The Russia-Ukraine war set off a cascading series of events that have reverberated loudly across the entire globe. One of the notable consequences has been the steep rise in the price of oil. A harsh light was shone on Europe's over-reliance on Russian fuel and gas, leading to uncertainty around the future of its energy production.

Global governments were already working to move away from fossil fuels in the coming decades, but this -- hopefully -- once-in-a-lifetime event has forced more expedited thought on the process. Renewable energy companies have seen heavy investment as a result.

With that in mind, here are two companies that could be poised to profit from the shift towards renewable energy.

NextEra Energy

NextEra Energy (NYSE: NEE) is currently the world's largest energy producer for both wind and solar. It has seen a surge of over 24% from recent lows in May, massively outpacing the S&P 500 for the same period. NextEra's foundation is based on its utility arm, with its Florida Power & Lights subsidiary currently the largest regulated electric utility in the U.S., serving over 11 million people.

With this solid revenue stream in place, the company expanded rapidly into renewable energy. Currently boasting 22 gigawatts of renewable power capacity, the firm is aiming to add up to 30 gigawatts by 2024 -- more than doubling its already industry-leading figures.

The combination of a steady utility service and a rapidly growing new technology creates a stock with both a high floor during volatile times and a high ceiling for growth that should have investors scrambling to add it to their portfolio.

Plug Power

Hydrogen fuel cell manufacturer Plug Power (NASDAQ: PLUG) has seen significant investment over the past number of months. A jump of over 11% in the past six months following an up and down year typifies the type of behavior that has been caused by the current geopolitical climate. 

Plug Power already has a list of very reputable organizations within its existing customer base, with Amazon and HomeDepot numbered amongst its clients. The firm provides fuel cell solutions for these companies in an attempt to reduce their carbon footprint. The company is also making a significant effort to produce green hydrogen, a renewable energy source formed by splitting water.

It must be noted, however, that Plug Power has still yet to return a profit. It may be extremely well-positioned to benefit and grow as the world moves to more renewable sources of energy, but it is still a highly speculative stock that has a lot to prove.