Muhurat Trading: Invest money in good companies in this sector, expect huge profits..
Diwali is a festival of lights. If seen, nothing is possible without lights on this day. And the biggest responsibility of lighting up the country and the world lies on the shoulders of companies related to the energy sector. Renewable energy is also talked about in energy now. The future is such energy which is natural and never ends. If the companies producing renewable energy grow, then obviously their investors will also benefit. Let us see which companies are leading in this sector and investment can be made in them.
Amidst the concern of climate change, the whole world is moving away from carbon-producing fossil fuels for energy and moving towards clean energy. This energy transition is happening mainly through renewable energy, in which sources like solar, wind, and hydrogen have a major contribution. According to estimates, in the next 30 years, an investment of 150 trillion US dollars (12,450 lakh crore rupees) will be made in this sector.
India is the third largest renewable energy producer in the world, it is playing a leading role in this change and is expected to continue doing so. As of July 2024, India's total installed renewable energy capacity was 197.20 gigawatts (GW). In the financial year 2023-24, the country added 18.48 GW of new capacity, 21% more than the previous year.
Tata Power
Tata Power is one of the most important names in renewable energy. Established in 1919, this company has a century of experience in the energy sector. Currently, Tata Power has a solar power generation capacity of 3,490 megawatts (MW). The company has recently started a 300 MW solar power plant in Dholera, Gujarat. Its share price has given multibagger returns in the last 5 years. There are immense possibilities in this stock in the future as well.
Adani Green Energy
The next name among the major renewable energy companies of India is Adani Green Energy. It is the world's largest solar power producer. The company has a renewable energy capacity of 10,900 MW, of which 7,412 MW is solar, 1,417 MW is wind, and 2,071 MW is hybrid projects.
Adani Green Energy announced a joint venture with Singapore's Total Energy Renewables in September 2024, which aims to operate 1,150 MW of solar projects. Adani Green Energy is developing a 30 GW hybrid renewable energy project in the Khavda region in Kutch, Gujarat, which will be the world's largest power plant.
This project will prevent 58 million tonnes of CO2 emissions every year, which is a significant step globally. The company's current solar module manufacturing capacity is 4 GW and plans to invest heavily in it in the next few years.
L&T
The name of L&T needs no introduction. This company not only specializes in construction and engineering but is now playing a major role in the field of renewable energy as well. In March 2024, L&T inaugurated its first hydrogen electrolyzer plant at Hazira in Gujarat. With this move, the company has entered the field of hydrogen production. Apart from this, L&T Electrolysers is manufacturing electrolyzers domestically by taking technology from McAfee Energy (France).
L&T made renewable energy EPC a separate unit from its power transmission and distribution business in September 2024. The company is a big name in the global market with 22 GWp of renewable EPC so far, which includes floating solar and battery energy storage projects. Additionally, L&T is also focusing on green hydrogen projects in India and the Middle East markets and plans to invest US$4 billion (₹33,200 crore) over the next few years.