The world is moving towards using cleaner, more environmentally friendly sources of energy like solar, wind, and hydro power. Green energy stocks are shares of companies that make or use these types of renewable energy, aiming to reduce pollution and help fight climate change.
For investors, green energy stocks with low or zero debt are particularly attractive. Low-debt companies tend to be more financially stable, less vulnerable to interest rate fluctuations, and better positioned to weather market volatility. This financial strength allows them to invest in innovation and expansion without the burden of heavy interest payments, making them appealing for those seeking both sustainability and long-term growth in their investment portfolios.
Here is the List of stocks to look out for
Inox Green Energy Services Limited
Inox Green Energy Services Limited is a leading provider of wind energy solutions, specializing in the operation and maintenance of wind farms. The company focuses on delivering sustainable and clean energy through its robust wind turbine portfolio, catering to both domestic and international markets.
With a market capitalization of Rs. 9,174 crores, the company reported a debt-to-equity ratio of 0.09. Its total debt stood at Rs. 181 crores in March 2025, a significant reduction from Rs. 1,085 crores in March 2020. This sharp decrease in debt highlights the company’s strong financial position and low reliance on borrowed funds.
Waaree Energies Limited
Waaree Energies Limited is one of India’s largest solar energy companies, offering a wide range of products and services in the solar power sector, including solar panels, inverters, and turnkey solutions. With a strong manufacturing presence and a focus on promoting renewable energy, it is at the forefront of India’s transition towards a more sustainable energy future.
With a market capitalization of Rs. 1,01,081 crores, the company reported a debt-to-equity ratio of 0.13. Its total debt increased to Rs. 1,199 crores in March 2025 from Rs. 157 crores in March 2020. However, the company’s reserves also rose significantly, from Rs. 101 crores in March 2020 to Rs. 11,198 crores in September 2025. This strong growth in reserves has helped the company comfortably manage its increased debt, maintaining its overall financial stability.
KPI Green Energy Limited
KPI Green Energy Limited is a renewable energy solutions provider, specializing in the generation of power through wind and solar energy. The company is involved in the development and operation of solar parks and wind energy projects, with a strong focus on delivering sustainable and green energy.
With a market capitalization of Rs. 8,799 crores, the company reported a debt-to-equity ratio of 0.61. Its total debt increased to Rs. 1,475 crores in March 2025 from Rs. 139 crores in March 2020. However, the company’s reserves also rose significantly, from Rs. 80 crores in March 2020 to Rs. 2,325 crores in March 2025. This strong growth in reserves has helped the company comfortably manage its increased debt, maintaining its overall financial stability.
Suzlon Energy Limited
Suzlon Energy Limited is a leading renewable energy company and one of the largest manufacturers of wind turbine generators (WTGs) in India. The company provides integrated solutions for wind power generation, from design and manufacturing to installation and maintenance.
With a market capitalization of Rs. 73,057 crores, the company reported a debt-to-equity ratio of 0.05. Its total debt stood at Rs. 323 crores in March 2025, a significant reduction from Rs. 13,210 crores in March 2020. This sharp decrease in debt highlights the company’s strong financial position and low reliance on borrowed funds.
Orient Green Power Company Ltd
Orient Green Power Company Ltd is a renewable energy company with a focus on wind and solar energy projects across India. The company develops, operates, and maintains power plants that generate clean energy, contributing significantly to the reduction of carbon emissions.
With a market capitalization of Rs. 1,485 crores, the company reported a debt-to-equity ratio of 0.51. Its total debt stood at Rs. 552 crores in March 2025, a significant reduction from Rs. 1,353 crores in March 2020. This sharp decrease in debt highlights the company’s strong financial position and low reliance on borrowed funds.
Written by Sridhar J
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