Waaree Energies shares gain 2%, Sterling and Wilson Renewable jumps 8%; here is why

Shares of renewable energy companies Waaree Energies and Sterling and Wilson Renewable Energy (SWREL) traded with notable gains in early trade on Tuesday, September 22, following order wins announced by the two companies.

Waaree Energies shares gained as much as 1.71% to ₹2,541.80 on the NSE, while SWREL shares rallied up to 7.72% to ₹186.66.

• Waaree Energies received an order from a leading domestic solar developer for the supply of 2 GW of solar modules. The one-time order will be executed across FY27 and FY28.

The company did not disclose the order value or the identity of the customer, but said the order is not a related-party transaction and the promoter group has no interest in the awarding entity.

• Meanwhile, SWREL announced it has secured one order in Rajasthan totaling 534.3 MWp from a leading IPP in India.

The company has also secured an order for two BESS projects totaling 616 MWh energy storage capacity in South Africa from a leading Middle East-based renewable energy projects developer.

The total value of both orders, including taxes, amounts to more than ₹985 crore.

The Rajasthan order is from a new customer, which reaffirms the industry’s unwavering trust in SWREL’s unmatched project execution capabilities. The South African order is from a repeat customer which has experienced SWREL’s expertise and dedication, thereby giving them the confidence to award this marquee project’s execution to the company.

The Rajasthan project involves a Balance of System (BOS) package, and the South Africa order is for a BESS turnkey EPC wrap project.

Other details

SWREL said the South African order is the second-largest utility-scale BESS project to be undertaken by SWREL.

The Rajasthan project’s capacity is estimated to reduce CO₂ emissions by approximately 0.80 million upon commissioning, thereby contributing to a more sustainable future.

How other green energy stocks were performing

At 09:42 AM, Vikram Solar shares were up 0.46% at ₹164.50 apiece on the NSE, while Adani Green Energy was up 0.39% at ₹1,308.70. Adani Energy Solutions was up 0.24% at ₹1,401. NTPC Green Energy shares traded 1.14% higher at ₹92.30 apiece on the NSE.

Premier Energies, on the other hand, was down 1.26% at ₹908.30 on the NSE.

The global shift towards renewables

A recent report by Colliers said that energy generation from renewable sources has expanded significantly over the past decade, driven by rapid advancements in clean-energy technologies, supportive policy frameworks, declining costs of solar and wind power, and increasing global commitments to reduce greenhouse gas emissions.

Between 2000 and 2015, major economies experienced a consistent rise in carbon emissions driven by increased power requirements to support growth.

Simultaneously, the heavy dependence on conventional energy sources such as coal, crude oil, natural gas, and petroleum products resulted in a significant increase in global carbon emissions.

Continuing on the trajectory, global emissions grew at an average rate of 1% annually, rising from over 35 billion tonnes in 2015 to 38.6 billion tonnes in 2024. China recorded the highest CO2 emissions at 12.3 billion tonnes, followed by the United States at 4.9 billion tonnes and India as the third-largest emitter, in 2024.

Renewable energy holds investment potential of $110-120 billion in next 4-5 years

According to a report by Colliers India published in May 2026, solar project costs in India typically range between ₹3–₹4 crore per MW, while wind (onshore) projects require about ₹8-₹9 crore per MW in investments, depending on the technology deployed.

With rapid advancements in domestic manufacturing capabilities, we expect India to comfortably achieve the 2030 target of 500 GW of renewable energy capacity.

"In fact, by 2030, solar projects alone could potentially have an installed capacity of 400-450 GW. Overall, around $110-120 billion of investments can flow into the renewable energy sector in the next few years," the report said.