The renewable energy sector has grown significantly in recent years as more focus is placed on sustainable energy. However, like other industries, it is still affected by market fluctuations. In recent downturns, some renewable energy companies have faced challenges like canceled orders, delays in projects, and fewer new contracts.
These issues are mainly due to factors like rising interest rates, supply chain problems, changing regulations, and global economic pressures. As a result, some companies that were expected to grow quickly have struggled, leading to the cancellation of big projects.
Here is the List of stocks that faced recent order cancellations
Suzlon Energy Limited
Suzlon Energy Limited is an Indian multinational company that specializes in the design, development, and installation of wind turbines and provides integrated wind energy solutions. It is one of the largest renewable energy companies in India and has a significant presence in the global wind energy market.
What Happened
Suzlon Energy has faced issues due to some of its orders being canceled on the 1st of April 2025. The company announced that a 99 MW order from Vibrant Energy was canceled, and a 201.6 MW order from O2 Power was reduced. Additionally, a customer chose not to go ahead with a 100.8 MW order for its 3 MW turbines.
These cancellations have raised concerns about Suzlon’s future orders and its ability to win new contracts, especially with the current market challenges. This setback affects the company’s growth potential in the renewable energy industry.
Financials
Suzlon Energy’s revenue rose by 91 percent from Rs. 1,569.71 crore to Rs. 3,002.36 crore in Q3FY24-25. Meanwhile, Net profit rose by 90.5 percent from Rs. 203.04 crore to Rs. 386.92 crore during the same period.
KPI Green Energy Limited
KPI Green Energy Limited is an Indian renewable energy company specializing in solar power generation and hybrid energy solutions. The company develops, owns, and operates solar and hybrid energy projects, primarily serving the Captive Power Producer (CPP) segment. KPI Green focuses on sustainable energy solutions and aims to contribute to India’s renewable energy growth.
What Happened
KPI Green Energy has cancelled a 66.2 MW hybrid energy project order from Sai Bandhan Infinium. The order, given in 2024, was cancelled six months later because of changes in the technical requirements. The project was originally planned as part of the Captive Power Producer (CPP) segment.
This cancellation happened after reviewing updated technical specifications. However, the company has stated that this decision will not significantly affect its finances. This move is part of larger changes in India’s renewable energy sector, where projects are being adjusted due to new technology and changing regulations.
Financials
KPI Green Energy’s revenue rose by 40.6 percent from Rs. 331.33 crore to Rs. 466.1 crore in Q3FY24-25. Meanwhile, Net profit rose by 50.61 percent from Rs. 203.04 crore to Rs. 84.5 crore during the same period.
Reliance Power Limited
Reliance Power Limited is an Indian power generation company, part of the Reliance Group, that focuses on the development, operation, and maintenance of power projects. The company operates across various energy sectors, including thermal, renewable, and hydroelectric power.
What Happened
In November 2024, the Solar Energy Corporation of India Limited (SECI) imposed a three-year debarment on Reliance Power Limited and its subsidiary, Reliance NU BESS Limited, from participating in SECI’s tenders.
This action was taken after SECI alleged that Reliance NU BESS submitted a counterfeit foreign bank guarantee during a bid for a 1,000 MW/2,000 MWh standalone battery energy storage system project, and SECI deemed this act as deliberate fraud intended to manipulate the tendering process.
Financials
Reliance Power Limited’s revenue rose by 7.89 percent, from Rs. 2,001.54 crore to Rs. 2,159.44 crore in Q3FY24-25. Meanwhile, the net profit improved from a loss of Rs. 1,136.75 crore to a profit of Rs. 41.95 crore during the same period.
Written by Sridhar J
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