Renewable energy sources are alternative energy sources, that could hold the key to combating climate change. The use of renewable energy is increasing day by day around the globe. Renewable energy is generated from sources that naturally replenish themselves and never run out. The most common sources are solar, wind, hydro, geothermal, and biomass.
Over 80% of the total energy consumed by humans is derived from fossil fuels. There are a lot of benefits of renewable energy. It creates no direct greenhouse gas emissions, and it can also decrease pollution, renewable energy sources are well-renewable, so they will never run out. Once built renewable facilities cost very little to operate and the fuel is often free. As a result, renewable energy prices tend to be stable over time.
Scope of investment in renewable energy companies
Nowadays investment in renewable energy companies is increasing. It is because it reduces carbon emissions to slow. Many National and international companies are working and investing in renewable energy. Even the government also supports such companies. It is because of its long-term profits. So there is a very demand for investing in renewable energy stocks.
For example, the renewable energy capacity of India in the last 5 years is 17.33% CAGR. Right now India’s renewable energy capacity is 100.68 GW. It is increasing day to day. So there is a huge scope in this sector.
The set-building process for renewable energy sources is quite large. So in the beginning, it seems that there is no scope and lots of debt. But one thing is sure that in future the profit coming from these companies is also huge. Hence there is great value in these companies in the stock market. These days renewable Power share prices also increasing.
Table of Contents
7 Best Renewable energy companies you should invest in 2023
There are many renewable energy companies where you can invest your money and can also get profits. For investing in the share market you need to have a DEMAT account, a trending account. So here are the 7 best stocks to invest in,
NTPC (National Thermal Power Corporation) Limited is an Indian government-owned renewable energy company. This company is primarily involved in the generation and sale of bulk power to state power utilities. But recently the company also included renewable energy sources too. The renewable energy capacity of this company is 1295.5 MW now. The target of the company is to make this capacity 60 GW by 2032. It is also working on many initiative renewable energy projects.
The annual net profit of this company is Rs. 14635 crore with Rs. 15.8 EPS. The renewed Power share price of the company is Rs. 170.95 and it is increasing.
Adani green energy limited
Adani green energy is a holding company of several subsidiaries carrying business of renewable power generation within the group. The company is primarily involved in renewable power generation and other ancillary activities. This company mainly works on solar and wind energy. This is one of the largest green energy renewable companies in India.
The net profit of this company is Rs.210 crores. The renewed Power share price of the company is Rs. 509.55 as of now with a 60.1 percent promoter holding.
JSW energy limited
JSW energy limited and its subsidiaries are primarily engaged in the business of the generation of power from its power assets located in Karnataka, Maharashtra, Nandyal, and Salboni. It is the holding company for the JSW group’s power business. The total capacity of this company is 4559 MW, among which hydro capacity is 1391 MW and solar Power capacity is only 10 MW. But this company is trying to increase the production of renewable energy.
The net profit of JSW energy is Rs. 795 crores with 74.7% promoter holding. The renewable Power share price of JSW energy limited is Rs. 229.60. It keeps going up and down.
Borosil renewables limited
Borosil renewable is engaged in the business of manufacturing extra clear patterned glass and low iron solar glass for application in photovoltaic panels, flat plate collectors, and green energy. This is India’s first and only solar glass manufacturer. Its 77% of revenue comes from India and the other 23% of revenue comes from Europe, Turkey, and USA.
Its market capitalization is Rs. 6952 crores, return on equity is 19.1 percent with Rs. 89.6 crores net profit. The renewed Power share price of Borosil renewable is Rs. 472.00 and it keeps on increasing.
Tata Power is also one of the largest companies that work and produces renewable energy. Its fundamental is also good to invest in. The company has established EV(electric vehicle) charge station. It is a company under Tata group and hence it is a safe place to invest your money. This company is aimed at dedicating India with energy from green natural resources from the force of the wind to the power of the Sun.
The renewed Power share price of Tata Power is Rs. 204.50 and it keeps on increasing. The net profit of this company is Rs. 1052.14 crores as of December 2022.
ReNew power is one of India’s largest transition and global green energy transformations. Companies current renewable energy capacity is 13.4 GW. This Gurgaon, Haryana-based company’s revenue is $912 million as of 2022. Renew operates over 110 projects across 18 states in India. They work on developing, building, earning, and operating utility-scale wind and solar energy projects.
The renew Power share price of ReNew power is 4.31 USD. Investing in this company is profitable as its revenue is increasing every year.
Gita renewable energy
Geeta renewable energy limited was incorporated as a public limited company, under the companies act, of 1956 with the main objective to generate power from renewable resources. This company generates renewable power from wind, solar, and hydro. It can be a profitable investment option.
The revenue of this company is Rs.1.69 crore as of September 2022 with Rs. 1.33 crore income. The renewable Power share price of Gita renewable energy is Rs. 99.00 and it keeps on increasing.
There are many renewable energy companies to invest in. These companies are growing with time. It is easily predictable that the near future generations are going to use this renewable energy as an energy source in all formats. These alternative source resources are a great blessing of nature in human civilization. They are also making the base of the economy of a nation. So there is great value in these renewable energy companies in the stock market.
Not only earning money investment in renewable energy also means saving the environment. Because this energy replaces fossil fuels. But before investing in a company check its market price growth history and other pros and cons.
Hope this article is useful to you.