Top Renewable Energy Companies in India 2025

India is experiencing a transformative shift in its energy landscape, driven by an urgent need for sustainability, rising electricity demand, and an ambitious national agenda. With a target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030, the country is rapidly scaling up investments in renewable energy infrastructure. This momentum, bolstered by progressive government policies, international climate commitments, and robust private sector participation, has propelled India to become one of the fastest-growing renewable energy markets in the world.

In this dynamic environment, several companies are emerging as key players shaping India’s green energy future. From solar and wind energy giants to hydropower leaders and cutting-edge clean energy innovators, these firms not only drive technological advancements but also offer lucrative investment potential for those looking to capitalise on the sustainable energy wave.

India’s Energy Sector: A Landscape in Transformation

India's energy demand is surging due to rapid industrialisation, urbanisation, and the growing aspirations of a population exceeding 1.4 billion. To meet these energy needs sustainably, the government has implemented supportive policies such as Production Linked Incentive (PLI) schemes and tax benefits for renewable energy investments.

Renewable sources like solar, wind, hydro, and biomass are now central to India's power generation mix. The sector’s attractiveness is further enhanced by the promise of stable returns, essential sector stability, and a critical role in national development.

Top Renewable Energy Companies in India

1. Avaada Group

Avaada Group is a trailblazer in India's solar energy sector. It focuses on developing solar power modules, constructing large-scale solar parks, and delivering integrated clean energy solutions across the country. Avaada is involved in both rooftop and utility-scale solar projects and has played a significant role in India's renewable energy progress. Its relentless pursuit of sustainability and alignment with national clean energy goals places it among the industry’s top players.

2. Tata Power

Tata Power is a household name in India’s energy ecosystem and a major contributor to the country’s clean energy initiatives. Its subsidiary, Tata Power Renewable Energy Limited (TPREL), manages a diverse portfolio including solar, wind, hydro, and EV charging infrastructure. The company plans to triple its renewable capacity in the coming years, positioning itself as a leader in energy transition.

Market Cap: ₹84,000 Cr
Focus: Solar and wind energy, EV infrastructure.
Outlook: Strong growth potential in green energy projects supported by policy and market demand

3. Adani Green Energy Ltd. (AGEL)

Part of the Adani Group, AGEL holds one of the largest renewable energy portfolios in India. It operates utility-scale solar and wind projects across the country and is aggressively expanding capacity to become a global leader in renewable energy.

Market Cap: ₹1,44,000 Cr
Focus: Large-scale solar and wind projects
Outlook: Supported by government policy and committed to emissions reduction

4. Renew Power

ReNew Power is India’s largest independent renewable energy producer, with assets spread across over 11 Indian states. The company is focused exclusively on wind and solar energy and aims to achieve a capacity of 10 GW shortly. Its projects have significantly helped in reducing India's carbon footprint.

5. JSW Energy

A subsidiary of the JSW Group, JSW Energy is transitioning from conventional thermal power to renewable energy sources, particularly wind and solar. The company is investing heavily in green energy initiatives with a long-term commitment to sustainability.

Market Cap: ₹68,000 Cr
Focus: Wind and solar power expansion
Outlook: Significant clean energy portfolio under development for the next decade

6. ACME Solar

ACME Solar is a major player in the Indian solar market, known for developing and operating large-scale solar power projects. It is recognised for delivering reliable, high-quality solar energy and has been a consistent innovator in the field of solar technology and sustainable development.

7. NTPC Green Energy (NTPC Limited)

As India’s largest power producer, NTPC Limited has diversified its portfolio to include substantial renewable energy assets. Its subsidiary, NTPC Green Energy, is focused on solar, wind, and hydro power development to help the country meet its climate goals.

Market Cap: ₹1,80,000 Cr
Renewable Goal: 60% power generation from renewables by 2032
Outlook: Strong public sector backing and robust expansion roadmap

8. Greenko Energy Holdings

Greenko is among India’s most progressive renewable energy companies, operating across solar and wind power. It is integrating advanced energy storage systems for grid stability and is playing a crucial role in minimising the nation’s reliance on fossil fuels.

9. Juniper Green Energy

Juniper Green Energy develops utility-scale wind and solar power projects. The company is committed to sustainable development, with an emphasis on reducing its environmental impact and aiding India in its renewable energy ambitions.

10. Sterling and Wilson Solar

Sterling and Wilson Solar is one of the top engineering, procurement, and construction (EPC) companies in India’s solar sector. Its services include complete solar project lifecycle management and international operations. Its precision and efficiency in project execution make it a global contender.

11. First Solar India

A subsidiary of the U.S.-based First Solar Inc., First Solar India specialises in manufacturing thin-film solar panels and delivering utility-scale solar solutions. The firm leverages cutting-edge technology to offer high-efficiency solar products tailored for the Indian market.

12. Mytrah Energy

Mytrah Energy is an independent renewable energy producer with a diverse portfolio in wind and solar energy. It has made substantial contributions to India’s renewable capacity expansion and continues to focus on scaling its projects across various states.

13. Azure Power

Azure Power has built a reputation for delivering high-performance solar projects across India. It owns and operates utility-scale solar installations and is known for its commitment to innovation, transparency, and sustainability.

14. Sembcorp Energy India Ltd.

Part of Singapore-based Sembcorp Industries, this company operates several renewable energy projects in India, including solar and wind. It is expanding its presence to support India's clean energy goals.

15. L&T Renewable Energy

Larsen & Toubro (L&T) is renowned for its engineering prowess. Its renewable energy division undertakes large-scale solar and wind projects, contributing to India’s energy transition through world-class project execution.

16. Reliance Industries (Energy Division)

India’s largest conglomerate, Reliance Industries, has ambitious plans to lead in green energy. With investments in solar, hydrogen, and clean fuel technologies, the company aims for net-zero emissions by 2035.

Market Cap: ₹16,50,000 Cr
Outlook: Strong diversification with high growth in renewables and green hydrogen

17. Power Grid Corporation

Power Grid operates the country’s most expansive transmission network. It plays a critical role in connecting renewable energy sources to the grid and ensuring smooth distribution across regions.

Market Cap: ₹1,60,000 Cr
Outlook: Stable revenue via long-term contracts and growing focus on green energy transmission

18. Indian Oil Corporation (IOC)

As India’s largest oil and gas entity, IOC is expanding into hydrogen and renewable energy, aligning its core operations with a sustainable future.

Market Cap: ₹1,23,000 Cr
Outlook: Diversified operations and clean energy investments ensure long-term viability

19. NHPC Limited

NHPC leads India’s hydropower generation with a focus on clean, large-scale infrastructure projects. The firm is integral to India's clean energy roadmap.

Market Cap: ₹33,000 Cr
Outlook: Benefits from increasing policy emphasis on hydroelectricity and sustainable water resources

20. Coal India

While traditionally a coal-mining giant, Coal India is diversifying into renewables to reduce environmental impact and future-proof its business.

Market Cap: ₹1,35,000 Cr
Outlook: High dividend yields and new investments in clean energy drive investor interest

21. Suzlon Energy

Suzlon is a pioneer in India’s wind power sector. Known for manufacturing wind turbines and developing wind farms, it has remained a cornerstone of India’s renewable energy movement.

Market Cap: ₹18,000 Cr
Outlook: Poised for recovery with policy support and rising demand for wind energy

Why Invest in India’s Energy Sector?

Exposure to Green Energy Growth

India is among the global frontrunners in renewable energy expansion. Investing in these companies gives exposure to long-term green growth and sustainability.

Stable Dividend Income

Energy companies often offer regular dividend payouts backed by strong cash flows, making them ideal for income-seeking investors.

Sectoral Resilience

Power is an essential service. Regardless of economic cycles, energy companies offer stability and steady demand.

Government Incentives

With initiatives like the PLI scheme, National Solar Mission, and regulatory ease, the sector enjoys strong policy support, creating a fertile environment for growth.

How to Invest in Energy Stocks: A Step-by-Step Guide

Open an Account: Choose a trading platform like Appreciate or Zerodha to begin your investment journey.
Research Thoroughly: Study energy companies’ financials, sustainability plans, and sector alignment.
Diversify: Balance investments between traditional players (e.g., NTPC, IOC) and clean tech leaders (e.g., ReNew, Adani Green).
Track Global Trends: Use real-time data to monitor shifts in global energy markets, commodity prices, and climate policies.

You can also explore US energy stocks through international investing platforms, gaining exposure to global energy innovation and growth.

The Future is Green and Profitable

India’s energy sector stands at a pivotal crossroads—balancing rapid economic growth with environmental responsibility. The push for renewable energy is not just a climate imperative, but a strategic move toward long-term energy security and investment profitability. Whether you're an investor, policymaker, or industry observer, the companies leading this transformation offer both financial promise and environmental hope. As India strives for energy independence and sustainability, the renewable energy sector will undoubtedly be at the heart of its success story.

With inputs from agencies

Image Source: Multiple agencies