India needs to increase its non-fossil fuel power generation capacity to 600 GW by 2030 to meet growing electricity demand, according to a report by The Council on Energy, Environment, and Water.
Solar energy is expected to contribute 377 GW, wind 148 GW, hydro 62 GW, and nuclear 20 GW. Official estimates project a total power generation capacity of 777 GW by 2030, with 500 GW from clean sources and 277 GW from fossil fuels, to meet a peak demand of 335 GW. Mercom India estimates that India needs to add over 35 GW of solar capacity annually to meet these goals. India also aims for 500 GW of renewable energy capacity by 2030. With these power demands, there are some Indian companies that can benefit from this development.
Listed below are some of the Stocks that can benefit from 600 GW Non-fossil fuel energy goals as per the Council on Energy, Environment, and Water
Suzlon Energy
Suzlon Energy, founded in 1995 and headquartered in Pune, India, is a leading renewable energy solutions provider. It specializes in wind turbine manufacturing and services, holding a 33% market share in India’s wind energy sector with 20.8 GW installed globally.
With a market capitalization of Rs. 79,679.28 Crores, the shares of Suzlon Energy Limited closed at Rs. 58.38 per equity share, up 1.04 percent from its previous day’s close price of Rs. 57.78.
Tata Power Company
Tata Power Company, founded in 1915, is India’s largest integrated power company with a diversified capacity of 14,707 MW, including 40 percent clean energy. It operates across generation, transmission, and distribution, focusing on sustainable and innovative energy solutions.
With a market capitalization of Rs. 1,18,291.47 Crores, the shares of Tata Power Company closed at Rs. 370.20 per equity share, down 0.38 percent from its previous day’s close price of Rs. 371.06.
Adani Green Energy
Adani Green Energy Limited (AGEL), headquartered in Ahmedabad, is India’s largest renewable energy company, operating 9 GW of solar, wind, and hybrid projects. Aiming for 45 GW by 2030, AGEL leads sustainability efforts, offsetting 41+ million tonnes of CO2 annually.
With a market capitalization of Rs. 1,46,269.56 Crores, the shares of Adani Green Energy Limited closed at Rs. 923.40 per equity share, up 1.35 percent from its previous day’s close price of Rs. 911.10.
Inox Wind
Inox Wind Limited, established in 2009 and headquartered in Noida, India, is a leading wind energy solutions provider and part of the INOXGFL Group. It manufactures wind turbine generators and components, operates three plants, and offers turnkey services across India.
With a market capitalization of Rs. 22,353.55 Crores, the shares of Inox Wind Limited closed at Rs. 171.45 per equity share, up 1.66 percent from its previous day’s close price of Rs. 168.65.
NTPC Green Energy
NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC, focuses on renewable energy projects, including solar, wind, and green hydrogen. With 3 GW operational and 20+ GW in the pipeline, NGEL targets 60 GW renewable capacity by 2032.
With a market capitalization of Rs. 83,597.62 Crores, the shares of NTPC Green Energy Limited closed at Rs. 99.64 per equity share, down 0.43 percent from its previous day’s close price of Rs. 99.64.
ACME Solar Holdings
ACME Solar Holdings Limited, founded in 2015 and based in Gurugram, India, is a leading renewable energy independent power producer. It operates 2,453 MW of solar capacity, develops wind and hybrid projects, and pioneers green hydrogen and ammonia technologies.
With a market capitalization of Rs. 12,086.63 Crores, the shares of ACME Solar Holdings Limited closed at Rs. 199.75 per equity share, down 2.63 percent from its previous day’s close price of Rs. 205.15.
Written by Santhosh S
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