The world is moving towards using cleaner, more environmentally friendly sources of energy like solar, wind, and hydro power. Green energy stocks are shares of companies that make or use these types of renewable energy, aiming to reduce pollution and help fight climate change.
As more countries and businesses focus on cutting carbon emissions, these companies are becoming more important for a cleaner future. Investing in green energy stocks not only supports the environment but can also offer good opportunities for growth as the demand for clean energy continues to rise.
For investors, green energy stocks with low or zero debt are particularly attractive. Low-debt companies tend to be more financially stable, less vulnerable to interest rate fluctuations, and better positioned to weather market volatility. This financial strength allows them to invest in innovation and expansion without the burden of heavy interest payments, making them appealing for those seeking both sustainability and long-term growth in their investment portfolios.
Here is the List of stocks to look out for:
Suzlon Energy Limited
Suzlon is one of India’s leading renewable energy solutions providers, primarily focused on wind energy. Headquartered in Pune, it designs, develops, and manufactures wind turbine generators and offers end-to-end solutions from installation to maintenance.
With a market capitalization of Rs. 88,662 crores, the company reported a debt-to-equity ratio of 0.05 as of March 2025. Its total debt stood at Rs. 323 crores in March 2025, a significant reduction from Rs. 13,210 crores in March 2020. This sharp decrease in debt highlights the company’s strong financial position and low reliance on borrowed funds.
Inox Green Energy Services Limited
Inox Green Energy Services is a subsidiary of Inox Wind Limited, offering operation and maintenance services for wind power projects. The company supports long-term infrastructure upkeep and has a strong presence in various Indian states with wind installations.
With a market capitalization of Rs. 6,005 crores, the company reported a debt-to-equity ratio of 0.09 as of March 2025. Its total debt stood at Rs. 181 crores in March 2025, a significant reduction from Rs. 1,085 crores in March 2020. This sharp decrease in debt highlights the company’s strong financial position and low reliance on borrowed funds.
Waaree Energies Limited
Waaree is one of India’s largest solar PV module manufacturers and a key player in solar EPC services. Based in Mumbai, it provides solar panels, project development, and rooftop solutions, and also exports to numerous countries.
With a market capitalization of Rs. 81,100 crores, the company reported a debt-to-equity ratio of 0.13 as of March 2025. Its total debt increased to Rs. 1,199 crores in March 2025 from Rs. 157 crores in March 2020. However, the company’s reserves also rose significantly, from Rs. 101 crores in March 2020 to Rs. 9,192 crores in March 2025. This strong growth in reserves has helped the company comfortably manage its increased debt, maintaining its overall financial stability.
Inox Wind Limited
Inox Wind is a major wind energy solutions provider in India, involved in the manufacturing of wind turbine generators and offering turnkey solutions. Its operations span across wind farm development, erection, and commissioning.
With a market capitalization of Rs. 22,503 crores, the company reported a debt-to-equity ratio of 0.30 as of March 2025. Its total debt increased to Rs. 1,500 crores in March 2025 from Rs. 1,121 crores in March 2020. However, the company’s reserves also rose significantly, from Rs. 1,464 crores in March 2020 to Rs. 3,423 crores in March 2025. This strong growth in reserves has helped the company comfortably manage its increased debt, maintaining its overall financial stability.
Orient Green Power Company Ltd
Orient Green Power focuses on renewable power generation, primarily from biomass, wind, and small hydro sources. Based in Chennai, the company aims to promote cleaner energy and reduce dependence on fossil fuels.
With a market capitalization of Rs. 1,705 crores, the company reported a debt-to-equity ratio of 0.51 as of March 2025. Its total debt stood at Rs. 552 crores in March 2025, a significant reduction from Rs. 1,353 crores in March 2020. This sharp decrease in debt highlights the company’s strong financial position and low reliance on borrowed funds.
KPI Green Energy Limited
KPI Green specializes in solar power generation and develops solar power plants for captive use and independent power production. It operates under the brand “Solarism” and has been expanding its portfolio of solar projects across India.
With a market capitalization of Rs. 9,847 crores, the company reported a debt-to-equity ratio of 0.57 as of March 2025. Its total debt increased to Rs. 1,475 crores in March 2025 from Rs. 139 crores in March 2020. However, the company’s reserves also rose significantly, from Rs. 80 crores in March 2020 to Rs. 2,511 crores in March 2025. This strong growth in reserves has helped the company comfortably manage its increased debt, maintaining its overall financial stability.
Written by Sridhar J
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