What happened Turning in a similar performance to their 80% rise in 2019, shares of Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) soared 74% in 2020, according to data from S&P Global Market Intelligence. In addition to acquisitions, favorable outlooks on the company's stock from Wall Street and Joe Biden's presidential election victory powered investors' excitement for this renewable energy leader. Image source: Getty Images. So what Two months after announcing that it had submitted an offer to acquire TerraForm Power in an all-stock deal, Brookfield Renewable reported in March that the two businesses had entered into a definitive agreement. Finally, in late July, Brookfield completed the acquisition, bolstering its portfolio with TerraForm Power's 4,200 megawatts (MW) of solar and wind assets. With the deal completed, Brookfield Renewable expanded its total portfolio of renewable power assets to 19,000 MW. Then, in December, Brookfield announced its plan to grow -- and brighten -- its portfolio even more through the $810 million acquisition of solar assets from Exelon. In addition to 360 MW of distributed generation capacity, Exelon's assets include 700 MW of projects in development. Bullish opinions from Wall Street represented another catalyst that motivated investors to pick up shares. In March, for example, R.F. Lafferty initiated coverage on the stock and assigned a $59 price target, according to Thefly.com. At the time, shares were trading at only $29. With shares rising through the summer, optimism surrounding the stock didn't ebb. Moses Sutton, an analyst at Barclays, raised his price target to $63 from $54 and maintained an overweight, or buy, rating. President Trump, who withdrew the U.S. from the Paris Climate Agreement, made no secret of his lack of interest in renewable energy. When President-elect Biden won in November, investors recognized the potential boon for renewable energy-affiliated stocks like Brookfield Renewable -- especially since he favors spending $2 trillion on renewable energy projects during his first term. Now what After a market-beating performance in 2020, Brookfield Renewable has remained supercharged so far in 2021, climbing more than 13% to the S&P 500's 2% rise. For investors bullish on renewable energy, Brookfield Renewable provides investors with a comprehensive approach -- one that could possibly power their portfolios for many years to come. 10 stocks we like better than Brookfield Renewable Corporation Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Brookfield Renewable Corporation Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Scott Levine owns shares of Brookfield Renewable Inc. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source