Best Renewable and Green Energy Stocks in India-2024

Green Energy Sector: Overview

The country has ambitious targets to generate 50% of electricity from non-fossil fuels by 2030 and achieve 'net zero' emissions by 2070. The country has very aggressive plans for clean energy initiatives, prioritizing the clean energy initiative that needs to be achieved.

The Prime Minister's Life for Environment (LiFE) program formed the very core of Green Growth. The objective has led to significant growth in the Indian renewable energy sector; in the last year alone, more than 15 Indian renewable energy stocks have increased by over 100%.

 

 

Best Green Energy Stocks in India | Best Renewable Energy Stocks to Invest (2024)

Let's see some top 3 energy stocks in India that are performing well and also see their market strengths.

 

1. Adani Green Energy Ltd.

The company is part of the Adani Group and one of the most recognized green energy firms in India, with headquarters in Ahmedabad. This is one of the biggest solar photovoltaic facilities in the world, the Kamuthi Solar Power Project, run by AGEL, founded by Gautam Adani in 2015. The company's revenue has increased at an annual pace of 38.22% during the past five years.

The Adani Green Energy PE ratio is 209, ROE is 17.1%. The book value is 66.8. The Adani Green Energy market cap is Rs.2,69,618 Cr. Adani Energy Green's Share price is Rs.1702 and one-year returns are 33.4%

This company has 60.93% reserved for promoters, 15.16% for foreign Institutions (FIIs), 1.45% for DIIs, and 22.45% for public as of September 2024. With its stock highlights it is considered among the top green energy stocks in India. 

 

2. KP Energy Ltd. 

KP Energy is one of the major BoP solution providers for wind energy projects in Gujarat, India. The company has executed over 1 GW of wind energy projects and offers services under EPC, O&M, and asset management. This Indian solar power company has observed annual growth in revenues by about 24.81% compared with an industry average growth rate of 11.03%. 

The KP Energy PE ratio is 62, ROE is 37.1%. The book value is 27.8. The KP Energy market cap is Rs.3761 Cr. KP Energy Share price is Rs.563 and one-year returns are 215%. 

This company has 45.01% reserved for promoters, 0.48% for foreign Institutions (FIIs), 0.05% for DIIs, and 54.45% for public as of September 2024. With its strong financials, it is among the top solar power companies in India.

 

3. BF Utilities Ltd. 

A small-cap wind energy company, BF Utilities Ltd. was founded in India in 2000. It uses windmills to produce electricity and works on infrastructural projects. 

BF Utilities PE ratio is 128, ROE is 7.05%. The book value is 39.3. The BF Utilities market cap is Rs.3546 Cr. BF Utilities Share price today is Rs.942 and one-year returns are 56.8%. 

This company has 56.74% reserved for promoters, 1.11% for foreign Institutions (FIIs), 0.14% for DIIs, and 42% for public as of September 2024. With its stock highlights it is considered among the top renewable energy companies in India. 

 

Advantages of Green Energy Stocks / Why Invest in Green Energy Stocks 

• Putting stocks in the renewable energy or wind energy industry happens to be very rewarding as this sector is growing rapidly. It is easier for investors to decide how well these stocks may perform in the market since most of them have attached prices to the list of green energy stocks.

• The investment in the renewable energy or wind energy sector can be very rewarding as the growth rate is quite high. More such stocks can now be evaluated with the green energy stocks list that has included most of them along with the prices. 

• The clean energy sources will persist in powering electricity in the coming years. The increasing demand will give Indian solar power firm shares a reason to soar in the next decade. Increasing demand in other parts of the world may send sustainable investments in India's best ten green energy stocks up. 

• Investment in renewable energy stocks in India helps in portfolio diversification, which reduces risk and enhances returns. This provides a more holistic approach to green energy investing. 

 

Conclusion

In the backdrop of the Nation moving towards clean energy targets, putting money into green energy companies in India presents a lot of growth opportunities. The pace at which this sector is expanding makes it an attractive one to venture. It is believed that due to the rising demand for clean energy resources, these kinds of stocks will grow in value in the coming years. For such investors making a foray into this sector is almost by alleviating risk and improving returns.

Disclaimer

This blog is NOT any buy or sell recommendation. We do NOT encourage/advise/suggest/recommend anyone to involved or invest in stock buying selling or trading activities. Trading or buying or selling securities is a market risk-based activity. The data presented in this blog are at the time of writing this content (as of 23 October 2024) and can change with time.

This information or hierarchy of selected stocks in this blog should NOT be taken as recommendation/investment advice/offers/solicitations for the buy or sale of any securities. Investors should do research, consult with their financial advisors, and consider their risk tolerance, financial ambitions, and investment goals before financial investments.