Best Green Energy Shares in November 2024 Based on 5Y CAGR

Due to its sheer size and enormous potential for growth and development, India’s energy demand is likely to increase more than that of any other country in the coming decades as per IBEF. With the increased support of the Government and improved economics, the green energy sector has become one of the top choices for investors.  As India looks to meet its energy demand on its own, which is likely to reach 15,820 TWh by 2040, renewable or green energy is set to play an important role. 

In this article, we will look at the best green energy stocks in November 2024 based on 5Y CAGR.

Best Green Energy Stocks in November 2024 – Based on 5Y CAGR

Note: The stocks mentioned above have been selected from the Renewable Energy Sector from the Nifty 500 universe and sorted  based on 5Y CAGR as of November 06, 2024 

Overview of Best Green Energy Stocks

• Adani Green Energy Limited: Adani Green Energy Limited is engaged in the business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities. During Q2 FY25, the company’s operational capacity grew by 34% YoY to 11.2 GW and energy sales rose 20% YoY to 14,128 million units.

Key Metrics:

• Return on Equity (ROE): 17.1%
• Return on Capital Employed (ROCE): 9.81%
• Jaiprakash Power Venture Limited: Jaiprakash Power Venture Limited is involved in coal mining, sand mining, cement grinding, and the production of thermal and hydroelectric electricity. The company’s revenue amounted to ₹6,762.78 crore in FY24 as compared to ₹5,786.67 crore in FY23.

Key Metrics:

• ROE: 12.8%
• ROCE: 14.0%
• SJVN  Ltd: SJVN is engaged in the business of providing consultancy for hydropower projects. During Q2 FY25, SJVN reported a consolidated net profit of ₹441 crore as compared to ₹439.6 crore in Q2 FY24.

Key Metrics:

• ROE: 5.90%
• ROCE: 4.99%
• NHPC Ltd: NHPC is primarily engaged in generating and selling bulk power to various Power Utilities. During Q1 FY25, NHPC signed a Memorandum of Understanding (MOU) with M/s Ocean Sun, a Norwegian company specializing in Floating Solar technology. This MOU marks a crucial step towards fostering technological collaboration.

Key Metrics:

• ROE: 9.61%
• ROCE: 7.67%

Conclusion

Given the positive long-term outlook of the green energy sector, investing in green energy stocks may help in reaping positive outcomes. However, thorough research is required before investing in green energy shares.

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.