Top Green Energy Stocks in India to Watch in 2025

Overview:

• India’s renewable energy sector is experiencing significant growth, driven by robust government support and substantial private investment.

• Top players, including Adani Green, Tata Power, and IREDA, are leading the clean energy transformation with solid growth potential.

• Emerging firms such as KPI Green, Suzlon, and Inox Green offer exciting opportunities in India’s sustainable investment landscape.

India’s renewable energy sector is growing fast as the country shifts its focus toward cleaner and more sustainable power generation methods. Investors are showing interest in green energy companies because they are supported by government initiatives, private investment, and increasing global attention to environmental responsibility. This article provides a detailed overview of some of the top green energy stocks in India, along with their financial performance and growth potential.

Inox Green Energy Services Ltd.

• LTP: Rs. 264.65

• 1D Change: +2.40%

• Market Cap: Rs. 9,881 Crore

• PE: 499.43

• ROE: 1.00%

Inox Green Energy Services Ltd. is a part of the Inox Wind group, mainly involved in providing operation and maintenance (O&M) services for wind farms. The company’s high P/E ratio of 499.43 shows strong market optimism about its long-term prospects despite modest returns on equity. 

With India expanding its wind energy capacity, Inox Green’s service-based business model is well-positioned for consistent revenue generation. The steady increase in its stock price shows renewed investor confidence in the company’s operational performance and future growth potential in the renewable energy maintenance segment.

Indian Renewable Energy Development Agency Ltd. (IREDA)

• LTP: Rs. 149.37

• 1D Change: +0.55%

• Market Cap: Rs. 41,961 Crore

• PE: 24.65

• ROE: 16.54%

IREDA is a financial institution that supports renewable energy projects across India. It provides loans and financial assistance to renewable ventures, including solar, wind, biomass, and hydro projects. With a strong ROE of 16.54% and a moderate P/E ratio of 24.65, IREDA indicates solid financial health and profitability. 

The company benefits directly from government incentives and policies for green energy financing, making it one of the most reliable firms in India’s renewable financing sector. Its growing market capitalization highlights increasing investor trust in its long-term potential.

Orient Green Power Company Ltd.

• LTP: Rs. 13.86

• 1D Change: +0.51%

• Market Cap: Rs. 1,626 Crore

• PE: 42.31

• ROE: 3.60%

Orient Green Power Company Ltd. is one of the best firms in the green energy stocks list that focuses on generating renewable energy through wind power projects. Although the company is small-scale compared to industry giants, its steady financial improvement and focus on green energy are its strong points. 

With a P/E ratio of 42.31, the market expects gradual earnings growth. The company’s ROE of 3.60% suggests a need to improve operational efficiency, but the rising demand for wind power projects in India makes it a favorable choice for long-term investment.

Tata Power Company Ltd.

• LTP: Rs. 393.20

• 1D Change: +0.37%

• Market Cap: Rs. 1,25,641 Crore

• PE: 31.62

• ROE: 11.07%

Tata Power is one of India’s largest integrated power companies with a diversified portfolio including traditional and renewable energy sources. Over recent years, the company has increased its solar and wind energy capacity, making it one of the best green energy stocks to buy. 

With a large market capitalization and a strong balance sheet, Tata Power is providing consistent returns. The company’s P/E ratio and ROE reflect balanced growth and profitability, while its large-scale solar installations, electric vehicle charging infrastructure, and rooftop solar projects solidify its role as an important player in India’s green future.

Also Read: Suzlon Energy Share Price Holds at Rs. 55 Amid Strong Renewable Energy Orders

JSW Energy Ltd.

• LTP: Rs. 519.15

• 1D Change: +0.35%

• Market Cap: Rs. 90,735 Crore

• PE: 46.50

• ROE: 7.13%

JSW Energy Ltd. is steadily changing its portfolio toward renewable sources such as solar and wind energy. The company’s expansion plans include renewable projects and battery storage facilities that reduce carbon emissions. A P/E ratio of 46.50 shows investor confidence in its growth. 

Although the ROE is moderate, JSW Energy’s long-term planning and solid execution capabilities support its position as one of India’s best clean energy companies.

Indowind Energy Ltd.

• LTP: Rs. 15.19

• 1D Change: +0.13%

• Market Cap: Rs. 196 Crore

• PE: 153.06

• ROE: 0.45%

Indowind Energy Ltd. focuses on developing and operating wind farms in India. Despite its small size and low returns, its high P/E ratio hints at market optimism about potential expansion. 

The company’s emphasis on sustainable energy generation aligns well with national goals, but it faces challenges in scaling operations and improving profitability. Continued support from renewable energy policies may help Indowind strengthen its market presence.

Adani Green Energy Ltd.

• LTP: Rs. 1,059.80

• 1D Change: -0.07%

• Market Cap: Rs. 1,74,568 Crore

• PE: 120.91

• ROE: 13.47%

Adani Green Energy Ltd. stands as one of India’s most valuable renewable energy companies. It operates large-scale solar and wind projects across the country and has been expanding both domestically and globally. 

Additionally, Adani Green has planned ambitious capacity addition targets and a commitment to net-zero goals by 2050. The company’s high P/E ratio of 120.91 shows significant investor expectations, while a healthy ROE of 13.47% highlights efficient use of capital.

Zodiac Energy Ltd.

• LTP: Rs. 397.90

• 1D Change: -0.10%

• Market Cap: Rs. 602 Crore

• PE: 29.61

• ROE: 20.68%

Zodiac Energy Ltd. is a fast-growing renewable energy company that provides turnkey solar solutions. With one of the highest ROE figures in the sector at 20.68%, the company indicates high operational performance and profitability. 

Zodiac Energy benefits from rising demand for rooftop and industrial solar installations. Its moderate P/E ratio and growing market presence make it a promising mid-cap player in the solar energy segment.

Inox Wind Ltd.

• LTP: Rs. 149.45

• 1D Change: -0.41%

• Market Cap: Rs. 25,829 Crore

• PE: 57.45

• ROE: 8.88%

Inox Wind Ltd., a sister company of Inox Green Energy, manufactures wind turbine generators and provides end-to-end wind power solutions. The company has seen strong growth after restructuring and improving its balance sheet. 

With a P/E of 57.45 and ROE of 8.88%, Inox Wind offers a balanced growth backed by India’s expanding wind energy infrastructure. The company’s strong project pipeline and strategic partnerships support its potential for long-term value creation.

BF Utilities Ltd.

• LTP: Rs. 679.55

• 1D Change: -0.55%

• Market Cap: Rs. 2,560 Crore

• PE: 17.48

• ROE: 72.68%

BF Utilities Ltd. focuses on power generation through renewable and non-renewable sources. The company’s high ROE of 72.68% stands out in the sector, indicating efficient capital management. 

Despite being relatively small in scale, its steady performance and attractive valuation make it an interesting choice for investors who want exposure to the renewable segment within diversified utilities.

Also Read: Vikram Solar IPO Allotment: Investors Await Shares, GMP Cools Despite Strong Demand

Sterling and Wilson Renewable Energy Ltd.

• LTP: Rs. 229.87

• 1D Change: -0.80%

• Market Cap: Rs. 5,368 Crore

• PE: 65.95

• ROE: 8.08%

Sterling and Wilson Renewable Energy Ltd. is one of the largest solar engineering, procurement, and construction (EPC) companies in India. The company has strong project execution capabilities and a global presence. 

A P/E of 65.95 suggests high investor confidence, while the ROE of 8.08% indicates stable profitability. Increasing demand for solar projects offers the firm opportunities for further growth.

KPI Green Energy Ltd.

• LTP: Rs. 503.20

• 1D Change: -1.48%

• Market Cap: Rs. 9,930 Crore

• PE: 31.06

• ROE: 12.24%

KPI Green Energy Ltd. develops solar power projects under the brand ‘Solarism.’ The company serves both independent power producers and captive power customers. With a healthy ROE of 12.24% and a moderate P/E, KPI Green is a balanced stock option in the solar sector. Its growing order book and expansion into hybrid renewable solutions provide strong future growth prospects.

NHPC Ltd.

• LTP: Rs. 81.48

• 1D Change: -1.65%

• Market Cap: Rs. 81,847 Crore

• PE: 27.06

• ROE: 7.57%

NHPC Ltd. is India’s largest hydropower company and a public sector enterprise. The company’s consistent performance, strong balance sheet, and steady dividend payouts make it a preferred choice for conservative investors. NHPC is also expanding into solar and wind projects, showing its strategy to diversify and strengthen its clean energy portfolio.

Suzlon Energy Ltd.

• LTP: Rs. 57.38

• 1D Change: -3.74%

• Market Cap: Rs. 78,667 Crore

• PE: 37.72

• ROE: 33.92%

Suzlon Energy Ltd. is one of India’s most recognized stocks in wind energy. After years of financial restructuring, the company has regained profitability and investor trust. A strong ROE of 33.92% indicates efficient operations, while its expanding order book and cost optimization efforts strengthen its position. 

Final Thoughts

The renewable energy sector in India is led by companies such as Adani Green, Tata Power, JSW Energy, and IREDA that are leading with strong fundamentals and expansion plans. Meanwhile, smaller firms such as Zodiac Energy, KPI Green, and Inox Green Energy are also showing great growth potential. 

As India targets 500 GW of renewable capacity by 2030, these stocks represent a crucial part of the nation’s sustainable growth journey. 2025 could be a defining phase for investors focusing on green and responsible investments.

FAQs

1. What are green energy stocks?

Green energy stocks are shares of companies involved in producing or supporting renewable energy sources like solar, wind, and hydro power. These companies contribute to reducing carbon emissions and promoting sustainable growth.

2. Why are green energy stocks gaining popularity in India?

India’s strong focus on achieving net-zero emissions, government incentives, and large-scale renewable projects has made green energy stocks highly attractive to investors seeking long-term growth.

3. Which are the top-performing green energy stocks in 2025?

Leading performers include Adani Green Energy Ltd., Tata Power Company Ltd., IREDA, JSW Energy Ltd., and Suzlon Energy Ltd., all showing strong market potential and financial performance.

4. Are green energy stocks a good long-term investment?

Yes. With India targeting 500 GW of renewable energy capacity by 2030, the sector offers long-term growth prospects, though short-term volatility may occur due to project and policy factors.

5. How can investors choose the best green energy stocks?

Investors should assess factors such as market capitalization, P/E ratio, ROE, and future expansion plans of each company before investing. Diversifying across solar, wind, and hydro energy segments can also help balance risk and return.