Aug 12: India’s renewable energy sector is witnessing unprecedented growth as the country moves towards achieving its ambitious clean energy targets. Rising electricity demand, supportive government policies, increasing private sector investments, and the rapid adoption of solar and wind power are creating long term opportunities for companies operating across the renewable energy value chain. For investors looking to gain exposure to this structural growth story, several listed companies have established themselves as key players, while a few emerging companies are attracting attention through their strategic transition into renewable energy.
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Tata Power
Tata Power has emerged as one of India’s leading integrated power companies, with significant investments across solar energy, electric vehicle charging infrastructure, rooftop solar solutions, and renewable power generation. In Q1 FY27, revenue stood at18,898 crore, up 8%, while PAT rose 11% to 1,401 crore. Backed by the Tata Group, the company continues to strengthen its clean energy portfolio while maintaining a diversified power business.
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NTPC Green Energy
As the renewable energy arm of NTPC, NTPC Green Energy is playing a crucial role in India’s energy transition. In Q1 FY27, net profit rose 38% year-on-year to 305 crore. The company is expanding its solar, wind, and green hydrogen projects to support India’s long-term renewable energy ambitions.
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Adani Green Energy
Adani Green Energy has built one of the world’s largest renewable energy portfolios through utility-scale solar and wind projects. In Q1 FY27, revenue from power supply rose 29% to 4,280 crore, while EBITDA increased 33% to 4,122 crore. Energy sales also grew 30%, supporting continued expansion in generation capacity.
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Gujarat Inject Kerala Ltd
Gujarat Inject Kerala Ltd, which has proposed to rebrand as Regenova Renewtech Ltd, reported a strong Q1 FY27 performance. Revenue from operations rose to ₹12.45 crore from ₹2.42 crore in the same quarter last year, while net profit increased to ₹1.25 crore from ₹7.35 lakh year-on-year. The company secured a 50 MW solar project in Zimbabwe and a 10 MW solar power project in India. The stock was trading around 11, with a potential target of 13, implying nearly 30% upside if execution remains strong.
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Waaree Energies
Waaree Energies has established itself as one of India’s leading solar module manufacturers. In Q1 FY27, revenue rose 79% to 7,932 crore, while net profit increased 14% to 850 crore. Supported by increasing domestic manufacturing capacity and strong demand for solar equipment, the company is positioned to benefit from India’s growing focus on self-reliance in clean energy manufacturing.
The Road Ahead
India’s renewable energy industry is expected to remain one of the country’s fastest-growing sectors over the coming decade. Established companies such as Tata Power, NTPC Green Energy, Adani Green Energy, Waaree Energies, Suzlon Energy, and JSW Energy continue to lead the transition through large-scale investments and execution capabilities. At the same time, emerging companies such as Gujarat Inject Kerala Ltd are positioning themselves to benefit from the sector’s long-term growth.
