Top Green Energy Stocks to Watch In 2024
Sustainability is the future. And it is reflected in various sectors. Individuals, organizations, and even the government are focused on sustainable and environment-friendly solutions for transport, packaging, agriculture, and more. It is not surprising then, that companies dealing in sustainable solutions are in high demand and green energy stocks likewise.
Green Energy Stocks
Green energy or clean energy is dependent on natural resources to generate energy that does not produce any sort of emissions. Using resources such as wind, sun, or water to generate energy power is called green energy. And companies that deal in the same are clubbed together as green energy stocks. These companies are involved in designing, researching, and deploying solutions to make the most of green energy.
Top Green Energy Stocks for 2024
The central government is targeting to generate 50% of its electricity via non-fossil fuels by the year 2030 and to be completely carbon neutral by 2070. This has resulted in lots of excitement in green energy stocks. If you want to add stocks that deal with green energy, here are some of the top stocks for 2024.
K. P. Energy Limited: The company was established in 2010 and deals in wind energy projects, right from development, construction, and deployment. K. P. Energy has been expanding its wind farms and offers project management services as well.
Market capitalisation - ₹ 3,911 crore
Stock price - ₹ 586
PE Ratio - 64.6
ROCE - 41.0%
BF Utilities Limited: The company was established in 2000 and deals in the generation of energy using wind farms and infrastructure development.
Market capitalisation - ₹ 3,697 crore
Stock price - ₹ 982
PE Ratio - 134
ROCE - 8.61%
KPI Green Energy Limited: The company was established in 2008 and deals primarily in solar energy. The company develops and sells solar solutions to industries.
Market capitalisation - ₹ 10,502 crore
Stock price - ₹ 800
PE Ratio - 53.6
ROCE - 21.6%
Premier Energies Limited: The company was established in 1995 and is one of the leading names in renewable resources. The company deals in the manufacture of solar PV cells and modules.
Market capitalisation - ₹ 46,984 crore
Stock price - ₹ 1,042
PE Ratio - 203
ROCE - 25.2%
SJVN Limited: The company was founded in 1988 and is a public-sector company that deals with hydroelectricity. In recent years, it has diversified into solar and wind energy as well.
Market capitalisation - ₹ 46,913 crore
Stock price - ₹ 119
PE Ratio - 50.7
ROCE - 4.99%
Orient Green Power Company Limited: The company was established in 2006 and deals primarily in the generation of electricity via biomass and wind.
Market capitalisation - ₹ 2,245 crore
Stock price - ₹ 19.1
PE Ratio - 100
ROCE - 6.97%
KKV Agro Powers Limited: The company was established in 2012 and engages in renewable power solutions using wind energy.
Market capitalisation - ₹ 43.4 crore
Stock price - ₹ 766
PE Ratio - 161
ROCE - 4.62%
Conclusion
It is no secret that the government is also constantly pushing for renewable energy sources. In such exciting times, as an investor, you can make the most of this transition. Investing in green energy stocks can give you access to a sector that has a strong future and growth opportunities. Above is a list of green energy stocks that have performed well over the last 5 years and have an average return on investment of more than 7% for the duration.