India’s energy demand is projected to rise more rapidly than that of any other country in the coming decades, driven by its vast size and significant growth potential. As of 2023, India ranks 4th globally in wind and solar power capacity and 4th in total green energy installed capacity. The country’s installed power generation capacity has grown swiftly, with a compound annual growth rate (CAGR) of 15.4% from FY16 to FY23.
In FY23, India had 125.15 GW of renewable energy capacity and was the fastest-growing market for renewable electricity. New capacity additions are expected to double by 2026. In addition, the green energy sector is set to see investments of over $250 billion, with solar PV projects expecting $15.5 billion and battery manufacturing $2.7 billion in the future years. In this article, we will look at the best green energy stocks in September 2024 based on 5Y CAGR.
Company Name | Market Cap (In ₹ Crore) | Net Margin (%) | 5Y CAGR (%) |
Adani Green Energy Ltd | 2,89,822.50 | 10.23 | 111.34 |
Jaiprakash Power Ventures Ltd | 12,295.11 | 14.29 | 63.19 |
SJVN Ltd | 52,549.22 | 30.48 | 40.99 |
NHPC Ltd | 95,447.92 | 30.97 | 32.86 |
KPI Green Energy Ltd | 11,348.12 | 15.68 | – |
Note: The stocks mentioned above have been selected from the Renewable Energy Sector with a market capitalisation of over ₹8,000 Crore and sorted based on 5Y CAGR
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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