Adani Green Energy, NTPC Green, Waaree Energies: Here’s how renewable power stocks performed this week

Leading renewable energy companies settled on a mixed note this week amid operational updates, new order wins and weak financial results for the quarter ended December 2024.

Leading players in the sector like Adani Green Energy, NTPC Green and Waaree Energies emerged as gainers even as the broader markets remained range-bound due to sustained selling by foreign portfolio investors.

Here is a detailed overview of the weekly performance of leading renewable energy stocks.

Adani Green Energy

The company also announced its Q3 operations update during the week. Its operational capacity increased by 37% YoY to 11,609 MW with greenfield addition of 2,693 MW solar and 438 MW wind power projects. Its sale of energy increased 23% YoY at 20,108 million units in the nine-month period of FY25, backed by robust capacity addition.

NTPC Green

However, the stock staged a sharp rebound on Tuesday, rising by 10% to hit the upper circuit limit of ₹121 apiece. The stock hit a high of ₹123.98 apiece on the NSE on Wednesday.

Its arm, NTPC Renewable Energy Ltd, recently commissioned a 60 MW capacity out of the 320 MW Bhainsara solar project, and 50 MW of the 220 MW Shajapur Solar project.

Waaree Energies

Earlier this week, on Monday, Waaree Energies announced acquiring a 100% stake in Enel Green Power India Private Ltd (EGPIPL) for ₹792 crore. The acquisition is aimed at expanding the company’s footprint in the renewable energy market in India.

Premier Energies

Premier Energies shares cut early losses to close the week higher by 1.55% at ₹1,144.85 per piece on the NSE on Friday. The stock hit a low of ₹1,086.1 apiece on Monday, but pared losses after the company announced that its three subsidiaries have bagged multiple orders worth ₹1,460 crore for supplying solar PV cells and modules.

Suzlon Energy

Suzlon Energy Ltd shares rose by 2.56% this week to settle at ₹56.99 per share on the NSE. The stock had dropped to a low of ₹53.98 apiece on Monday followed by a sharp rebound the next day. The company on Wednesday clarified that it could not ascertain any event or information in the mainstream media that could have triggered a sharp rise.

ACME Solar Holdings

ACME Solar Holdings shares dropped over 4% to ₹221.38 apiece on the NSE this week.

Recently, the company announced the commissioning of an additional 90 MW of solar power capacity in Rajasthan. With this, the company’s total operational renewable energy capacity increased to 2,453 MW.

“ACME Solar Holdings Limited (ASHL), through its wholly owned subsidiaries, ACME Dhaulpur Powertech Private Limited and ACME Raisar Solar Energy Private Limited, have commissioned the remaining capacity of 62 MW and 28 MW, respectively, on January 7,” the company informed the stock exchanges on January 9.

KPI Green Energy

The company also announced bagging new orders with an aggregate size of 62.20 MW. The new order is for the development of solar power projects with a cumulative capacity of 62.20 MW under the ‘Captive Power Producer (CPP)’ business segment of the company.