The government of India is planning to move toward a more sustainable environment. Looking forward to that, they are tying up with different renewable resources firms. Currently, they have set a target of 175 GW of energy from renewable resources. The stats are 100 GW through solar power, 60 GW from wind power, 10 GW from biomass power, and 5 GW from small hydropower. According to the stats, the government is taking major steps towards it.
- What are Renewable Energy stocks, and why will they be beneficial?
- List of Top 10 Best Green Energy Stocks in India
- 1. Tata Power Renewable Energy Limited (TPREL)
- 2. Adani Green Energy Limited (AGEL) – Best Green Energy Stocks in India
- 3. Torrent Power Renewable Energy
- 4. NHPC Ltd
- 5. NLC India Limited
- 6. ZODIAC ENERGY LTD.
- 7. NTPC Limited
- 8. JSW Energy (JSWEL)
- 9. Borosil
- 10. Suzlon
- Frequently Asked Question
Investing in these green stocks can be beneficial for investors in the future. The stock market is a volatile arena, and you invest your capital accordingly. Go through the company details, analyze and then invest accordingly.
This article will cover the top 10 Best Green Energy Stocks in India. These stocks are the major market players currently, and you can think about investing in them.
What are Renewable Energy stocks, and why will they be beneficial?
As mentioned above, the government is taking significant steps towards suitable living eco-friendly tactics. There is a huge disruptive change in the energy landscape, which made people realize the importance of green.
Investors are looking forward to investing in green stocks as the hype is created. The environment has always been a hot topic, and renewable stock is an add-on. Also, green stocks are the most extensive stock investment of the decade. India has set a net-zero target, and investors like Ambani and Adani are all set to fulfill the vision.
Even the investing legend Charlie Munger is bullish on renewable energy.
List of Top 10 Best Green Energy Stocks in India
So here is the List of Best Renewable Energy stocks in India present on the exchange. This list of energy stocks in India is just a suggestion before investing in them; go through the complete research and analysis.
1. Tata Power Renewable Energy Limited (TPREL)
The first one is the Best Green Energy Stocks in India is Tata Power Renewable Energy (TPREL). It is a subsidiary owned by Tata Power Company (Tata Power). The company is listed on BSE and NSE. Tata Power is the leading developer, constructer, and operator of wind and solar power assets.
The initial business of the company is to generate electricity using renewable resources. They have a plant setup of 377 MW of Wind Power in Gujarat, Karnataka, Maharashtra & Tamil Nadu. Moreover, it is spread to 3 MW of Solar Power in Maharashtra.
The other subsidiary Poolavadi Windfarm Limited is developing a 62.5 MW solar project. Also, another one is TP Kirnali is developing a 220 MW solar project.
2. Adani Green Energy Limited (AGEL) – Best Green Energy Stocks in India
The second one on the list is Adani Green Energy(AGEL) and the best green energy stocks in India. They are one of the largest renewable companies in India. Currently, they are handling a project with a portfolio of 13,990 MW. AGEL is the subsidiary of the Adani Group, and the company’s market capitalization stands at ₹ 178,540 Cr.
The power plant’s electricity is supplied to the central and state government entities and government-backed corporations.
With a long-term power purchase agreement (PPAs) with the central and state government entities, AGEL is expanding its reach and currently has its presence across 11 Indian states. Their portfolio holds around 54 operational projects and 12 projects under construction.
3. Torrent Power Renewable Energy
The third one on the list is the Torrent Power Renewable Energy. The current operational capacity is 787 MW in renewables. On the other hand, they have 9 projects spread across various Gujarat, Maharashtra, and Karnataka locations. The complete energy production is around 649 MW of wind power projects and 138 MW of solar power projects. This makes them strong with their asset base of over ₹ 5,000 Crore.
100% of their solar projects and 54% of their wind energy projects are preferential feed-in tariffs. These are the long-term projects of 25 years of Power Purchase Agreements (PPA). The remaining other projects are given to them on their potential.
4. NHPC Ltd
NHPC is an Indian government hydropower board under the Ministry of Power, Government of India, initiated in 1975. The company has an authorizing capital of ₹2,000 million. The company aims to plan, promote, and organize an integrated and efficient development of hydroelectric power in all aspects.
NHPC is working on the construction of 9 projects. This aggregates to a total capacity of 5999 MW. this includes the 2 hydroelectric projects, viz.,
Other company stats are 2000 MW Subansiri Lower HEP and 1 solar Project of 40MW at Odisha. Also, there are 5 hydro projects and 1 solar project under them. These projects are taken forward through Subsidiary/ JV Companies viz. Moreover, the list goes on with the number of projects they handle. In all, they have 15 Projects with an aggregate capacity of 10787.1 MW.
5. NLC India Limited
Another company on the list of Best Green Energy Stocks in India is NLC India. This is a public sector company working on the government’s vision, and they have taken green power generation by a share of 39% Renewable Energy. Moreover, the company is the first central public service that installs a solar project capacity of more than 1 GW. According to the company updates, the aggregate installation capacity is around 1,370 MW.
6. ZODIAC ENERGY LTD.
Zodiac Energy is India’s leading best renewable energy stock, which started in 1992. The current share price is 57.2. Market capitalization currently stands at Rs 83.7 Cr. talking about the company’s quarterly sales; the gross sale is around Rs. 1003.69 Cr and a Total Income of Rs.1006.61 Cr. the management term of Zodiac includes Ambar Patel, Niyati Parikh, Rakesh Patel, Kalpesh Joshi, Dhaval Shah, Jaxay Shah, Bhargav Mehta, Parul Shah, Kunjbihari Shah, Pranav Mehta. The company has its headquarters in Thaltej Ahmedabad, Gujarat.
7. NTPC Limited
NTPC, known as National Thermal Power Corporation, is an Indian statutory corporation. This is a statutory corporation developed under the Companies Act 1956. Currently, it is under the ownership of the Ministry of Power, Government of India. They are the leading electricity generators, and the headquarters of the company is in New Delhi.
The company’s core business is to generate and distribute electricity to the State Electricity Boards in India. They also deal in different projects like consultancy and turnkey project contracts, including the engineering, project management, construction management, and operation and management of power plants.
They also venture into oil and gas exploration and coal mining activities. NTPC is also one of the largest power companies in India, with an electric power generating capacity of 62,086 MW. It has 16% of the total national capacity, contributing to the 25% of total power generation.
Currently, they are operating 55 power stations (24 Coal, 7 combined cycle gas/liquid fuel, 2 Hydro, 1 Wind, and 11 solar projects). Moreover, they have 9 coal and 1 gas station owned by joint ventures or subsidiaries.
8. JSW Energy (JSWEL)
JSW Energy (JSWEL) is another option for Best Energy Stocks to Buy. The company is a part of the JSW Group in India, and it works in different fields of power such as Generation, Transmission, and Trading. JSW Energy currently has 5681 MW of operating generating capacity regarding energy production. In addition to this, they have power generation projects at their early stage of development and have an installing capacity of 8630 MW.
There are different power stations setup. One is JSW Vijayanagar Power Station. The list continues to Toranagallu village in Bellary district, Karnataka. The capacity of the plant is 1460 MW (2×130,4×300 MW) plant. Another plant is JSW Ratnagiri Power Station, Nandiwade village near Jaigad in Ratnagiri district, Maharashtra. This plant has a capacity of 1200 MW (4×300 MW). The list goes on further such as JSW Barmer Power Station, and Bhadresh village. It has a capacity of 1080 MW (8×135 MW).
Another one on the list of renewable energy stocks in India is Borosil Renewables Ltd. It is the one and only solar glass manufacturer in India. Borosoil is a famous brand, and it is has been recognized for its manufacturing range of labware, scientific ware, and consumer ware products.
Talking about the recent venture and expenditure, they have increased their production capacity, and the capacity is getting an increase to 2.5 GW per annum.
They are working on their next expansion of 2.5 GW equivalent and be a 5.0 GW equivalent of solar glass manufacturer by Q1 FY22. Borosil Renewable is facilitated with the National Award 2021 for Successful Commercialisation of Indigenous Technology. Awards add on the list, such as one for developing the “World’s First” fully tempered 2 mm thick solar glass. They have also been developing the lowest iron content giving the highest glass efficiency.
Also, the reason behind the success or the benchmark they have set is low energy consumption in the manufacturing process. The carbon footprint management is 22% lower, compared to the default score for glass manufacturing in Life Cycle Assessment.
Another one on the list of green energy stocks in India is Suzlon. It is among India’s leading renewable energy solution service providers; the company has been revolutionizing and redefining its sustainable energy sources. Currently, the company has its presence in 18 countries like Asia, Australia, Europe, Africa, and the Americas. They have an extensive range of products that comes with cutting-edge technology.
Suzlon is the leading service provider of the wind energy project. Moreover, they are the manufacturer’s designers and the developers of the wind turbine generators (WTGs). They set a record of installing India’s largest wind energy capacity, which stood at 846 MW in FY20.
Conclusion – Best Green Energy Stocks in India
In conclusion, this is the list of the Best Green Energy Stocks in India you can invest in. These stocks are suitable for the future as the government takes initiatives towards a green future. Investing in these stocks can bring you profit in the coming future. Always go through deep research before investing in any of the stocks. Seek expert advice for investing in any green energy stocks India mentioned above.
Frequently Asked Question
Q1. Which are the best renewable energy stocks in India?
There are many options for the best renewable energy stocks in India. Here is the list of energy stocks in India. The top 3 companies out of them are –
1. Tata Power
The first one on the list is Tata Power, one of the leading renewable energy service providers. They have 2.6 gigawatts (GW) power capacity situated in 11 states, and the company aims to go for a massive reduction of 15 GW by 2025.
2. Borosil Renewables
Borosil Renewables is a leading solar glass manufacturer. The company started its solar glass manufacturing in the year 2010 in January.
3. Reliance Industries
Reliance industries look forward to the partnership for the green energy plans. The plan includes solar batteries, and also hydrogen investments. Reliance comes up with the plan to become a net carbon zero firm by 2025.
For the rest of the best renewable energy stocks listed in India, read the article above.
Q2. Who is leading in renewable energy in India?
NTPC is a leading renewable energy service provider in India. The current install capacity is 62910 MW. Moreover, they have 70 Power stations comprising 24 Coal, 7 combined cycle Gas/Liquid Fuels, 1 Hydro, 13 Renewables, and 25 Subsidiary & JV Power Stations.
Adani is dealing in the power sector, thermal, renewables, manufacturing, and transmission. This is a power gain and has influenced the renewable energy shift.
JSW Energy has a power generating capacity of 4,559 MW, out of which 3,158 MW is thermal power, 1,391 MW is hydropower, and 10 MW of solar power.
Q3. What company is leading in solar energy?
Here are the top 3 leading solar energy-producing companies in India.
1. Tata Power Solar
The first one on the list is Tata Power Solar. It is a leading solar power generation company in India, and Tata Power solar used to be known as Tata BP solar. They have manufactured solar modules, solar cells, and other solar products and provide EPC services for solar power projects.
2. Loom Solar
Loom Solar Pvt. Ltd is a leading manufacturer of the mon perc solar panels and AC Module. The current manufacturing capacity of the company is 100 MW. Loom solar has a wide range of solar panels, starting from 10 watts to 450 watts super high-efficiency panels.
3. Jackson Group
The company was established in 1947 and ranked as Top Energy Companies in India. They have a broad portfolio of products ranging from solar modules, kits, solar rooftops, Battery Energy, and Hybrid Energy Storage Solutions.
Q4. Are clean energy stocks expensive?
Usually, clean energy stocks are expensive, and before investing, you need to be sure if you want to or not. The reason behind the expensive factor is the low-interest rates set by the Federal Reserve. Renewable energy will tend to grow in the coming future as the government aims toward a green environment.