Summary:
The solar energy sector is full of potential investment opportunities. Investors are betting on solar energy companies, anticipating substantial gains in the future. Let’s look at some of the most attractive stocks in India’s solar energy sector.
In the recent past, solar energy has gained tremendous momentum across the globe. India has emerged as a hotspot for some large-scale solar projects. With the growing emphasis on sustainability, climate change, and reducing carbon footprint, governments to corporate firms and even the public is shifting to greener fuels. In fact, the Indian government aims to build 57 solar parks by March 2024 under the “Development of Solar Parks and Ultra Mega Solar Power Projects” in 13 states. Not just that, the government in fact wants to make India a net exporter of solar power by 2026. Over the forthcoming years, solar energy companies are expected to see substantial growth. Hence, investors are also growing keen on the renewable energy sector, specifically solar.
If you’re also interested in this growing field, this blog will enlist India’s leading solar energy companies and take you through the best solar energy stocks to invest in.
Best solar energy stocks in India
In the Union Budget 2022-23, the government of India allocated an extravagant $2.57 billion as a part of a PLI scheme. With this, the government accelerated the manufacturing of high-efficiency solar modules, supporting solar energy companies. Let’s take a closer looks at some of the leading solar energy stocks in India.
| Name | Description |
| Tata Power Company | The company’s power generation infrastructure consists of thermal power plants, hydro and wind-power creating facilities in addition to a wide footprint of solar plants. Tata power serves a diverse range of users right from refineries, municipal corporations and railways to ports. |
| WAA Solar | The company focuses on solar power projects with continuous engineering, procurement, and construction (EPC) efforts. Some of their recognised works include the solar photovoltaic (PV) grid interactive power plant project in the Nayka village of Gujarat. A solar power plant with a 100 kilowatts peak capacity in Bhopal was another project successfully completed by WAA Solar. |
| Suzlon Energy | Suzlon offers renewable energy solutions including solar panels and also manufactures electricity. The company is also a major player in the space of wind-energy production with a comprehensive suite of products and solutions. |
| Websol Energy Systsem | Websol is a leading producer of solar cells and modules. The company caters to domestic and international commercial as well as industrial settings. |
| Urja Global | The company is a well-reputed developer and operated of renewable energy. They work on designing, integrating, supplying, installing, maintaining, consulting and commissioning off-grid and grid-connected solar power plants. They also carry out other activities in the field of solar product trade and decentralized solar application. Some of the many products offered by Urja include solar charge controllers, PV modules, solar inverters and solar lanterns. |
| Ujaas Energy | This Indian company specializes in solar energy solutions. The company develops, owns and maintains an extensive portfolio of solar energy power facilities under its UJAAS flagship. Some of their business segments include manufacturing and selling solar power plants and solar power generation and maintenance. Under their Ujaas Park offering, the company offers a comprehensive solution for investors who want to enter the space of solar power generation. |
| Adani Green Energy | Adani Green Energy has emerged as one of the most promising solar energy companies in India. They offer very attractive investment opportunities with some of the best stocks in the country. The company specialises in the development, operation and maintenance of utility-scale grid-connected solar and wind farm projects. |
| Surana Solar | The company manufactures solar PV modules, trades a variety of different solar goods and generates solar and wind energy. The solar products division of the company is established to produce and market solar modules. The company’s product suite consists of solar lanterns and solar lighting among others. Surana’s lighting solutions include home lighting systems and solar street lighting. |
| Intersolar | Intersolar is well-established solar energy company that harnesses solar energy to produces goods. The company has worked effortlessly to consolidate solar power via innovation in solar energy equipment and has emerged as a leading market player. |
| Gita Renewable Energy | The primary focus of the company is on production and distribution of electricity. Gita also provides operational assistance to solar power facilities and caters to their maintenance needs. The company’s specialty lies in generating power from renewable resources such as solar, wind and hydro. |
Take your pick: Helping you explore the solar energy sector
It is well understood that the solar energy sector is evolving rapidly. Backed by tremendous support from the government in the form of different investments and schemes, solar energy companies are offering promising investment opportunities. Not to mention, the constant technology innovation and development, these companies are evolving. For investors like you, the solar industry is offering new avenues.
You can also explore the top 10 renewable energy stocks in India here.