Best Wind Energy Stocks in India

In India, the segment of renewable energy is one of the fastest-emerging sectors impelled by ambitious government targets and rising awareness about climate change. This presents a great opportunity to potentially increase your wealth while contributing toward a cleaner and sustainable future.

Green energy stocks are the shares of companies involved in the production or supporting renewable energy sources, including businesses associated with solar, wind, hydroelectric, geothermal, and biomass. You will be investing in these stocks in companies that are trying to cut down on fossil fuel dependence and, at the same time, combat climate change. 

Therefore, investing in wind energy stocks in India is a prudent and eco-friendly investment decision. An advantage of investing in wind energy stock is the possibility of increased wealth while you help in contributing to a sustainable future. These companies take center stage in developing cleaner and more efficient sources of energy whose environmental destruction is minimal.

 

 

Wind Energy Revolution in India

The total renewable energy capacity of the country stands at 121 GW by the end of 2022. Wind energy contributes 35% to it, thus making India the fourth largest wind market globally. India needs to pace up in deploying more wind power projects to meet its target of 140 GW of wind capacity in 2030 and march toward net zero by 2070. In this case, the key drivers will be its cost competitiveness, compliance by states in RPOs, and dedicated grid infrastructure for wind.
Although onshore wind has been vital, there is growing interest in offshore wind for long-term targets. India is forecasted to install 21.2 GW of wind capacity through 2027, which could reach 26.2 GW in an ambitious scenario or 17 GW in a conservative scenario.

 

 

Why Invest in Wind Energy Stocks?

Wind energy is among the high-return investment segments of India. The market is expected to grow exponentially as the country pursues its green energy goals, meaning potentially very high long-term returns for investors. 

Besides, one does not just invest in wind energy stocks for the financial gain but to leave a positive mark on the environment. By investing in companies that are finding cleaner renewable energy solutions, you literally contribute to the struggle against climate change on a big scale.

 

 

Top wind energy stocks to invest in India in 2024

Here is the list of the top stocks to invest in India in 2024:

Company Name	Last Price	52 wk High	52 wk Low	Market Cap (Rs. cr)
Adani Green Energy Limited	1902	815	2174	301441
Suzlon Energy Limited	75	84	21	103385
Inox Wind Limited	220	237	47	28721
Orient Green Power Company Limited	20	34	12	2363
Karma Energy Limited	82	105	40	95

 

1) Adani Green Energy Limited

Adani Green Energy Ltd. is a promoter company of the Adani Group, one of the leading solar generation companies in the Indian renewable power sector. Incorporated in 2015, thereafter, it rapidly gained momentum into the areas of operation: wind and solar power generation. 

At present, Adani Green stands at 10.9 GW of renewable capacity and now represents one of the largest renewable power producers in the country. This sets a target of taking it up to 50 GW by 2030, which constitutes significant feeding into the renewable energy targets for India.

Besides generation, Adani Green undertakes the sale of solar and wind power equipment, consultancy pertaining to project management, and other allied activities. Large expertise and experience in providing sustainable energy solutions-the company has assumed its position as one of the leaders in the global renewable energy sector.

 

 

2) Suzlon Energy Limited

Suzlon Energy is among the leaders in the sector of renewable wind energy, apart from being one of the players in the global market concerning wind turbine technology. From designing and manufacturing key components to providing comprehensive project management and maintenance services, Suzlon does provide a comprehensive solution for wind energy projects. 

Leveraging its global leading position with over 20 GW installed wind energy capacity across 17 countries, Suzlon has become a trusted partner of utilities and energy producers the world over. Expertise in wind resource assessment, infrastructure development, and project execution thus gets translated into efficient and effective wind power project implementation.

 

 

3) Inox Wind Limited

Inox Wind, a subsidiary of Inox Group, is a benchmark player in the wind energy market of India. It manufactures the components of the wind turbine and offers a broad spectrum of services for turnkey solutions and post-commissioning support. Its customers include independent power producers, utilities, public sector undertakings, corporates, and retail investors.

With an emphasis on innovation and quality, Inox Wind has built a range of products comprising the Inox DF 93, Inox DF 100, and Inox DF 113 wind turbine generators. 

The company has been a system integrator catering to end-to-end solutions in wind energy, thereby being a favourite investor in wind energy. With Inox Wind continuing to grow and expand its product suites, their close-to-imminent launch of the 4.X MW WTG platform is bound to only help nail its leading position in the renewable energy front.

 

 

4) Orient Green Power Company Limited

Orient Green Power is among the leading independent producers in the Indian Renewable energy space. The firm, with the main operation within wind power generation, has a diversified wind energy portfolio in India and even Croatia. Its operational capacity has been growing at a reasonable rate for the last few years.

At Orient Green, the revenue mix saw a dramatic change in FY23. The sale of power remained the largest constituent of revenue, though the decision to opt out from the REC scheme ensured a decline in REC income. This was reflected in increasing domestic revenues marginally to 86% of the total mix.

Despite these changes, Orient Green still continues to be a leading company in the Indian renewable energy market and has placed strong emphasis on sustainable and efficient wind power generation.

 

 

5) Karma Energy Limited

Founded in 2007, Karma Energy has been the harbinger of India's renewable energy revolution. Focusing on wind, hydro, and solar power, it produces clean energy internally, which is then transmitted through the national grid. In addition, the revenue streams at Karma Energy come via diversified means: direct sales to state governments and the sale of renewable energy certificates.

All these depend upon supportive government policy, efficiency in regulatory bodies, and proper implementation of renewable energy initiatives. Considering that India will further focus on green energy in the near future, Karma Energy is in an excellent position to take an active part in the development of the country's renewable energy sector.