Renewable energy is the future and India has set strong targets for energy production. Renewable energy in India is growing rapidly. Many companies have become leaders in renewable energy sectors in areas such as solar,  wind, and hydropower. In this blog, we look at 5 renewable energy companies in India that are leading the country’s clean energy transition.

Defining Renewable Energy

Before looking at the top companies, let’s understand what renewable energy means. Renewable energy is energy that is collected from resources which are naturally replenished on a human timescale such as sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy replaces conventional fuels in four distinct areas:

Electric power – generation of electricity from renewable energy sources like solar power,  wind power, hydropower etc.Heating and cooling – using solar thermal collectors, geothermal heat pumps, and biomass to provide heating and cooling.Transportation – using biofuels, electricity from renewables like solar,  wind to power electric vehicles. Hydrogen produced from renewables can also power fuel cell vehicles.Rural Energy – decentralised renewable technologies like micro-hydro systems, biogas and solar home systems to provide energy in rural and remote areas.

India has abundant renewable resources like solar, wind, biomass which can be tapped to meet its energy needs in a sustainable manner without negative environmental impact. Let’s explore the top renewable energy companies leading India’s transition to clean energy.

Top 5 Renewable Energy Companies in India

1. Harket Group

Hartek Group is one of the leading renewable energy companies in India with a dominant presence in solar power. Founded in 1986, Hartek has over 3000 MW of cumulative renewable energy generation capacity across India. Some key facts about Hartek Group:

It has a strong EPC (Engineering, Procurement & Construction) capability with in-house manufacturing of  solar panels, cells, modules, etc.Hartek has developed multiple large-scale solar parks with aggregate capacity of over 1000 MW across India.It is executing one of India’s largest floating solar projects of 250 MW capacity.The company is expanding in other clean technologies like green hydrogen.Hartek aims to achieve a generation capacity of 10,000 MW by 2025 through aggressive capacity addition in solar and other renewables.

With massive scale of operations, strong EPC capabilities and focus on technological innovation, Hartek Group is one of the most prominent renewable energy companies in India. With a strong and diverse renewable portfolio, Hartek ranks among the top solar EPC players in India.

2. SJVN Limited

SJVN Limited is a mini ratna central PSU mainly involved in hydro power generation. It has diversified strongly into other renewable sectors over the last decade.

SJVN currently has an installed power generation capacity of 2016.5 MW including hydro,  wind and solar.It has also won bids to develop wind and solar projects of over 1000 MW capacity.

With a focus on clean energy expansion, SJVN Limited has emerged as one of the leading renewable energy companies in India in recent years.

3. Waaree Energies Ltd

Waaree Energies started as a solar module manufacturer in 2006 and has since evolved into a full-fledged EPC solar solutions provider. Headquartered in Mumbai, some key aspects of Waaree Energies:

It has developed over 1600+ MW of grid connected solar projects across India.Waaree manufactures solar wafers, cells, modules with capacity of 450 MW annually from its plants.In addition to utility-scale solar parks, Waaree has strengths in rooftop solar, solar pumps and solar home lighting systems.The company is expanding into other renewable sectors like water treatment plants and green hydrogen.

4. JSW Energy Ltd

JSW Energy, a part of the JSW Group, is primarily involved in generation and sale of power from renewable sources. Some key details:

It has an installed generation capacity of 3795 MW including thermal, hydro,  wind and solar.JSW operates India’s largest private thermal power plant in Karnataka with capacity of 1,000 MW.It has commissioned India’s first integrated coal, thermal, solar and energy storage project in Tamil Nadu.The company plans to triple its renewable energy capacity to 5000 MW by 2025.

With diversified renewable portfolio, JSW Energy has emerged as one of the frontrunners in India’s renewable revolution.

5. Suzlon Energy Ltd

Suzlon is a pioneer in the Indian energy sector and now exploring other clean technologies. Key details:

Suzlon has over 20 GW of  wind energy installations in India which accounts for 25% of the country’s  wind power capacity.Apart from strong  wind EPC capabilities, Suzlon is also developing solar farms and hybrid wind-solar projects.The company plans to re-focus on renewable energy over the next 5 years through inorganic growth across solar,  wind, energy storage sectors.

Suzlon’s decades long leadership in the Indian wind sector makes it a prominent renewable energy player in the country. It is expanding operations beyond wind to emerging technologies.

Conclusion

India’s renewable energy sector is booming like never before with massive targets and a policy push for clean energy. The top 5 companies discussed here – Hartek Group, SJVN Ltd, Waaree Energies Ltd, JSW Energy Ltd, and Suzlon Energy Ltd are leading this transition through their pan-India clean energy infrastructure creation capabilities. With technological advancements and cost reductions, the revolution in society is creating more successful businesses. These EPC companies demonstrating that India will be a global leader in renewable energy in the coming years.

Original Source: Published at https://bizbuildboom.com/ on July 30, 2024.