The increasing focus on sustainability and renewable resources drives a major expansion and revolution in India’s green energy sector. With its ambitious renewable energy targets, India has seen significant growth in its green energy sector. Here is a list of India’s top 10 green energy company of 2024, ranked by market capitalization including top businesses harnessing solar, wind, hydro, wind, solar, and other renewable sources.
What is Green Energy?
Green energy refers to energy generated from natural sources such as sunlight, wind, rain, tides, and geothermal heat. These energy sources are renewable, meaning they are naturally replenished, and they have a minimal impact on the environment compared to fossil fuels.
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What is Green Energy Company Stock?
Green energy stocks show companies developing technologies using renewable resources like sunlight, wind, heat, low-impact hydroelectric sources, and some forms of biomass. These companies in India focus on reducing pollution and carbon emissions, aiming to reduce dependency on fossil fuels. By investing in green energy, they promote sustainable and environmentally friendly alternatives to traditional energy sources.
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List of Top 10 Green Energy Company Stock in India by Market Capitalisation
| Name | Sub-sector | Market Cap (Cr) |
| KP Energy Ltd | Renewable Energy | 2,975.04 |
| BF Utilities Ltd | Renewable Energy | 3,051.27 |
| KPI Green Energy Ltd | Renewable Energy | 12,714.51 |
| SJVN Ltd | Renewable Energy | 52,246.63 |
| KKV Agro Powers Ltd | Renewable Energy | 70.29 |
| Orient Green Power Company Ltd | Renewable Energy | 2030.10 |
| WAA Solar Ltd | Renewable Energy | 224.81 |
| Energy Development Company Ltd | Renewable Energy | 112.81 |
| NHPC Ltd | Renewable Energy | 91,460.04 |
| Adani Green Energy Ltd | Renewable Energy | 2,87,129.65 |
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KP Energy Ltd
KP Energy is an Indian small-cap green energy company that specializes in constructing windmill infrastructure for the development of geothermal energy. Compared to the industry average of 10.91%, its stock has increased at an amazing yearly rate of 49.06% over the last five years. It is now one of the green energy stocks in India that is rising the fastest. In addition, KP Energy’s market share has grown from 0.3% to 1.31%. It is highly ranked on India’s list of renewable energy stocks and has a solid five-year return on investment.
BF Utilities Ltd
BF Utilities Ltd uses windmills to provide renewable energy. Its sales increased by 13.5% during the previous five years, exceeding the 10.91% industry average. Additionally, the company’s market share grew, rising from 2.07% to 2.29%. Strong profitability and efficiency which has ROE and cash flow ratings.
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KPI Green Energy Ltd
The solar power committed KPI Green Energy has had impressive growth, with an annual revenue rise of 82.91%, significantly higher than the industry average of 10.91%. Its market share has increased from 0.16% to 1.91% in the last five years.
SJVN Ltd
An Indian PSU called SJVN Ltd., formerly known as Satluj Jal Vidyut Nigam, produces and distributes hydroelectric power. They have performed well, with a good profit score and cash flow score, during the last five years, despite seeing a decline in market share from 13.28% to 9.74%. Go here to learn more about the company’s historical performance.
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KKV Agro Powers Ltd
Based in Coimbatore, KKV Agro Powers Limited is an independent power producer with an emphasis on renewable energy. Over the previous five years, this small-cap firm has had remarkable revenue growth of 177.35% annually, all without any dividend reductions. In the same period, its market share has increased from 0.04% to 3.66%.
Orient Green Power Company Ltd
Orient Green Power Company Ltd. has a commitment to producing wind-powered renewable energy. It has a market capitalization of ₹2,049 crore and exhibits great profitability and efficiency.
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WAA Solar Ltd
WAA Solar Ltd. specializes in solar power generation and makes investments in subsidiary companies and SPV associates for solar projects. With a 5-year compound annual growth rate of 53.32%, the company does well. It has an exceptional level of profitability and efficiency.
Energy Development Company Ltd
The primary objective of the Energy Development Company is the production and transmission of hydroelectric power. It is now not overvalued, with a net profit margin of 10.01%, making it a good choice for green energy investors.
NHPC Ltd
Established in 1975, NHPC Ltd. is an Indian Government Utility that focuses on producing hydropower and effectively developing hydroelectric power projects. Strong profitability is demonstrated. The large-cap stock is currently priced higher than usual, but it is not in the overbought area, so investors may want to give it some thought.
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Adani Green Energy Ltd
The Adani group’s Adani Green Energy Ltd., with a market valuation of ₹2,64,446.30 crore, is among India’s top 10 green energy company and renewable energy enterprise. AGEL has a diversified portfolio of wind and solar power projects. With a 5-year compound annual growth rate of 110.56% and an annual revenue growth rate of 41.52%, it has produced outstanding annualized returns, considerably outperforming the industry average of 10.93%. Over the previous five years, the company’s market share increased from 7.69% to 25.7%.
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Why Should you Invest in Green Energy Company in India?
Investing in green energy stocks or mutual funds supports the transition to sustainable energy sources and can offer substantial financial returns. India’s renewable energy sector is rapidly growing, driven by government initiatives and increasing demand for clean energy, making it a promising investment opportunity.
Wrapping up
The growth of sustainable energy solutions and the mitigation of environmental damage are important duties carried out by these top 10 green energy company in India by market capitalization in 2024. Their innovative work in renewable energy technologies not only helps India make the transition to a more environmentally friendly economy, but it additionally promotes economic expansion, improves energy security, and generates employment.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions. SBNRI does not intend to predict future returns, please read all related documents before investing.
FAQs
Which is the biggest green energy company in India?
For the fiscal year 2023-2024, Adani Green Energy Limited reported a revenue of $759.1 million.
Who is the leader in Green Energy?
China is the leader in the green energy segment in the world.
What is the rank of India in Green Energy?
India ranks 4th globally in Renewable Energy Installed Capacity (including Large Hydro), 4th in Wind Power capacity, and 5th in Solar Power capacity, according to the REN21 Renewables 2024 Global Status Report. At COP26, the country set an ambitious target of achieving 500 GW of non-fossil fuel-based energy by 2030.
Who is the father of green energy in India?
M.S. Swaminathan is known as the father of green energy in India.
Who are the big investors in green energy?
Amazon is a major investor in green energy, with over 500 solar and wind projects worldwide. In 2023, it invested in more than 100 new projects, making it the largest corporate buyer of renewable energy globally for the fourth consecutive year. This investment portfolio is substantial enough to power 7.2 million U.S. homes annually.
What is the market capitalisation of NTPC Renewable Energy Ltd.?
NTPC Renewable Energy Ltd. has a market capitalisation of ₹780 billion. The company focuses on developing solar, wind, and hybrid projects and aims to add significant renewable energy capacity to India’s grid.
What are India’s renewable energy targets for 2030?
India has set an ambitious target of achieving 500 GW of non-fossil fuel-based energy by 2030, as announced at COP26. This goal underscores the country’s commitment to transitioning to sustainable energy sources and reducing its carbon footprint.
