Introduction
India’s green energy sector is in the middle of a revolution. With ambitious government targets of 500 GW of non-fossil fuel capacity by 2030, companies in the solar, wind, and renewable energy sectors are seeing an explosion in order volumes and market growth.
If you’re looking to invest in sustainable businesses with strong fundamentals and high growth potential, here’s your list of the top 10 Indian green energy stocks to watch in 2025.
1. Adani Green Energy Ltd (NSE: ADANIGREEN)
- Sector: Solar & Wind Power Generation
- Market Cap: ₹3.5+ Lakh Crore
- Why Invest: Adani Green is India’s largest renewable energy company with over 8,000 MW of operational capacity and another 20,000+ MW in the pipeline. They have long-term PPAs (Power Purchase Agreements) that ensure stable revenue.
Pro Tip: Their mega solar and wind hybrid parks are future-focused projects that could dominate the market by 2030.
2. Tata Power Ltd (NSE: TATAPOWER)
- Sector: Integrated Energy – Solar EPC, EV Charging, Power Distribution
- Market Cap: ₹1.2+ Lakh Crore
- Why Invest: Tata Power has seen exponential growth in its solar EPC business, especially in rooftop and utility-scale projects. Their push into battery storage and green mobility makes them a diversified green energy play.
Bonus: High retail investor trust and a consistent performer in the ESG (Environmental, Social, Governance) space.
3. JSW Energy Ltd (NSE: JSWENERGY)
- Sector: Renewable Wind & Solar
- Market Cap: ₹1 Lakh+ Crore
- Why Invest: JSW Energy has shifted aggressively from thermal to green energy. With over 9 GW of renewable projects under development, their growth potential in FY25 is immense.
Highlight: Strong balance sheet and backed by the JSW Group’s industrial network.
4. ReNew Energy Global PLC (NASDAQ: RNW)
- Sector: Utility-Scale Solar & Wind (Global Operations Based in India)
- Listed In: NASDAQ (Indian Origin)
- Why Invest: One of India’s largest IPPs (Independent Power Producers), with 13.4 GW of commissioned capacity. ReNew is heavily backed by international investors like Goldman Sachs.
Global Advantage: Exposure to international green funds and scalable infrastructure.
5. Inox Wind Ltd (NSE: INOXWIND)
- Sector: Wind Turbine Manufacturing & Services
- Market Cap: ₹8,000+ Crore
- Why Invest: With India looking to expand its wind capacity, Inox Wind is seeing a revival in orders. Recent debt restructuring and fresh equity inflow add confidence.
Growth Angle: The wind sector is bouncing back with government auctions and grid integration.
6. Sterling and Wilson Renewable Energy Ltd (NSE: SWSOLAR)
- Sector: Solar EPC (Engineering, Procurement, and Construction)
- Market Cap: ₹5,000+ Crore
- Why Invest: A Shapoorji Pallonji Group company, they execute large-scale international solar projects. Their order book is expanding across the Middle East, Africa, and Australia.
Key Point: Global reach with Indian roots makes it a valuable diversification pick.
7. Borosil Renewables Ltd (NSE: BORORENEW)
- Sector: Solar Glass Manufacturing
- Market Cap: ₹5,500+ Crore
- Why Invest: Only manufacturer of solar glass in India. As solar panel demand grows, Borosil’s products become critical in the supply chain.
Edge: Monopoly-like position in a high-demand segment.
8. KPI Green Energy Ltd (NSE: KPIGREEN)
- Sector: Solar IPP & Captive Power
- Market Cap: ₹3,500+ Crore
- Why Invest: Focused on solar power generation for commercial and industrial users. Their “solarism” model is scalable and has low customer acquisition costs.
Hidden Gem: Mid-cap stock with consistently improving quarterly results.
9. Waaree Renewable Technologies Ltd (NSE: WAAREE)
- Sector: Solar EPC & Module Manufacturing
- Market Cap: ₹2,500+ Crore
- Why Invest: From India’s largest solar panel manufacturer Waaree Group, this company is scaling fast in rooftop and ground-mount solar projects.
Expansion Driver: Government’s PLI (Production Linked Incentive) scheme in solar manufacturing.
10. Gensol Engineering Ltd (NSE: GENSOL)
- Sector: Solar EPC & Electric Mobility
- Market Cap: ₹2,000+ Crore
- Why Invest: A fast-growing solar engineering company that’s also expanding into EV leasing and mobility. Strong revenue growth and a tech-first approach.
Start-up DNA: Agile, adaptive, and consistently outperforming earnings estimates.
✅ What to Look for in Green Energy Stocks
When choosing green energy stocks, focus on:
- Order Book Size: Larger orders mean future revenue visibility.
- Earnings Consistency: Look for improving quarterly results.
- Capacity Expansion Plans: More MW means more future income.
- Government Incentives: Companies benefiting from PLI or SECI tenders.
📈 Final Thoughts
Investing in green energy stocks in 2025 isn’t just about riding the ESG wave—it’s about long-term value creation. Solar and wind energy are no longer fringe sectors. They are becoming the backbone of India’s power infrastructure.
If you’re building a future-ready portfolio, these 10 stocks offer a mix of scalability, growth, and sustainability.
FAQs – Green Energy Stocks in India (2025)
1. Why should I invest in green energy stocks in 2025?
Green energy is one of the fastest-growing sectors in India, driven by government support, global climate commitments, and rising energy demand. With increasing investments in solar, wind, and clean tech infrastructure, these stocks offer long-term growth and stability.
2. Which are the best green energy stocks in India right now?
Top green energy stocks to consider in 2025 include:
- Adani Green Energy
- Tata Power
- JSW Energy
- ReNew Energy
- Borosil Renewables
Each of these companies has strong fundamentals, a large order pipeline, and aggressive expansion plans.
3. Are green energy stocks risky to invest in?
Like any equity investment, green energy stocks carry risks. However, with India’s clear renewable energy targets and regulatory support, the risk-to-reward ratio is favorable—especially for long-term investors.
4. How is the Indian government supporting renewable energy companies?
The Indian government supports green energy through:
- PLI (Production Linked Incentive) schemes for solar manufacturing
- SECI (Solar Energy Corporation of India) auctions
- Capital subsidies and viability gap funding
- Net metering and open access policies
These incentives help improve the profitability of renewable energy companies.
5. What is the future growth potential of solar and wind energy in India?
India plans to reach 500 GW of non-fossil fuel capacity by 2030. Currently, solar and wind together make up around 150 GW. That means there’s room for 3x growth over the next 5–6 years, making it a high-opportunity sector.
6. Which Indian companies are leaders in the solar energy sector?
- Adani Green Energy (large-scale solar farms)
- Tata Power Solar (EPC + rooftop)
- Waaree Renewable (solar panels)
- Sterling and Wilson Renewable (global EPC)
- Borosil Renewables (solar glass manufacturing)
These companies dominate different segments of the solar value chain.
7. Can I invest in ReNew Energy from India?
Yes. ReNew Energy Global is listed on NASDAQ under the ticker RNW, but Indian investors can invest through platforms that offer access to international equities or via mutual funds and ETFs with international holdings.
8. Are there any green energy penny stocks worth considering?
Yes. Mid-cap and small-cap companies like KPI Green Energy, Gensol Engineering, and Inox Wind are gaining investor attention due to strong earnings growth and rising demand.
Note: These stocks are more volatile and should be approached with caution.
9. How can I track the performance of green energy stocks?
You can track performance via:
- Stock screeners like Screener.in
- NSE/BSE websites for financial results
- Quarterly earnings reports
- SECI and MNRE for policy announcements
- Portfolio trackers like Zerodha Kite, Groww, or Moneycontrol
10. Is it a good idea to diversify within green energy stocks?
Yes. Diversification reduces risk. You can invest across:
- Solar power producers (Adani Green)
- Wind turbine makers (Inox Wind)
- EPC contractors (Sterling & Wilson)
- Solar panel/component makers (Waaree, Borosil)
- Green utility players (Tata Power, JSW Energy)
This helps balance sector-specific risks and capture broader upside.
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