Top Renewable Energy Stocks in India 2023
Renewable energy is defined as energy derived from natural sources that replenish at a faster rate than it is consumed. Renewable energy sources, such as sunlight and wind, are abundant and all around us.
As environmental concerns grow, the government is making significant investments in the renewable energy sector, and private companies are also participating in renewable energy production. To that end, the government has increased the previous year’s budget of 7,033 crores by 48%, bringing it to 10,222 crores in the union budget for 2023-2024.
Suzlon Energy was established in 1995 and is based in Pune, India. Suzlon is a global leader in renewable energy solutions, with products in the wind and solar energy sectors. Suzlon Energy Limited is an Indian multinational wind turbine manufacturer and the world’s fifth-largest wind turbine supplier, according to MAKE. Suzlon provides remote monitoring for over 9,700 wind turbines worldwide using SCADA (Supervisory Control and Data Acquisition) technology. They have a market capitalization of 95.86 billion, a 1-year return percentage of -23.47%, a total debt of 3200 crores, and a net income of 78.36 crores.
Adani Renewables Limited
Adani Power is a utility company that is part of the Adani Group. This company was established in 1996 and is headquartered in Ahmedabad. Adani Power is a thermal power producer with a capacity of 12,450 MW that also operates a 40 MW mega solar plant in Kutch, Gujarat. The Kamuthi Solar Power Project, one of the world’s largest solar photovoltaic plants, is managed by the company. They intend to invest 75,000 crores in the solar energy sector by 2024. Adani Power Limited’s stock price target is 197.9 on the downside and 206.9 on the upside. They have a market capitalization of 793.57 billion INR, a 1-year return of 573.94%, total debt of 2.27 trillion, and a net income of 488 crore.
Taylormade Renewables Inc.
Taylormade Renewables was established in 2010 and is based in India. Taylormade Renewables Ltd. (TRL), a BSE-listed MSME, is a pioneer in the renewable energy sector. They also have wastewater treatment and management systems that use renewable energy. They have various technological and industrial collaborations, allowing them to develop various wastewater treatment solutions for the first time in India or the world. They have a market capitalization of 236.26 billion, a 1-year return percentage of 2,052.26%, a total debt of 3.71 billion, and a net income of 0.17 billion.
KPI Global Infrastructure Inc.
KPI Global Infrastructure was established in 2008 and is based in India. KPI Global is now in use. Under the brand name ‘Solarism,’ the Company develops, builds, owns, operates, and maintains solar power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP). They have a market capitalization of 1,729.12 cr, a 1-year return percentage of 90.29%, total debt of 352.30 cr, and a net income of 44.62 cr.
KP Energy Limited
KP ENERGY was established in 2010 and is based in India. KP Energy Limited is Gujarat’s leading balance of plant solution provider in the wind industry, working from project conception to project completion. They are dedicated to creating a sustainable environment in their communities by promoting energy efficiency, water conservation, pollution reduction, plantation, and recycling. They have a market capitalization of 419.5 billion, a 1-year return percentage of 62.16%, a total debt of 28.24 billion, and a net income of 18.4 billion.
SJVN (Satluj Jal Vidyut Nigam) was founded in 1988 and is a public limited company under the government of Himachal Pradesh as well as a government of India venture partner (Nathpa Jakhri power plant). This sector is primarily responsible for hydroelectric power generation and transmission. They have a market capitalization of 13,086.22 crores, a 1-year return percentage of 12.63%, total debt of 6,906.15 crores, and a net income of 989.8 crores.
KKV Agro Powers Limited
KKV Agro Powers was established in 2012 and is based in India. It is a company that generates, transmits, and distributes electricity. They are independent power producers with a power generation facility in Coimbatore. They have a total installed capacity of 10.6 MW, which includes 7.6 MW of wind energy and 3 MW of solar energy. They have a market capitalization of 53.34 crore, a 1-year return percentage of 4.43%, a total debt of 5.35 crore, and a net income of 1.19 crore.
Zodiac Energy Inc.
Zodiac Energy was established in 1992 and is based in India. Zodiac Energy is an Ahmedabad-based solar company that offers turnkey solutions to power companies. They are also at the forefront of the solar industry in India, offering cutting-edge solar energy solutions for residential, commercial, and industrial properties. Solar photovoltaic systems, parabolic troughs, water heaters, and diesel and gas generator sets are all available from the company. They have a market capitalization of 164.70 crore, a 1-year return percentage of -12.54%, a total debt of 17.06 crore, and a net income of 5.48 crore.
NHPC was established in 1975 as a public limited company under the Ministry of Power of the Government of India. The NHPC is a hydropower board that reports to the government and has a capitalization of 2,000 million. They collaborate with the goal of planning, promoting, and organizing an integrated and efficient development of hydroelectric power in all aspects. They have a market capitalization of 43,243.87 crores, a 1-year return percentage of 27.45%, total debt of 26,095.95 crores, and a net income of 3,523.57 crores.
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