Waaree Energies to NTPC Green: Here’s how renewable energy stocks performed this week

Renewable energy stocks took a slight breather in the week ended February 7 after witnessing a huge rally post-Budget 2025 that increased the allocation to the green energy sector for FY 2025-26 by 53.5%.

Most leading renewable energy stocks, like Adani Green Energy, NTPG Green and Waaree Energies, did not see any significant movement during the week. However, renewable energy stocks continued to remain in focus for multiple reasons.

Let’s take a look at how the green energy stocks performed this week:

Adani Green Energy Ltd

The company was in the news this week on reports that it was in talks with both state-owned and private Indian banks to tie up funding of $2-2.5 billion that will be spent over the next 6-8 months to ramp up capacity rapidly.

A media report said that the Adani Group firm plans to speed up the pace of capacity expansion in order to reach its stated target of 50 GW by 2030. To achieve this, it aims to add 7-8 GW annually over the next few years.

NTPC Green Energy Ltd

NTPC Green Energy has formed a 50:50 joint venture company with the New and Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP). The venture, named AP NGEL Harit Amrit Ltd. will focus on developing 25 GW solar/wind, 10 GW pumped storage, and 0.5 million tonnes per annum (MTPA) green hydrogen projects in Andhra Pradesh.

KPI Green Energy Ltd

The upswing in the stock price came after KPI Green Energy reported a 68.3% increase in its consolidated net profit to ₹85.15 crore for the December 2024 quarter compared to ₹50.6 crore in the year-ago period.

Revenue from operations also rose 38.8% to ₹458.35 crore in Q3FY25 compared to ₹330.11 crore a year ago.

KPI Green Energy also announced a third interim dividend of ₹0.20 per equity share. The record date for the payment of this dividend has been set as February 18, 2025.

Acme Solar Holdings Ltd

Investors are keeping an eye on this company as another three-month lock-in period in the stock is ending on February 10. This will free up as many as 22.5 million shares, or 4% of the outstanding equity of the company, for trading.

Premier Energies Ltd

The negative sentiment around the stock stemmed from reports of the company’s decision to put on hold its plans to establish a 1 GW solar cell manufacturing facility in the United States. The decision comes in response to the ongoing uncertainty surrounding federal policies on climate and energy investments in the country.

Premier Energies also announced its Q3 earnings this week. Revenue increased by 140.6% YoY to ₹1,713 crore, while net profit grew multi-fold to ₹255.2 crore during the December quarter.

JSW Energy Ltd

JSW Energy announced this week that the company’s wholly-owned subsidiary JSW Neo Energy has signed a renewable energy power purchase agreement with Amazon for 180 MW of wind power.

Waaree Energies

This week, the company’s wholly-owned subsidiary Waaree Clean Energy Solutions received a Notification of Award (NOA) from the Solar Energy Corporation of India (SECI) for setting up a 90,000 MTPA green hydrogen production facility in India. Reports also suggested that the solar module manufacturer is aiming to start production of TOPCon-based solar cells in April this year.