Solar Stocks: As time progresses, the central government is emphasizing solar systems. Due to the various solar systems, on the one hand, the traders are benefiting as well as the government. Many market executives said that India has great potential for generating solar energy. But today we are talking about some solar stocks. If you invest in these stocks, then you’ll be rich very soon. The central government has already decided to implement an Approved List of Models and Manufacturers (ALMM) from April 1, 2026, to promote domestic solar PV sales and manufacturing.

The objective of this initiative is to increase quality and reliability in the field of solar energy and reduce India’s dependence on imports. Experts believe that this initiative will play an important role in achieving the target of 500 GW of renewable energy generation by 2030. Here are some of the key solar stocks that will benefit from the scheme.

Adani Green Energy Ltd.

The first name is none other than Adani Green Energy Ltd. Its market capitalization is Rs 2.61 lakh crore. Meanwhile, the share price is Rs. 1,648.00 (0.3% increase). Yes, you’ve heard it right. Adani Green Energy Ltd. (AGEL) can benefit immensely from the Indian government’s ALMM scheme. The company has set a target of 50 GW capacity by 2030 and is working on a massive 30 GW renewable energy project at Khavda in Gujarat. In addition, AGEL is using advanced robotics in solar installations, thereby increasing operational efficiency.

In Q2FY25, AGEL achieved a 38% year-on-year increase in revenue to Rs. 3,055 crore and a 39% increase in net profit to Rs. 515 crore.

Tata Power Company Ltd.

The second one is also a big name. Which is Tata Power Company Ltd.? Its market capitalization is Rs 1.36 lakh crore. On the other hand, its share price is Rs. 427.30 (1.3% increase). You will be surprised after hearing that Tata Power is all set to benefit from the ALMM plan. The company has a total solar module and cell manufacturing capacity of 4.3 GW. Under this, a 2 GW solar cell manufacturing facility at Tirunelveli in Tamil Nadu was commissioned in September 2024, while a capacity of 2.3 GW for solar modules was also commissioned in October 2023.

In Q1 FY25, Tata Power posted a revenue of Rs. 17,294 crore with a growth of 14% year-on-year and a net profit of Rs. 1,189 crore with a growth of 4.2%.

Premier Energies Ltd.

Its market capitalization is Rs. 44,041 crore. Also, the share price is Rs. 976.85 (3.4% increase). Premier Energies, India’s second-largest solar cell manufacturer, has an annual capacity of 2 GW. The company aims to increase its solar cell capacity to 7 GW and solar module capacity to 8 GW by 2026. With the ALMM scheme, the company’s growth prospects are increasing as it will reduce import dependence.

In Q1 FY25, Premier Energies posted a revenue of ₹1,657 crore with a growth of 171% and a net profit of ₹198 crore with a growth of 540%.

Waaree Energies Ltd

Its market capitalization is Rs. 40,136 crore. Meanwhile, the share price is Rs. 2,362.45 (listing at a 60% premium). Waaree Energies is the largest solar PV manufacturing company in India with an installed capacity of 13.3 GW. The company’s expansion plan includes a new factory in the US from 3 GW to 6 GW by 2027, which will be beneficial for domestic manufacturers under ALMM.

In Q1 FY25, the company reported revenue of Rs. 3,409 crore with a growth of 2.5% year-on-year and net profit of Rs. 401 crore with a growth of 18%.