Energy Sector A Hot Sector for Environment & Investors

India’s wind energy sector accounts for 10% of the total power capacity, with major players such as Suzlon Energy, Inox Wind, Waaree Energies, Premier Energies etc. Energy sector demonstrates stronger profitability and efficiency, supported by robust margins, debt reduction, and strategic initiatives. Energy sector players show growth potential by maintaining consistent margins. Many companies are well-positioned for expansion, benefiting from India’s renewable energy goals as India aims to generate 50% of the electricity from green sources by 2030.

India aims to generate 50% of the electricity from green sources by 2030. India is on the way to grabbing every opportunity in the energy sector to serve its massive population and expand its potential to shift from limited traditional energy sources. In India, 10% of power is generated by wind energy from total installed utility power generation capacity.

India is the third-largest producer and consumer of electricity worldwide, with an installed power capacity of 446.18 GW as of June 30, 2024.

As of June 30, 2024, India’s installed renewable energy capacity (including hydro) stood at 203.19 GW, representing 45.5% of the overall installed power capacity. As of June 30, 2024, Solar energy contributed 85.47 GW, followed by 46.65 GW from wind power, 10.35 GW from biomass, 5.00 GW from small hydropower, 0.59 from waste to energy, and 46.93 GW from hydropower.

The non-hydro renewable energy capacity addition stood at 15.27 GW in FY23, up from 14.07 GW in FY22.

India’s power generation witnessed its highest growth rate in over 30 years in FY23. Power generation in India increased by 6.80% to 1,452.43 billion kilowatt-hours (kWh) as of January 2024. According to data from the Ministry of Power, India’s power consumption stood at 1,503.65 BU in April 2023.

The peak power demand in the country stood at 249.85 GW in June 2024.

The coal plants registered a Plant Load Factor (PLF) of 73.7% for the first nine-months period in FY23 compared to 68.5% in FY22 for the same period.

Thermal power plant load is estimated to improve by 63% in FY24, fuelled by strong demand growth along with subdued capacity addition in the sector.

As of August 2024, India’s total installed wind energy capacity stood at 47.2 GW, making the country the fourth-largest wind market globally in terms of cumulative capacity.

India has set ambitious goals, including achieving net zero carbon emissions by 2070 and generating 50% of its electricity from renewable sources by 2030. With increased production and heightened awareness about environmental sustainability, India aims to reach 140 GW of wind capacity by 2030, supported by an expected compound annual growth rate (CAGR) of 8% until 2029.

To lead the wind energy sector in India, the major wind energy companies include Suzlon Energy, a market leader in wind turbine production, and Noida-based Inox Wind, which manufactures wind turbines and offers services like site acquisition and wind resource assessment.

Top Energy Sector Companies for Watchlist

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