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Waaree Energies, Adani Green, Suzlon Energy: How renewable energy stocks performed this week?
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4 min read | Updated on January 03, 2025, 19:44 IST
SUMMARY
KPI Green Energy share price declined 32% this week. ACME Solar Holdings Ltd shares were up 3.16% this week to trade around ₹ 240.55. Here’s a look at how renewable energy stocks performed this week.
For the week ended January 3, most stocks in the green energy sector traded marginally up in the absence of major triggers.
Shares of different renewable energy companies were mostly in focus this week for stock-specific actions or corporate announcements and not much for new order inflows.
For the week ended Friday, January 3, most stocks in the green energy sector traded marginally up in the absence of major triggers, while KPI Green Energy and Adani Green declined.
Here’s a detailed look at the weekly performance of shares of major renewable energy companies:
KPI Green Energy share price
The stock turned ex-bonus on Friday adjusting for its 1:2 free share issue.
KPI Green Energy informed the stock exchanges that its subsidiary Sun Drops Energia Private Limited has received letters of intent (LoI) for the development of solar power projects. The LoI pertains to developing a cumulative capacity of 32.15 MW under the captive power producer (CPP) segment.
The projects are scheduled to be completed in the financial year 2025-26 in various tranches.
On December 30, the company also announced securing a 300 MWAC (450 MWDC) ground-mounted solar project order worth ₹1,311 crore from Coal India.
Adani Green Energy share price
Singh will be replaced by Ashish Khanna starting April 1, 2025. Khanna is the current CEO of the group’s international energy business.
Waaree Energies share price
ACME Solar Holdings share price
This funding will support the establishment of a 300 MW Solar-Wind Hybrid Renewable Energy Project, which will be implemented in regions with high renewable energy potential.
Suzlon Energy share price
Suzlon Energy informed the stock exchanges on December 31 that the Income Tax Appellate Tribunal (ITAT) has cancelled a penalty of ₹87.59 crore imposed by the National Faceless Penalty Centre (I-T department) for certain disallowances during FY2015-16. ITAT had nullified a tax penalty order worth ₹172.76 crore on December 30, too.
In a separate note, Suzlon said that ratings agency CRISIL upgraded its ratings for the second time in a year. CRISIL Ratings upgraded the company’s credit rating to ‘CRISIL A’ with a ‘Positive Outlook’.
NTPC Green Energy
The newly listed green energy arm of state-owned NTPC Limited has surpassed ₹1 lakh crore mark in market capitalisation, driven by the rise in share price. The stock has gained 18.61% from the IPO price of ₹108 apiece. Shares of NTPC Green Energy were listed on the NSE at ₹111.5 apiece, up 3.2% from the issue price.
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