MNRE sets target to achieve 500 GW of installed RE capacity

The Ministry of New and Renewable Energy (MNRE) set a target to achieve 500 GW of installed renewable energy capacity by 2030, which is expected to create a growth opportunity for the market in the future and the Indian renewable energy market is expected to register a CAGR of more than 10%.

Green Energy Stocks are the companies that are into generation of electricity through renewable means such as Hydro energy, Wind energy, solar energy etc that can be easily replenished without causing any pollution or damage to the environment.

These are the 3 green energy stocks that are going to invest up to Rs. 75000 Crores

Tata Power Company is a large-cap power stock with a market capitalization of Rs. 81,177 Cr. At the day’s closing the company’s shares traded at Rs. 253.80 down by 0.53 percent from its previous day close price.

In the financial year 2023 the company has allocated an additional capex of Rs. 12,000 Cr, it has lined up a capex of Rs. 75,000 Cr for renewable energy over the next five years and over the last 3 years it has deployed a capex of almost Rs.18,000 Cr.

The company’s company’s revenue increased by 28.71 percent from Rs. 42,815.67 Cr in FY22 to Rs. 55,109.08 Cr in FY23, accompanied by increasing profits of Rs. 2,623.44 Cr to Rs. 3,809.67 Cr.

Tata Power Company which is a part of the famous Indian conglomerate the Tata Group, it is primarily involved in the business of generation, transmission and distribution of electricity.

NHPC is a large-cap Indian public sector hydropower company with a market capitalization of Rs. 52,726 Cr. At the day’s closing the company’s shares traded at Rs. 52.45 down by 0.47 percent from its previous day close price.

In the financial year 2023 the company has allocated a capex of Rs.10,800 Cr for setting up and commissioning of renewable energy projects.

The company’s revenue increased by 16 percent from Rs. 9,144.2 Cr in FY22 to Rs. 10,607.4 Cr in FY23, accompanied by increasing profits of Rs. 3,774.33 Cr to Rs. 4,234.74 Cr.

NHPC is a Miniratna central public sector enterprise, it is primarily involved in the generation of power through hydropower stations and sale of bulk power to various power utilities.

JSW Energy is a large-cap power generation company with a market capitalization of Rs. 64,553 Cr. At the day’s closing the company’s shares traded at Rs. 392.50 a piece up 0.17 percent from its previous day close price.

JSW Energy aims for a capex of Rs. 75,000 Cr till Financial year 2030 for the capacity expansion of its renewable energy plant.

The company’s revenue increased by 26.5 percent from Rs. 8,167.15 Cr in FY22 to Rs. 10,331.81 Cr in FY23, accompanied by decreasing profits of Rs1,743.48 Cr to Rs. 1,480.12 Cr.

Jsw Energy is part of the famous Indian conglomerate group the JSW Group, it is engaged in the business of generation, transmission and trading of power.