Green energy stocks represent companies focused on renewable energy sources, such as solar, wind, hydroelectric, and geothermal power. These investments are increasingly appealing to investors due to the global shift towards sustainable energy solutions and the growing demand for clean energy alternatives.
Listed below are such green energy stocks that received orders for solar projects:
Ahasolar Technologies Ltd
With a market capitalization of Rs. 136 crores, the shares of Ahasolar Technologies Ltd started Tuesday’s trading session on a higher note at Rs. 442.25, locking a 5 percent upper circuit compared to its previous close of Rs. 421.20 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a work order for a consultancy contract for feasibility and site survey of Solar Rooftop Systems on Government buildings in the state of Gujarat from Gujarat Energy Development Agency (GEDA). The whole Consultancy Service is priced at around Rs. 8 crores.
Coming onto the company’s financial statements, the revenue magnified by 126 percent from Rs. 12.89 crores during H1FY24 to Rs. 29.16 crores in H2FY24. In addition, the net profits showcased a transition from a net loss of Rs. 77 lakh to a net profit of Rs. 81 lakhs during the same timeframe.
As of 31st March 2024, the company’s total order book stands at Rs. 4,176 lakhs(Rs. 41.76 crores), comprising a mix of private and public sector customers as well as development corporations. Some of these orders are multi-year contracts.
Headquartered in Gujarat, Ahasolar Technologies was incorporated in 2017. It is a renewable energy technology company that specializes in solar energy solutions. The company operates in the space of climate change, renewable energy, and digital technology.
Gensol Engineering Limited
With a market capitalization of Rs. 3,726 crores, the shares of Gensol Engineering started Tuesday’s trading session on a higher note at Rs. 984.90 compared to its previous close of Rs. 938.25. Within a few minutes of the opening bell, the shares hit a 5 percent upper circuit at Rs. 985.15 apiece.
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Such a positive movement in the share price was observed after the company in an exchange filing announced that it had emerged as the winning bidder for 116 MW (150 MWp) of solar projects in Gujarat with approx. EPC revenue of Rs. 600 crores. These projects will be distributed across 27 diverse locations, all under the purview of Paschim Gujarat Vij Co. Ltd. (PGVCL), the state electricity distribution company.
These projects aim for feeder-level solarisation and are anticipated to be operational within 12 months following the issuance of the Letter of Award (LoA).
Looking at the company’s financial statements, the revenue zoomed by 82 percent from Rs. 220 crores during the December quarter to Rs. 399 crores March quarter. On the other hand, the net profits surged by 67 percent from Rs. 12 crores to Rs. 20 crores during the same timeframe.
Gensol Engineering Limited has a strong order book of Rs. 1,783 Crores, with 33,693 MW+ Historical foundation of technical advisory services, 770 MW+ Ground mounted, rooftop, and floating solar EPC projects and it has 6,000+ EVs on lease.
Gensol Engineering Limited is part of the Gensol Group of companies, it is a leading player in the renewable energy sector in offering engineering, procurement, and construction (EPC) services for the development of solar power plants. It operates across four segments namely Solar EPC, Solar Panel Tracking Tech, EV Leasing, and EV Manufacturing.
Written By Vaibhav Patil
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