List of Green Energy Stocks to Invest in India
One of the most sunrise sector that everyone is interested in recent times is the green / renewable energy companies. Green energy encompasses a wide spectrum of renewable energy sources that contribute to a cleaner and more sustainable future by emitting minimal to no pollution. Among the forefront sources of green energy are sunlight, wind, and heat, offering abundant and renewable solutions for a cleaner planet.
The entire world is talking about climate control ,climate change , clean energy , less pollution. The goal for India to achieve the net zero feat by 2070 has started its roots already. It’s a Green new deal for a Net Zero India. World Economic Forum (WEP) published its report titled “Mission 2070: A Green New Deal for a Net-Zero India” to provide a roadmap for India’s energy transition.
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Highlights
The report was published in the backdrop of India’s target to achieve net zero emissions by 2070. This target was committed by Prime Minister Narendra Modi at COP26 global climate summit in Glasgow.
At the summit, PM Modi also committed:
- To bring non-fossil energy capacity of India to 500 GW by 2030,
- To lower carbon intensity to 45 per cent by 2030
- To reduce 1 billion tonnes of carbon emissions out of total projected emission by 2030.
- To fulfil 50 per cent of energy requirement using renewable waste by 2030.
Key Findings of the report
- Report highlights that, India’s transition towards a green economy could contribute about $1 trillion in economic impact by 2030. It will create more than 50 million jobs.
- The economic impact would increase to $15 trillion by 2070.
- Report notes that, India’s commitments are a critical foundation for achieving 1.5-degree Celsius global warming target.
- India is on the frontline of climate change. More of Indians are exposed to negative effects of climate change and extreme weather events as compared to other nationality.
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3 Type of Top Renewable Energy Stocks in India
The different type of green energy stocks are as follows :
1- Solar energy stocks
Solar energy stocks refer to stocks in the production, development, or distribution of solar energy products and services. These companies may manufacture solar panels, develop solar power projects, provide solar installation services, or produce related equipment and technology.
2- Hydro Energy stocks
Enterprises overseeing hydroelectric power stations harness the natural flow of water to produce electricity, exemplifying sustainable energy practices. Stocks associated with these environmentally conscious companies are often referred to as hydro energy stocks.
3- Wind Energy Stocks
Wind energy stocks refer to companies that are engaged in the generation, development, or distribution of wind energy. These companies may own and operate wind farms , manufacture wind turbines and related equipment, provide maintenance and consulting services for wind energy projects. develop wind energy technology.
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Best Green Energy Stocks in India
Let's see which is best stock in green energy?
1- Gensol Engineering
Gensol Engineering is involved in the business of solar consulting & EPC. It provides concept to commissioning solar advisory, execution and operation services for solar projects in India and abroad. Expanding its operations, Gensol has also established an EV manufacturing facility in Pune, India, for the development and production of electric three wheelers and four wheelers. Alongside, Gensol offers comprehensive EV leasing solutions and is serving leading ride-hailing players with its buy-and-lease package of EV cars.
2- KPI Green Energy Ltd.
With 28 years of experience in renewable energy, KPI Green Energy Ltd. is a reputable solar energy firm in Gujarat. They are recognised as Independent Power Producers (IPPs) and Captive Power Producers (CPPs) and operate under the "Solarism" brand. The product of KPI Green Energy provide a consistent and long-lasting supply of solar power to their customers thanks to their substantial land bank and excellent 312 MW capacity.
Their committed group of specialists and scientists work to improve the efficiency of their solar plants, making them a dependable and creative participant in the market. The stock has given magnanimous returns of more than 400% in the last 1 year and is one of the top performing green energy company in India.
3- KP Energy Ltd.
KP Energy Limited is a prominent player in the renewable energy stocks, focusing on wind power generation. The Company provides complete solutions for building wind farms, including engineering, purchasing, construction, and setup services. They also act as Independent Power Producers (IPP), owning and running their own wind power plants. KP Energy Limited works with various business customers in the Renewable Energy sector.
Their services include EPCC solutions for wind turbine manufacturers, operating as an IPP with their wind energy assets, and providing maintenance services to power consumers. By catering to these B2B customer segments, KP Energy plays a significant role in facilitating the growth and development of renewable energy companies projects in the market. The Company plans to enhance its power generating portfolio by installing 100 MW of its own power generating assets under the IPP segment by 2025.
Under IPP, the Company’s current portfolio comprises of wind energy assets of 8.4 MW and a recently commissioned 10 MW dc solar power project. The Company has a solid plan for developing wind, solar, and hybrid power projects. They are in talks with well-known independent power producers (IPP) about creating large-scale projects in Gujarat. It will help increase revenue from their engineering, procurement, and construction (EPC) work.
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4- Waaree Renewables Technologies Ltd.
Established in 1999, Waaree Renewables Technologies Ltd specializes in power generation through renewable energy sources and offers consultancy services in this field. As one of the largest vertically integrated new energy companies, Waaree Energy boasts India's largest solar panel manufacturing capacity of 12 GW across its facilities in Chikhli, Surat, and Umbergaon in Gujarat.
With a focus primarily on solar photovoltaic (PV) technology, the company's renewable energy endeavors encompass solar pumps, solar parks, captive consumption, floating solar, and rooftop solar solutions. Waaree also provides comprehensive EPC (Engineering, Procurement, and Construction) solutions for ground-mounted solar projects. Renowned as the leading Indian module manufacturer, the company stands at the forefront of advancing solar energy technology.
5- Websol Energy System Ltd.
Websol Energy System is a leading manufacturer of solar cells and modules in India, uniquely positioned as the only pure-play listed solar cell manufacturer. Despite some risks associated with low promoter holding and stagnant revenue growth, Websol operates in a promising market. India's ambitious goal of achieving 500 GW of renewable capacity by 2030, with solar contributing over 60% (equivalent to around 280 GW), presents significant opportunities. With current solar capacity at approximately 50 GW, Websol stands to benefit from the country's impending solar energy revolution.
Conclusion
As the global economy increasingly values sustainability, the energy sector becomes increasingly critical. The growing focus on green energy presents a host of opportunities, prompting both established companies to adapt and new ventures to emerge. With resilience to market volatility and potential for long-term growth, green energy stocks are a promising addition to any diversified investment portfolio. Which are the stocks that have been on your watchlist in this segment? Do let us know!
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