There are many companies eager to take over the green power industry in India. Among them, Adani Green Energy Limited (AGEL) stands out as a major player, boasting one of the largest renewable energy portfolios in the country. However, it faces competition from Tata Power, ReNew Energy Global, and JSW Energy, each expanding their clean energy projects.
This brings us to the question: Who is India’s true green energy giant today? Let’s compare these companies to find the best investment option.
Adani Green Energy Limited (AGEL)
Adani Green Energy Limited (AGEL), a subsidiary of the Adani Group, is a prominent Indian renewable energy company specializing in the development, ownership, and operation of utility-scale solar, wind, and hybrid power projects across 12 Indian states.
As of March 2025, AGEL’s operational renewable energy capacity stands at 12,591.1 MW, following the recent commissioning of a 250 MW solar project in Andhra Pradesh.
AGEL has played an important role in India’s clean energy initiatives such as the 2,140 MW world’s largest wind-solar hybrid power cluster under construction in Jaisalmer, Rajasthan.
AGEL’s efforts have significantly contributed to reducing carbon emissions and promoting sustainable energy solutions nationwide.
Comparison with Other Major Players
Here’s a table comparing Adani Green Energy Limited with other major green energy players in India:
| Company | Total Installed Capacity | Renewable Energy Capacity | Key Strengths | Future Plans |
| Adani Green Energy | 12,591.1 MW (as of 2025) | 12,591.1 MW (100% renewable) | Largest renewable energy company in India, strong project pipeline | Expand capacity to 45 GW by 2030 |
| Tata Power | 14,707 MW | 5,847 MW (40% renewable) | Diversified energy portfolio, stable financials | Increase renewable capacity to 20 GW+ in 5-6 years |
| ReNew Energy Global | 13.4 GW | 13.4 GW (100% renewable) | Pure-play renewable company, high generation output | Expand beyond 20 GW in the coming years |
| JSW Energy | 6,564 MW | ~2,500 MW (38% renewable) | Rapid expansion, part of JSW Group | Grow to 20 GW renewable capacity by 2030 |
Investment Considerations
When evaluating investment opportunities within India’s green energy sector, it’s essential to analyze the financial performance, strategic initiatives, and potential risks associated with leading companies. Here’s an overview of key players:
1. Adani Green Energy Limited (AGEL)
Adani Green Energy Limited (AGEL) has demonstrated impressive financial performance, achieving a profit growth of 36.1% CAGR over the last five years.
The company’s recent commissioning of a 250 MW solar power project in Andhra Pradesh has increased its total operational renewable capacity to 12,591.1 MW.
As of April 2025, the Adani Green share price is around ₹930+, reflecting a 22% increase from its 52-week low of ₹758.
AGEL’s consistent profit growth and expanding renewable energy portfolio position it as a compelling investment opportunity in India’s green energy sector.
2. Tata Power
Tata Power reported a 10.35% year-on-year increase in net profit for Q3 FY25, reaching ₹1,187.54 crore, with revenues rising by 5% to ₹15,391 crore.
In comparison, Adani Green Energy’s net profit surged by 78.26% to ₹492 crore during the same period, despite a 22.1% decline in revenue to ₹2,630 crore.
While Tata Power’s consistent performance is noteworthy, Adani Green’s higher profit growth, even amid revenue challenges, may offer an upper hand for traders considering Adani stocks.
3. ReNew Energy Global
In Q3 FY25, ReNew Energy reported a 10% year-on-year increase in total income to ₹2,119.8 crore, with adjusted EBITDA rising by 11% to ₹1,388.2 crore.
However, the net loss widened to ₹387.9 crore from ₹321.6 crore in the same period last year.
On the flip side, Adani Green Energy Limited has demonstrated stronger financial performance, solidifying its leading position in India’s renewable energy sector.
4. JSW Energy
In the third quarter of fiscal year 2025, JSW Energy reported a 32% year-on-year decline in consolidated net profit, amounting to ₹157.45 crore, primarily due to reduced revenues from thermal and hydropower projects.
This downturn contrasts with Adani Green Energy’s performance, which achieved an 85% increase in consolidated net profit, reaching ₹474 crore during the same period.
Adani Green’s solid growth underscores its leading position in India’s renewable energy sector.
Conclusion
Adani Green Energy Limited (AGEL) stands as India’s leading renewable energy company, boasting an operational capacity of 12,591.1 MW as of March 2025. Its ambitious projects, such as the Khavda renewable energy plant—the world’s largest—underscore its commitment to sustainable energy. Despite recent legal challenges, AGEL’s substantial contributions and expansive vision position it at the forefront of India’s green energy sector.