Top 10 Renewable Energy Companies in India
Indian government plans to install 175 gigawatts (GW) of renewable energy projects by 2022 and 450 GW by 2030 and these companies are helping achieve that goal
Renewable energy is booming with time to counter the climate crisis, which is exacerbating with every passing moment. In this day and age, everyone is woke of the problems associated with climate change and its repercussions on the environment but only a few are paying heed to the concerning situation.
The way we produce and consume electricity not only impacts our environment but also influences the economy of a nation. India’s electricity sector has always been dominated by fossil fuels but electricity generation from coal significantly declined in 2019, since the rush of renewable power increased considerably.
Renewable energy is the need of the hour as India is trying to reduce its dependency on fossil fuels and trying to reach a net-zero economy by 2070. Advanced technological developments have already exploited natural resources to a great extent and to save the day, it is high time we start relying upon renewable energy sources.
India being the third-largest consumer of electricity, produces 38 percent of renewable energy and it has significantly progressed to implement policies on renewable energy. Indian government plans to install 175 gigawatts (GW) of renewable energy projects by 2022 and 450 GW by 2030. To help achieve the net-zero target set by India during COP26, these top renewable energy companies are making strides for a greener tomorrow.
Here is a list of the top ten renewable energy companies in India:
Tata Power is the third-largest power producer in the nation. It is highly contributing to the shifting setting of India’s renewable energy rush. The company has a 2.6 GW renewable power capacity across eleven states. It plans to expand its capacity to 15 GW by 2025. The firm seems to convert its largest and most ambitious 4000 megawatts (MW) coal power station at Mundhra into a renewable economy. Its renewable energy assets include solar and wind accounting for 36 percent of the company’s portfolio at 3883 MW, consisting of 932 MW Wind and 1705 MW Solar.
This Mumbai-based company has formed a partnership for its green energy plans and is all set to build a fully integrated end-to-end renewable energy ecosystem through solar and hydrogen sources. The company is targeting solar manufacturing of 100 GW and green hydrogen costs of US$1 per kg by 2030. The firm is zealous to be net-zero by 2035.
The company endeavors to be the largest renewable firm by 2030. It owns a portfolio of about 2.5 GW, which is going to be 18 GW by 2025. Adani Renewables aims to become the world’s largest solar company in the company years. It also bought Inox Wind wherein it got 50 MW of wind power projects across 3 manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh.
At present, the company has approximately 2,458 megawatts (MW) of renewable projects under construction. JSW has 4,559 MW generating capacity out of which 3,158 MW is thermal power, 1,391 MW is hydropower and 10 MW solar power. The company’s generation capacity will increase to 7 GW, with a rise in the capacity of renewable energy from 30 percent to 55 percent.
Sterling and Wilson
Sterling and Wilson is one of the foremost end-to-end solar EPC solutions providers globally. The company is amongst the top 5 solar EPC manufacturers in India, with a total capacity of 6,661 MW. More than 50 projects are under installation making up for a capacity of 3,919 MW.
Inox Wind is one of the leading manufacturers of wind turbine generators in India. They are a completely unified wind energy solution provider engaged in providing services to IPPs, utilities, PSUs, corporates, and retail investors. Inox Wind will supply and install DF 113/92 – 2.0 MW capacity wind turbine generators with 113-meter rotor diameter and 92-meter hub height.
Borosil Renewables is India’s only solar glass manufacturer for the past several years. The company has a strong vision for expanding its domestic and exports footprint. The firm receives 77 percent of its revenue from India and the remaining by exporting mostly to USA, Turkey and Europe.
The company has been working under hydro, renewables, thermal, mining, and engineering procurement and construction (EPC). It consists of a total of 6000 MW of capacity and an asset size of $2 billion. Hindustan Power has successfully installed a capacity of around 450 MW in India and its first solar power plant of 5 MW.
ReNew Power is an independent power producer. It generates renewable energy through solar and wind power. It is known to provide power to state electricity boards and large industrial companies in India. The venture has a plentiful GW of wind and solar capacity. It further plans to expand its portfolio projects under implementation to 10,000 MW within five years.
Ministry of New and Renewable Energy
The Ministry of New and Renewable Energy (MNRE) works under the government of India. MNRE is responsible for coordinating renewable energy sources such as wind power, small hydro and solar power. The extensive aim of the ministry is to develop and deploy new and renewable energy for enhancing the energy requirements of India.