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An outlook
The renewable energy sector is seeing a rise as people and governments are shifting towards sustainability. This is due to the rising concerns over depletion of resources all over the globe. In the recent times, as more companies are taking part in the renewable energy sector, the demand for top renewable stocks in India are expected to rise.
Investments in the Renewable sector
Global: In the previous year the global investment in transition to low-carbon energy exceeded $2 trillion for the first time. Most countries around the world are investing in building green infrastructure and cleaner power sources to achieve the climate targets under the Paris Agreement.
Domestic: India’s move towards renewable energy is accelerating due to substantial investments made by both public and private organizations. While Tata Power is looking at $5.6 billion in renewable energy investments in Andhra Pradesh, NTPC is investing more than ₹2 trillion in green projects throughout Madhya Pradesh.
A milestone for the sector
In the past year, renewable power provided a record of 32% of the global electricity. There has been an increase in the record but progress is still falling short of the 2030 renewable capacity target.
The growth of renewable power generation, including wind, hydro and solar, in the global electricity mix in 2024 beat the previous year’s 30% record.
Clean energy becomes more affordable
The cost of renewable energy sources such as solar, wind, and battery storage are expected to fall around 2% to 11% this year, even if import tax on green energy are an example of increasing government policies to restrict international trade on these sectors. Another reason for this is due to increased competition in the renewable sector.
Top stocks to watch
Websol Energy: The pioneers of Solar cell and module manufacturing is one of the growing renewable stocks with a current market price of around ₹1322.70 and an impressive 5-year return of 6964.79%.
Borosil Renewables: India’s largest solar glass manufacturing company is trading around ₹498.80 with a remarkable 5-year return of 1233.95%.
Tata Power Company: India’s largest power company that focuses on providing sustainable energy solutions are having a stable growth with market price of around ₹388 and a 5 year return of 979.89%.
Adani Green Energy: The company is growing exponentially on the sustainable sector with main focus on scale grid solar and wind farm projects. The shares of the company are trading at around ₹916.10 and a solid 5-year return of 413.8%.
Reliance Industries Limited: The company is now focusing more diversified conglomerate with investments in renewable sector. The current market price of the shares are trading at around ₹1398.1 and offering a 5-year return of 117.74%.
Source – Reuters, Mint
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