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Green Energy stocks are surging rapidly as investors are seeking more and more good Green Energy Stocks because of the shift of the country from Fossil Fuels to Green and sustainable energy sources which include Solar, Hydro, Wind and so on.
India is a rapidly growing economy and hence it needs more and more energy and as of now more than 75% of our energy sources are generated from Fossil Fuels and this causes Global warming which is a bigger issue than everything, hence the government is subsidizing, prioritizing, popularizing, and promoting Green energy sources – so that life can be made easier and healthier along with this planet.
In this race of producing and use Green Energy sources Indian Government has also set some ambitious goals which include – Producing half of the Electricity from Green or Renewable sources by 2030 and achieving net zero emissions by 2030. Seriously these are some of the difficult goals to achieve.
Hence we need more and more companies that are involved in the Green Energy Sector, but as of now, we are missing them. As a result, the Green Energy stocks that are listed on the NSE are rising rapidly, and some of them have given more than 100% returns this year alone.
So, in this Article, we are covering some of the top Green Energy Stocks that are listed on the Indian Stock Exchange and making a positive change to the world.
India’s Renewables Energy Market Size was valued at USD 21.1 Billion in 2022 and the Energy market industry is projected to grow to $46.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.77% during the forecast period (2023 – 2032) – (source)
And, the government has already allocated Rs. 19,500 crore (US$ 2.57 billion) for a PLI scheme to boost the manufacturing of high-efficiency solar modules in the country – (source)
– which means, the Green Energy Sector is booming, and the government is already focused, which means the market is definitely going to expand, and investing in Green Energy is the best decision you can make.
List of Top 10 Green Energy Stocks in India
- Waaree Energies
- Adani Green Energy
- KPI Green Energy
- JSW Energy
- Orient Green Power
- Suzlon Energy
- SJVN
- K.P. Energy
- BF Utilities
- Premier Energies
But before we move ahead, here are some of the facts about Green Energy in respective of India.
Facts about Green Energy Stocks in India
- India is the 3rd Largest Energy Consuming country in the world.
- India ranks 4th globally for total renewable power capacity additions
- India has already achieved 40% of its target of Achieving Electricity from Green Energy
- India’s Green Energy sector is projected to grow to $46.7 billion by 2032 (source)
- India is endowed with abundant solar energy capable of producing 5,000 trillion kilowatts (kW) of clean energy, According to IREDA (source)
Top 10 Green Energy Stocks in India to Invest
| Top AI Stocks | 5 Year Return | Market Cap (in Cr.) |
|---|---|---|
| Waaree Energies | – | Rs.14,892 |
| Adani Green Energy | 90% | Rs.2,69,072 |
| KPI Green Energy | 187% | Rs.10,324 |
| JSW Energy | 76% | Rs.1,20,229 |
| Orient Green Power | 52% | Rs.2,231 |
| Suzlon Energy | 115% | Rs.93,159 |
| SJVN | 66% | Rs.43,915 |
| K.P. Energies | 224% | Rs.3,757 |
| BF Utilities | 58% | Rs.3,546 |
| Premier Energies | – | Rs.45,041 |
Now, let’s discuss the best Green Energy Stocks one by one.
Also Read: Top 10 AI stocks in India
Best Green Energy Stocks in India – An Overview
1. Waaree Energies
| Market Cap | Rs.83,296 Cr |
| Analyst Rating | % |
| Dividend Yield | 0.00% |
| P/E Ratio | 67.34 |
Founded in 1990, Waaree Energies has its headquarters in Mumbai, India. It has India’s largest aggregate installed capacity of 12 GW as of June 30, 2024, at its plants in Chikhli, Surat, Tumb, and Nandigram in Gujarat.
Waaree Energies is India’s largest solar panel manufacturer, with an operational capacity of 12GW for solar PV modules like Mono PERC, Bifacial, BIPV, Flexible, and Polycrystalline modules as of June 30, 2023 (Waaree).
The Company has a market cap of Rs.83,000 crores with a P/E ratio of 67 which is below the industry average, which is good.
2. Adani Green Energy
| Market Cap | Rs.2,69,072 Cr |
| 1 Year Return | 90% |
| Dividend Yield | 0.00% |
| P/E Ratio | 238.57 |
Adani Green Energy is one of the largest Green Energy stocks in India and also one of the largest Green Hydrogen Energy producers in the world. Incorporated in 2015 – it became the largest Renewable Energy producer in the country with a current project portfolio of 20,434 MW.
It is a part of the Industrial conglomerate Adani Group, and the company promises to provide a better, cleaner, and greener future for India.
Adani Green Energy has a market cap of Rs.2,69,072 Crore and the stock of this company has given 90% return in a 1-year time frame and has a Stock Price CAGR of 80% in the last 5 years.
3. KPI Green Energy
| Market Cap | Rs.10,324 Cr |
| 1 Year Return | 187% |
| Dividend Yield | 0.03% |
| P/E Ratio | 53.07 |
KPI Green Energy is an India-based solar power Generation company that was founded in 2008 in Gujrat, which was formerly known as K.P.I. Global Infrastructure and a part of KP Group.
The main work of the company is to generate and supply Solar based Electricity but the company also Builds, Maintains, Develops, and operates Solar Power Plants under the brand name Solarism.
The Stock of KPI Green Energy has risen significantly in the last 5 years with a CAGR of 158% and as of writing this article, the stock has given more than 180% return in just 2024 alone. The company has a market cap of Rs, 10,324 Crore with a P/E ratio of 53.07 which is below the industry average.
4. JSW Energy
| Market Cap | Rs.1,20,229 Cr |
| 1 Year Return | 76% |
| Dividend Yield | 0.27% |
| P/E Ratio | 61.53 |
Founded in March 1994, as a joint venture between JSW Steel Limited and Tractebel, JSW Energy has become one of India’s leading Green Energy Companies with its Cutting-Edge Technology, Structured Planning, Proper Management, and Managed Operations.
JSW Energy is currently generating 6,677 MW, out of which 3,158 MW is thermal power, 1,391 MW is hydropower, 1,461 MW is wind, and 667 MW is solar power which is presented at the Pan India level.
The stock of JSW Energy has given more than 75% return in just 1 year which is huge, and the company has reached a market cap of Rs.1,20,229 Crore with a P/E ratio of 61.53 which is nearly double the Industry Average.
5. Orient Green Power
| Market Cap | Rs.2,231 Cr |
| 1 Year Return | 53% |
| Dividend Yield | 0.00% |
| P/E Ratio | 63.40 |
Orient Green Energy was founded in December 2006 in Tamil Nadu and is a leading Indian Renewable Power Generation Company which is engaged in the business of power generation from various Green Energy sources mostly Wind Energy.
The company has currently a project portfolio of 402.3 megawatts of wind Energy presented across most of the south Indian states and Gujrat. This company has also installed its plant in Europe in Croatia with a projected capacity of 10.5 MW of wind Energy.
Orient Green Energy stock has given a significant return in 1 Year and has a 5-year CAGR of 70% which is impressive with a market cap of Rs.2,231 Crores.
6. Suzlon Energy
| Market Cap | Rs.93,588 Cr |
| 1 Year Return | 115% |
| Dividend Yield | 0.00% |
| P/E Ratio | 107.55 |
Suzlon Energy was founded way back in 1995 by Tulsi Tanti in Pune, India. It is one of the leading Global Renewable and Green Energy solutions providers including 17 countries across Asia, Africa, Australia, Europe, and the Americas.
The company is mainly involved in Wind Energy Production and maintenance, with over ~20.8 GW of wind energy which alone helps in reducing more than ~53.37 million tonnes of CO2 emissions every year. Suzlon is a market leader with 111+ wind farms and an installed capacity of over 14,820 MW. (source)
Suzlon Energy has a market cap of Rs.93,588 Crore and the stock has given a tremendous 115% return in just 1 Year and a 5-year CAGR of 96% which is very impressive and the company’s P/E Ratio is also maintained the Industry average, making it a prominent contender of Green Energy Stocks in India.
7. SJVN
| Market Cap | Rs.43,915 Cr |
| 1 Year Return | 67% |
| Dividend Yield | 1.61% |
| P/E Ratio | 44.00 |
SJVN is a government-owned green Energy company founded in 1988 under the Companies Act with the RoC under the name “Nathpa Jhakri Power Corporation Private Limited”.
The company is mainly engaged in the business of generating Electricity through various Green Energy sources including Wind, Hydro, and Solar Energy. SJVN also manufactures key components used in generating Green Energy, provides services including consultancy and transmission, and is involved in Power Trading.
The stock of SJVN has given a significant return of 67% in 1 Year where the company’s market cap has risen to Rs.43,915 Crores where the company pays out a healthy dividend of 1.61% with a stock P/E of 44.00 which is a bit higher than industry average.
8. K.P. Energies
| Market Cap | Rs.3,757 Cr |
| 1 Year Return | 224% |
| Dividend Yield | 0.08% |
| P/E Ratio | 61.23 |
Founded in K.P. Energy is a part of KP Group by Faruk Gulambhai Patel which mainly assisted in Wind Farm development and its related aspects including the generation of Electricity from Wind Energy along with operations and maintenance of wind Energy and its related components.
K.P Energy stock has given a significant return in the last 5 years with a CAGR of 82% and in just 10 months of 2024, K.P Energy has risen 218% which is humungous.
The company has a market cap of Rs.3,757 Cr where the company also gave a minor dividend of 0.08% with a P/E of 61.23 which is a bit higher than the industry average.
9. BF Utilities
| Market Cap | Rs.3,546 Cr |
| 1 Year Return | 58% |
| Dividend Yield | 0.00% |
| P/E Ratio | 25.69 |
BF Utilities was founded in September 2000 under the Companies Act 1958 in Maharastra with a demerger scheme with Bharat Forge Ltd. It is an India-based power generation company that generates Electricity from Windmills. The company also operates in the infrastructure segment.
This company has a market cap of Rs.3,546 Crores where the stock has given an impressive 58% in a 1 Year Time Frame the company does not give any dividends but the stock price of BF Utilities has given a return with a CAGR of 32% in 5 Years.
10. Premier Energies
| Market Cap | Rs.45,041 Cr |
| 1 Year Return | – |
| Dividend Yield | 0.00% |
| P/E Ratio | 194.78 |
Premier Energies was founded in April 1995 but was listed on the NSE in September 2024 which is relatively new compared to other stocks in this list.
The company is mainly focused on Solar Energy components manufacturing like solar Cells and Panels and it is one of the prominent players in Integrated solar cell and module manufacturing.
Premier Energies’ manufacturing units in Telangana cover over 44.91 acres, with a production capacity of 2 GW for solar cells and 3.36 GW for solar modules as of March 31st, 2024. An additional Topcon Cell and module line is under development, spanning 75 acres. (source)
The company is relatively new but has a market cap of Rs.45,041 Crores with a P/E ratio of 194.78 which is double the industry average.
Final Words
Green Energy is the Future and in India, it is one of the fastest growing sectors with huge potential and not only in India but all over the globe. As the world moves from thermal energy to green energy these companies would get the most exposure and they are the early movers and if you want to grow with the growing sector then you also need to invest in Green Energy stocks. But before investing do your own research.
Faq’s related to Best Green Energy Stocks in India
