Waaree Energies, Suzlon Energy, Premier Energies, Adani Green: Here's how renewable energy stocks are performing on August 17

Renewable energy stocks were trading mixed on Monday, August 17. Shares of Waaree Energies, Adani Green and NTPC Green were down.

In contrast, Premier Energies and Suzlon Energy were trading in the green.

The stock of Waaree Energies was trading 0.21% lower at ₹2,676.50 apiece on the National Stock Exchange (NSE) at 11:01 am.

On August 13, the company's wholly owned subsidiary Waaree Power Pvt Ltd, along with its subsidiary Waaree Semicon Pvt Ltd, entered into a joint venture (JV) agreement with SmartenGrand Ltd to manufacture and supply semiconductor products.

"The Parties propose to enter into the joint venture for the purpose of manufacturing and supplying semiconductor products, including power application diodes and related products, and setting up a semiconductor fabrication unit in Gujarat, India," the company said in an exchange filing.

In the JV, Waaree Power will hold an 86.83% stake, while SmartenGrand will hold a 13.17% stake.

Shares of Adani Green and NTPC Green were down 1.5% and 0.18%, respectively.

Premier Energies shares were trading with the gains of 0.13% to ₹1,018.6. Similarly, Suzlon Energy shares were up 0.82% to ₹47.49.

Addressing the nation from the Red Fort on the 80th Independence Day, Prime Minister Narendra Modi on August 15 said that India has hiked up its solar energy capacity from 2 GW to 160 GW in 12 years and set an ambitious target of having 500 GW of renewable power by 2030.

"It is difficult to build a new world. That is why, whether it is a chip, AI, or data centre, we need electricity in large quantities. The new era demands energy," he said,

He said that the government has taken strong measures towards achieving energy security by putting a lot of work towards alternate energy.

"Earlier, the country's solar energy capacity was only two GW, and today it is 160 GW," the prime minister said.