India stands at a pivotal moment in its energy transition journey. As the world’s third-largest emitter of greenhouse gases, the shift towards green energy is not just beneficial but essential for India. This transition is spearheaded by pioneering companies that have embraced renewable energy sources such as solar, wind, and hydroelectric power to pave the way toward a sustainable future.
Benefits of Green Energy Companies
Environmental Impact: The most immediate benefit of transitioning to green energy is the significant reduction in carbon emissions. Renewable energy companies help mitigate climate change by promoting cleaner and more sustainable energy sources.
Economic Benefits: The renewable energy sector has become a hotspot for job creation, providing employment opportunities in rural and urban areas alike. These companies contribute to economic growth not only through direct employment but also via the development of ancillary industries.
Energy Security: Diversifying energy sources enhances national energy security and reduces dependency on imported fossil fuels, which are subject to volatile markets and geopolitical tensions.
Top 10 Green Energy Companies in India
Adani Green Energy Limited
Adani Green Energy Limited (AGEL) is an Indian renewable energy company headquartered in Ahmedabad. It is majority-owned by the Adani Group conglomerate and minority-owned by TotalEnergies.
AGEL was incorporated in 2015 and has rapidly grown to become India’s largest renewable energy company. As of March 2023, the company manages 7,393 MW of operational wind and solar power projects across 11 states in India
- Founded: 2015
- Key Energy Source: Solar, Wind
- Capacity: Aiming for 25 GW by 2025
- Highlight: Plans to be the largest solar energy provider worldwide.
SAEL
SAEL (Sustainable and Affordable Energy for Life), founded in 2002, is a company primarily engaged in solar power generation and waste-to-energy power generation, with a focus on sustainability and sustainable infrastructure solutions. SAEL has a capacity of 6,500 Megawatts renewable energy generation. They have a detailed portfolio that includes ground-mounted solar projects, agricultural waste energy conversion, solar module manufacturing, procurement, and construction (Engineering, Procurement, and Construction) business.
SAEL has a diversified portfolio that includes projects like CSEPL, LREPL, SPREPL, and UBEPL. SAEL Limited is a key player in the renewable energy sector, contributing to India’s clean energy goals through its innovative projects and sustainable practices.They are steadfast in their commitment and their ESG report indicated that they have effectively prevented the release of 5,82,857.10 tonnes of CO2e emissions in the reporting year.
SAEL’s projects have secured certification/listing from diverse carbon market registries and standards, aligning with their specific criteria. Currently, a total of 9 projects are registered and validated for listing, further verification, and issuance of carbon credits by both the Global Carbon Council (GCC) and The Verra Registry. Additionally, 6 projects are in the process of validation for Gold Standard certification, while 10 projects are undergoing validation for GCC certification by the conclusion of CY 2023.
During April 2023 to December 2023 reporting period, their energy sales soared by an impressive 25%, reaching a remarkable 6,73,527 MWh. This surge catapulted their financial performance to new heights. SAEL also reported that revenues from power supply surged by 24% year-on-year, totaling 4019 million, alongside a substantial 3% EBITDA, soaring to 1751 million with an impressive EBITDA margin of 43%.
- Founded: 2002
- Key Energy Source: Solar Energy and Waste-To-Energy
- Capacity: 6,500 megawatts
- Highlight: One of the fastest-growing renewable energy companies globally.
Suzlon Energy
Suzlon Energy Ltd is an Indian multinational wind turbine manufacturer headquartered in Pune. Founded in 1995 by Tulsi Tanti, the company has a significant presence in the renewable energy sector, with operations spanning across 18 countries.
Suzlon has installed over 17,000 MW of wind power capacity globally and has manufacturing facilities in various locations. The company offers a comprehensive range of services, including wind project planning, execution, and operation & maintenance. Suzlon Energy has achieved notable milestones in the wind energy sector, such as reaching a 10,000 megawatts installed wind energy milestone in India.
- Founded: 1995
- Key Energy Source: Wind
- Capacity: 17,000 MW installed globally
- Highlight: One of the largest wind turbine manufacturers globally.
Tata Power Solar Systems Ltd
Tata Power Solar Systems Limited, formerly known as Tata BP Solar, is an Indian company specializing in solar energy services. Founded in 1989 as a joint venture between Tata Power and BP Solar, the company manufactures solar modules, solar cells, and other solar products.
Tata Power Solar has a significant manufacturing capacity, with its unit in Bangalore capable of producing 400 MW of modules and 300 MW of cells. In 2012, Tata BP Solar India Limited was renamed Tata Power Solar Systems Limited and became a wholly-owned subsidiary of the Tata Group. The company has achieved notable milestones, such as being the first Indian company to ship over 1 GW of solar modules worldwide
- Founded: 1989 (Tata Power’s inception in 1911)
- Key Energy Source: Solar
- Capacity: Leading integrated solar company in India
- Highlight: Pioneers of solar manufacturing in India.
ReNew Power
ReNew Power is a leading renewable energy company in India, founded in 2011 by Sumant Sinha. It is the first Indian renewable energy company to be listed on NASDAQ, going public in 2021 through a merger with RMG Acquisition Corporation II.
ReNew operates in solar, wind, and rooftop energy solutions, with a portfolio of over 10,214 MW of installed wind and solar capacity across eight states in India. The company has been recognized as a Lighthouse by the World Economic Forum for its innovative practices and contributions to the clean energy transition
- Founded: 2011
- Key Energy Source: Wind, Solar
- Capacity: Over 10 GW
- Highlight: First Indian renewable energy company listed on NASDAQ.
JSW Energy
JSW Energy Limited is a leading Indian power company that engages in power generation, transmission, and trading. Founded in 1994, the company is part of the JSW Group, a US$14 billion conglomerate with a significant presence in sectors such as Steel, Energy, Infrastructure, Cement, and Sports.
JSW Energy has a diverse portfolio of power generation assets, including thermal, hydro, and solar power plants across various states in India. The company’s operational capacity stands at 4,541 MW, with a target to increase its generation capacity to 20 GW by 2030. JSW Energy also aims to establish a 40 GWh storage capacity by the same year
- Founded: 1994
- Key Energy Sources: Hydro, Solar, Wind
- Capacity: 4,559 MW
- Highlight: Largest private hydroelectric power producer in India.
Borosil Renewables
Borosil Renewables Ltd. (BRL) is the first and only manufacturer of solar glass in India. Founded in 2010, the company is a part of the Borosil Group, known for its “BOROSIL®” brand.
BRL is engaged in the production of extra-clear patterned glass and low-iron solar glass for applications in photovoltaic panels, flat plate collectors, and greenhouses. As of March 2023, the company has a market capitalization of around ₹6,635 crores
- Founded: 2010
- Key Energy Source: Solar (glass manufacturing)
- Capacity: Largest solar glass manufacturer outside China
- Highlight: Supplies to major solar module manufacturers globally.
Sterling and Wilson Renewable Energy Ltd
Sterling and Wilson Renewable Energy Limited (SWREL) is a leading global solar engineering, procurement, and construction (EPC) solutions provider. Founded in 1994, the company has a strong presence in the renewable energy sector, with a focus on utility-scale solar, floating solar, hybrid, and energy storage solutions.
SWREL has an impressive portfolio of 258 solar power projects across the world, with a total capacity of over 12 GW. The company is backed by the Shapoorji Pallonji Group and has recently seen an acquisition of stake by Reliance New Energy Ltd, a subsidiary of Reliance Industries
- Founded: 2010
- Key Energy Source: Solar
- Capacity: Projects in over 25 countries
- Highlight: Leading global solar EPC solutions provider.
Websol Energy System Ltd
Websol Energy System Limited (WESL) is a leading manufacturer of photovoltaic monocrystalline solar cells and modules in India. Founded in 1990 by Mr. S L Agarwal in a joint venture with the State Government of West Bengal, the company started production with a small facility in Salt Lake, Kolkata.
In 1994, WESL established a state-of-the-art integrated production facility at Falta SEZ, Sector II, Falta, West Bengal. Over the years, the company has steadily increased its production capacity and efficiency
- Founded: 1990
- Key Energy Source: Solar (Photovoltaic cells)
- Capacity: Major exporter to Europe and North Africa
- Highlight: Listed on the NSE and known for high-efficiency PV modules.
NHPC Limited (National Hydroelectric Power Corporation)
NHPC Limited (formerly known as National Hydroelectric Power Corporation) is an Indian public sector hydropower company incorporated in 1975. It is a Mini Ratna Category-I Enterprise of the Government of India, engaged in the planning, promoting, and organizing of integrated and efficient development of hydroelectric power in the country.
NHPC Limited plays a significant role in India’s hydropower development and is among the top ten companies in the country in terms of investment base. The company has executed 22 hydro projects with an installed capacity of 6,717 MW on an ownership basis and is currently engaged in the construction of 3 projects aggregating to a total capacity of 3,130 MW.
- Founded: 1975
- Key Energy Source: Hydroelectric
- Capacity: 7,071 MW
- Highlight: Government enterprise leading in hydroelectric power.
Conclusion
The companies listed above are not just leaders in green energy within India but are also setting benchmarks globally. The continued growth of these companies is essential not only for their business success but for the nation’s energy security, economic vitality, and environmental sustainability.
Frequently Asked Questions
Q1: What is the full form of SAEL?
The full form of SAEL is Sustainable and Affordable Energy for Life. The company has rich expertise in solar power generation and waste-to-energy generation.
Q2: Which is the fastest-growing solar energy production company in India?
Sustainable and Affordable Energy for Life is currently leading the charge in solar energy production in India with ambitious goals to expand further.
Q3: How does renewable energy contribute to job creation?
Renewable energy projects create jobs in manufacturing, installation, and maintenance, significantly impacting local economies.
Q4: Can renewable energy completely replace fossil fuels in India?
A4: Renewable energy has the potential to significantly reduce India’s reliance on fossil fuels, but completely replacing them may pose challenges. While renewable energy sources like solar and wind are becoming increasingly cost-effective and are being rapidly adopted in India, the transition to a fully renewable energy system faces obstacles.
Q5. What are the challenges faced by renewable energy companies in India?
Challenges include high initial investment costs, technological dependency, and the need for supportive government policies.