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Hidden Wealth: 10 Indian Renewable Energy Stocks You Shouldn’t Ignore

Jan 25

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The world is evolving rapidly, and the energy sector is no exception. As the globe grapples with the challenges of climate change and global warming, the energy industry is undergoing a transformative shift toward renewable energy sources. This transition is not only reshaping how we generate and consume energy but also opening a wealth of opportunities for innovation and investment.


Traditional energy giants are diversifying their portfolios by embracing renewables like solar, wind, green hydrogen, and geothermal energy. At the same time, governments, financial institutions, and private investors are channeling significant resources into green energy projects, recognizing their potential to drive sustainable economic growth.


In India, where energy is the backbone of development, the government has set an ambitious target of achieving 500 GW of renewable energy capacity by 2030, supported by various incentives and policies to accelerate the transition.


While major renewable energy players often dominate the spotlight, a host of lesser-known public companies are quietly making waves in the sector. These companies are driving innovation, expanding capacity, and playing a crucial role in shaping India’s renewable energy landscape. In this article, we’ll explore 10 Indian renewable energy public companies you probably haven’t heard of—but definitely should.


Here are 10 Indian renewable energy public companies you probably haven’t heard of, but they are playing a pivotal role in shaping the future of energy:


1. Sterling and Wilson Renewable Energy Ltd.

Sterling and Wilson Renewable Energy Ltd. Logo

It is one of the leading end-to-end solar EPC (Engineering, Procurement, and Construction) service providers in the world, Sterling and Wilson has been instrumental in setting up large-scale solar energy projects both domestically and internationally. The company is also engaged in the operations and maintenance (O&M) of solar power projects and is backed by Reliance Industries.


Recently, the company has expanded its renewable energy offerings by including EPC solutions for Hybrid energy and Energy storage, making it a potential company with a great growth prospect in the future and the renewable energy market matures further.


Its current stock price is around INR 485


2. KPI Green Energy Ltd.

KPI Green Energy Ltd. logo

A Gujarat based company founded in 2008, KPI Green Energy Ltd., a part of the KP Group, specializes in developing, constructing, owning, managing, and maintaining renewable energy facilities. The company focuses on solar and wind-solar hybrid power projects, operating as an Independent Power Producer (IPP) and offering services to Captive Power Producers (CPPs) under its renowned 'Solarism' brand.


Its current stock price stands at INR 814.10


3. INSOLATION Energy Limited

INSOLATION Energy Limited logo

Insolation Energy Ltd (INA) is a leading national solar energy provider and a key player in the Solar EPC domain. As a BSE SME-listed company, it has pioneered the innovation, development, engineering, and deployment of over 500 MW of Solar PV Modules, contributing significantly to India's renewable energy growth.


This Jaipur-based company manufactures high-efficiency solar PV modules and provides innovative solutions for solar power generation, carving a niche in the industry.


Its current stock price stands at INR 4,005

 

4. Borosil Renewables Limited

Borosil Renewables Limited logo

Borosil Renewables Ltd., a global leader in solar glass manufacturing, is a part of the Borosil Group, which boasts over six decades of expertise in producing consumer ware, scientific, and laboratory glassware. The company’s cutting-edge manufacturing facility, located in Bharuch, Gujarat, spans over 100 acres and boasts a solar glass production and processing capacity of 1,000 tons per day (TPD), equivalent to approximately 6.5 GW annually.


Recently, Borosil Renewables strengthened its global presence by acquiring Europe’s largest solar glass manufacturer, the Interfloat Group. This acquisition includes Glasmanufaktur Brandenburg (GMB) in Tschernitz, Germany, with a production capacity of 350 TPD, and Interfloat Corporation in Liechtenstein. With this strategic expansion, Borosil Renewables has increased its total solar glass capacity to 1,350 TPD, cementing its position as a key player in the renewable energy supply chain.


As the first and only solar glass manufacturer in India, Borosil Renewables plays a critical role in the solar value chain, providing durable and efficient glass solutions for photovoltaic applications.


Its current stock price stands at INR 586

 

5. Websol Energy System Limited

Websol Energy System Limited logo

Founded in 1994, Websol Energy System Limited is a pioneering solar energy company headquartered in Kolkata, West Bengal. Initially established as an export-oriented unit in collaboration with WEBEL and Helios Technology from Italy.


Websol’s state-of-the-art facility, located on a seven-acre site in Falta SEZ, features fully automated Mono PERC solar cell and module production lines with annual capacities of 600 MW and 550 MW, respectively. The company specializes in advanced M10 and G12 Bi-facial Mono PERC solar cells, achieving conversion efficiencies exceeding 23%.


Its product portfolio includes high-performance Bifacial PERC 525-550Wp and Bifacial Mono PERC 640-660Wp solar modules, designed to optimize energy output across diverse applications.


Its current stock price is INR 1,557


6. Ujaas Energy Limited

Ujaas Energy Limited

Ujaas Energy Limited, listed on both BSE and NSE, is an ISO 9001:2008 certified company and a pioneer in India’s solar energy sector. In March 2012, it became the first company in the country to generate and sell Solar Renewable Energy Certificates (RECs) from its 2 MW solar power plant in Rajgarh, Madhya Pradesh. 


With a legacy dating back to 1979 under the name “M and B Switchgears,” Ujaas initially focused on manufacturing transformers and panel meters for energy control. Over the years, the company has transitioned to making significant contributions to green energy, introducing innovative products and solutions for clean energy generation. 


Ujaas Energy has established solar parks with capacities exceeding 100 MW, catering to plant sizes ranging from 500 KW to several MWs. The company also provides comprehensive operation and maintenance (O&M) services, ensuring efficient system performance for up to 20 years. These services include REC issuance, power sale billing adjustments, and realization of proceeds, making Ujaas a trusted partner for sustainable energy solutions.


Its current stock price is at INR 639


7. BF Utilities Ltd.

BF Utilities Ltd.

Part of the Kalyani Group, BF Utilities Ltd. is a key player in the wind energy space, with a focus on harnessing wind power to support sustainable energy goals. The company operates an 18.33 MW wind farm established between 1998 and 2001. Spanning 300 acres in Thosegar, Satara district, Maharashtra, the wind farm features 51 wind energy generators (WEGs) of 230 kW and 11 WEGs of 600 kW.


The generated power is utilized by Bharat Forge Ltd. at its Pune plant, with 14.65 MW of capacity registered as a Clean Development Mechanism (CDM) project, earning Certified Emission Reduction (CER) benefits. The wind farm achieves a remarkable plant load factor (PLF) of 25%, one of the highest in Maharashtra.


Recognized for its excellence, BF Utilities has received the Indian Wind Power Association (IWPA) Winner’s Trophy (2005-06) for Best Performing Wind Farm (above 2 MW category) and a State-Level Award for Excellence in Renewable Energy from Maharashtra Energy Development Agency (MEDA) for its achievements in grid-connected renewable energy projects in 2003.


Its current stock price is INR 901


8. Orient Green Power Company Ltd.

Orient Green Power Company Ltd.

Orient Green Power Company Limited (OGPL) is a prominent player in India’s renewable energy sector, specializing in wind power generation. The company boasts an impressive portfolio of 402.3 MW of wind assets spread across Tamil Nadu, Andhra Pradesh, Gujarat, and Karnataka, as well as a 10.5 MW wind farm in Croatia, Europe.


OGPL operates through its subsidiaries, including Beta Wind Farm Private Limited, Gamma Green Power Private Limited, and Orient Green Power Europe BV, among others. With a diverse and geographically distributed portfolio, OGPL continues to contribute significantly to clean energy generation in India and beyond.


Its current stock price is INR 18.25


9. Zodiac Energy Ltd.

Zodiac Energy Ltd.

Zodiac Energy Limited is a trusted energy solutions provider with over three decades of expertise in the power generation sector. The company offers end-to-end services, including design, supply, installation, testing, commissioning (EPC), and operation and maintenance (O&M) of power plants, delivering turnkey solutions from concept to commissioning.


With a solar portfolio exceeding 300 MW, Zodiac Energy has served over 15,000 customers. Its notable clientele includes leading organizations such as Sun-Edison India Limited, Adani Group, Torrent Power Limited, Gujarat Energy Development Agency, Reserve Bank of India, and Indian Oil Corporation Limited. The company's commitment to excellence has positioned it as a key player in India's renewable energy landscape.


Its current stock price is INR 570


10. Olectra Greentech Limited

Olectra Greentech Limited Electric Buses

Olectra Greentech Limited (Olectra) is India's largest pure electric bus manufacturer, with state-of-the-art facilities in Hyderabad. As the nation's first-ever electric bus producer, Olectra has successfully deployed all variants of electric buses across India, making it a leader in sustainable public transportation.


While not exclusively a renewable energy company, Olectra plays a pivotal role in India's e-mobility sector. Beyond electric buses, the company is diversifying into electric trucks and tippers, expanding its presence in commercial electric vehicle markets.


Olectra Greentech is a publicly traded company listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Certified under ISO 9001:2008, its R&D center is recognized by the Department of Scientific and Industrial Research, Government of India, underscoring its commitment to innovation and sustainability.


Its current stock price is INR 1,587


Conclusion

India's renewable energy sector is thriving, fuelled by the growing demand for sustainable energy solutions and ambitious government initiatives. While prominent names in the industry often dominate headlines, companies like those featured in this article are quietly shaping the future of clean energy. Their innovative technologies, diverse portfolios, and commitment to sustainability are making a significant impact on India’s journey toward achieving its renewable energy goals.


These companies represent the untapped potential of the Indian renewable energy landscape—proving that opportunities for growth and transformation are not limited to major players alone. As the nation progresses toward a greener future, keeping an eye on these rising stars could be as crucial as tracking the established giants. Whether you're an investor, an industry professional, or simply a renewable energy enthusiast, these companies are worth watching as they help India illuminate its path to a sustainable tomorrow.