India’s green energy sector has made remarkable strides, achieving over 200 GW of renewable energy capacity as of October 2024. This accounts for 46.3% of the country’s total electricity generation capacity, showcasing its commitment to sustainable energy and reducing carbon emissions significantly by 2030.
Here are the green energy stocks with a robust order book of 5GW in Q2FY25:-
Inox Wind Ltd
Inox Wind Limited manufactures wind turbine generators and provides wind energy solutions to IPPs, utilities, PSUs, corporates, and retail investors. Inox Wind Ltd is a fully integrated player in the wind energy sector, offering complete turnkey solutions.
With a market capitalization of Rs 25,815.12 crore, the shares were trading at Rs 198.50 per share, decreasing around 0.73 percent as compared to the previous closing price.
As of Q2 FY25, Inox Wind Ltd has reported an impressive order book totaling 3.3 gigawatts (GW). This figure represents a 161% year-over-year increase and includes 1.2 GW of new orders secured during the first half of FY2515. The order book is diversified, comprising contracts from public sector undertakings (PSUs), independent power producers (IPPs), commercial and industrial (C&I) clients, and retail customers.
The company has four state-of-the-art manufacturing Plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured. With its state-of-the-art 3 MW series WTG offering, IWL’s manufacturing capacity stands at ~ 2.5 GW per annum.
Recently, IWL achieved debt-free status after the promoter of the company Inox Wind Energy Limited (IWEL) injected Rs 900 crore. The funds were raised by IWEL on May 28, 2024, through the sale of equity shares of IWL through block deals on the stock exchanges, witnessing the participation of several marquee investors. The funds will be utilized by IWL to completely pare down its external term debt to achieve a net debt-free status.
Waaree Renewables Technologies Ltd
Waaree Renewable Technologies Limited focuses on renewable energy. The company specializes in solar EPC and power generation using renewable energy sources. It is also a solar developer, which funds, builds, owns, and manages solar installations.
With a market capitalization of Rs 15,136.60 crore, the shares were trading at Rs 1,454.95 per share, decreasing around 1.57 percent as compared to the previous closing price.
As of September 2024, Waaree Renewable Technologies had an unexecuted order book totaling 1,702 MW and 488 MWp of successfully executed orders. Recently, the company won a contract 30.0 MWp ground-mounted solar power project.
Waaree Energies, the subsidiary of the company, is present in India, the Middle East, Africa, APAC, North & South America, and Europe and can provide access to international markets. Waaree Energies has a strong presence in India’s 25 states & 2 UTs which provide sourcing access to Waaree RTL
The company has 13.3GW of existing capacity, and WEL is planning a capacity addition of 21GW largest domestic manufacturer of solar PV Modules.
Suzlon Energy Ltd
Suzlon Energy Limited is an Indian renewable energy solutions supplier. The company manufactures wind turbine generators and related components in various capacities. It operates in 17 countries including Asia, Australia, Europe, Africa, and the Americas.
With a market capitalization of Rs 80,499.13 crore, the shares were trading at Rs 58.88 per share, decreasing around 0.86 percent as compared to the previous closing price.
The company secured the largest ever single order in the Indian wind industry from NTPC Green from 1.166 GW. This project utilizes a plug-and-play approach with the pipeline for land and power evacuation within NTPC scope. Suzlon order book now exceeds 5 GW. This also reverberates with 29 years of proven track record with a 32% market share on the installed base.
Recently, Suzlon Energy Ltd announced the acquisition of 22,80,000 equity shares representing a 76% stake in Renom Energy Services from the Sanjay Ghodawat Group in two or more tranches. Additionally, this strategic acquisition will give Suzlon a comprehensive presence and penetration into the non-Suzlon segments of the Indian Wind Energy Services industry.
