Shares of Brookfield Renewable (NYSE: BEP)(NYSE: BEPC) rallied as much as 5.3% by 11 a.m. EST on Wednesday. Powering the renewable energy stock was the anticipated outcome of the Senate runoffs in Georgia.
Democrats appear poised to capture both Senate seats in Georgia following a runoff election on Tuesday. That would give the political party full control over the U.S. government, making it easier to pass legislation. That powered speculation that they might offer more support to the solar energy industry, which could accelerate its growth rate.