking.”

Are Renewables an Opportunity?

The conflict in Iran and the closure of the Strait of Hormuz aren’t expected to be long-term headwinds for the energy sector, but they have once again shone a light on the age-old dependencies that can be overcome with a renewed emphasis on clean energy.

With this in mind, renewable energy stocks are certainly worth taking seriously for investors. While the ongoing geopolitical uncertainty may not be a catalyst for exponential growth in the sector, it’s likely to contribute to the growing perception that clean energy is a proposition that’s becoming more valuable by the day.