Addressing at CII International Energy Conference & Exhibition 2024, Union New & Renewable Energy Minister Pralhad Joshi said that the government is transforming the entire energy sector as this transformation is driven by a strong belief that a Viksit Bharat by 2047, is closely linked to sustainable and green growth, and the roadmap for this transition is ambitious but achievable.
In the last three financial years alone, India has attracted $6.1 billion in FDI into the renewable energy sector, India being one of the world’s most promising nations in the clean energy space is firmly committed to achieving the goal of 500 GW of non-fossil fuel-based generation capacity by 2030.
He noted that the PLI scheme with an outlay of Rs. 24,000 crore has been introduced to boost domestic manufacturing of solar panels and modules and it is also in the process of setting up 50 solar parks with a cumulative capacity of 38 GW by 2025-26.
Followed by the government under the PM Surya Ghar Muft Bijli Yojana is empowering Indian households by enabling them to generate their own electricity through solar rooftops. The scheme targets 1 crore installations by 2026-27, with an outlay of Rs. 75,021 crores.
Listed below are some of the Indian companies catering to the needs of the solar sector that might benefit from the above schemes and the ongoing demand for renewable energy.
Waaree Energies
Waaree Energies Limited is the largest solar PV modules manufacturer in India. It has a wide product portfolio of solar energy products that consists of Multicrystalline modules Monocrystalline modules and TopCon modules include flexible bifacial modules as well as building-integrated photovoltaic (BIPV) modules.
With a market capitalization of Rs. xx Crores, the shares of Waaree Energies Limited closed at Rs. xx per equity share, up xx percent from its previous day’s close price of Rs. xx.
As of Q2FY24, Waaree Energies Limited is the largest manufacturer of solar PV modules with the largest aggregate installed capacity of 13.3 GW and a market share of 17 percent share in India in terms of annual installed capacity. It has four solar module manufacturing facilities in India, with an international presence.
Premier Energies
Premier Energies Limited is an integrated player in the solar ecosystem that manufactures and supplies integrated solar cells and solar panels. Its product portfolio includes Cell, Solar Module, Monofacial and Bifacial, modules, EPC Solutions, and O&M Solutions.
With a market capitalization of Rs. xx Crores, the shares of Premier Energies Limited closed at Rs. xx per equity share, up xx percent from its previous day’s close price of Rs. xx.
Premier Energies Limited is India’s 2nd largest Solar Cell Manufacturer with a market share of 25 percent and an Installed capacity of 2GW. It is also India’s 4th largest Solar Module manufacturer with a market share of 6 percent and an annual installed capacity of 4.13 GW
Tata Power Company
Tata Power Company Limited is India’s largest vertically integrated power company, primarily involved in the business of generation, transmission, and distribution of electricity, manufacturing solar roofs, developing EV charging stations, and many More.
With a market capitalization of Rs. xx Crores, the shares of Tata Power Company Limited closed at Rs. xx per equity share, up xx percent from its previous day’s close price of Rs. xx.
As of FY24 Tata Power Solar is India’s 3rd largest Solar Module manufacturer, with a market share of 7 percent and an annual installed capacity of 4.97 GW. It is also India’s 5th largest solar cell manufacturer with a 6 percent market share and an installed capacity of 0.53 GW.
Adani Enterprises
Adani Enterprises Limited is a holding company operating across various businesses like resource management, FMCG, Power, airports, data centers, and many more through its Joint Ventures/subsidiaries/associates.
With a market capitalization of Rs. xx Crores, the shares of Adani Enterprises Limited closed at Rs. xx per equity share, up xx percent from its previous day’s close price of Rs. xx.
Mundra Solar PV Limited subsidiary of Adani Enterprises Limited is India’s largest solar cell manufacturer with a market share of 50 percent and an annual installed capacity of 4 GW. It is also India’s 5th largest Solar Module manufacturer with a market share of 5 percent and an annual installed capacity of 4 GW.
Written by: Bharath K.S
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