Waaree Energies, Adani Green Energy, Inox Wind: Renewable energy stocks drop up to 5.5% this week

Renewable energy stocks had a mixed run in the week ended Friday, March 28, as investors shifted focus to company-specific developments amid a lack of a broader trend.

While the benchmark equity indices NIFTY and SENSEX jumped more than 1% this week, leading green energy stocks moved in the range of -5.48% to 1.88% cumulatively during the period.

Let’s take a detailed look at the performance of individual stocks and the key triggers behind them for the week ended March 28:

Waaree Energies

The board of Waaree Energies at its meeting held this week on March 25 approved the establishment of an additional 1.6 GW module manufacturing line at its unit situated at Brookshire, in the state of Texas in the US, and setting up of additional module manufacturing lines with a capacity of 3.2 GW at its plant in Chikhli, Navsari, in Gujarat.

KPI Green Energy

KPI Green Energy announced this week that its subsidiary Sun Drops Energia has been awarded Letters of Award (LoA) for the development of solar power projects with a cumulative capacity of 13.80 MW under its Captive Power Producer (CPP) business segment.

Adani Green Energy

Adani Green Energy on Thursday said that its renewable energy generation capacity has increased to 13,487.8 MW with commissioning of new capacities. The announcement came after the company operationalised an aggregate 396.7 MW power projects at Khavda in Gujarat through its wholly-owned step-down subsidiaries.

Inox Wind

Financial analysts have an optimistic outlook for Inox Wind Ltd as it has reported a significant increase in its income and profit for the past couple of quarters.

Premier Energies

Premier Energies is an integrated solar cell and solar module manufacturing company. Recently, a global financial analyst raised concerns that Premier Energies' margins could come under pressure in the short term because of falling prices of non-DCR (Domestic Content Requirement) modules. Non-DCR solar panels are solar cell and solar modules that are not designed and manufactured in India.

Suzlon Energy

Experts are optimistic about Suzlon Energy, a key player in India’s wind energy growth story. With the country targeting 100 GW of wind capacity by 2030, up from 48 GW in December 2024, analysts believe that Suzlon is well-positioned through its EPC (engineering, procurement and construction) and O&M (operations and maintenance) businesses.

NTPC Green Energy

NTPC Green Energy has secured approval from Rajasthan Renewable Energy Corp. Ltd to start commercial operations at the third and last part of the 320 MW Bhainsara Solar PV Project in Jaisalmer district. The last part of the plant was of 100 MW capacity.

Acme Solar Holdings

ACME Solar Holdings Ltd has outlined a plan of investing ₹32,000-35,000 crore in capital expenditure by 2027 to expand its renewable energy portfolio, the company’s chief executive officer Nikhil Dhingra told a media house. The company aims to increase its energy portfolio to 7 gigawatts (GW) by 2027 from the current 2.5 GW, he added.