2 Green Energy Stocks in Focus After India Mandates New Wind Turbine Norms

India has rolled out strict regulations for wind turbine equipment manufacturers, mandating the use of locally sourced key components and enforcing robust data localisation standards.

According to a notification published on the Ministry of New and Renewable Energy’s (MNRE) website on Thursday, manufacturers are now required to buy key components like blades, towers, generators, gearboxes, and specialised bearings (including main, pitch, and yaw bearings), only from vendors approved under a new government-sanctioned list.

To ensure compliance, a dedicated technical team set up by the MNRE will conduct inspections of the manufacturing facilities producing the aforementioned components. Based on these inspections, the ministry will issue a separate list, titled the Approved List of Models and Manufacturers (Wind Turbine Components), i.e., ALMM (Wind Turbine Components), to officially certify qualified suppliers.

The directive also requires all wind turbine data to be stored within India and prohibits the transfer of real-time operational data to servers abroad. Additionally, manufacturers must set up their operational control centres and R&D facilities within the country within one year—a move aimed at strengthening India’s cybersecurity ecosystem.

This initiative is also designed to boost the domestic wind turbine manufacturing sector, which currently has an annual production capacity of 20 GW, according to government data.

India has outlined an ambitious plan to reach 500 GW of non-fossil fuel energy capacity (including hydro and nuclear) by 2030, nearly twice the current installed capacity of 235.6 GW.

Some exemptions will apply to projects already bid out or those set to be commissioned in the near term. However, any new models falling under the exemption will be limited to 800 MW over two years and must submit quarterly progress reports, the notification added.

Here are a few domestic wind equipment manufacturers expected to benefit from the initiative:

1. Inox Wind Limited

With a market cap of Rs. 26,649.4 crores, the stock moved up by around 3.5 percent on BSE to hit an intraday high at Rs. 156 Friday morning session. Inox Wind Limited, one of the leading wind OEMs in India, is engaged in the business of manufacturing and sale of Wind Turbine Generators (WTGs). It also provides erection, procurement & commissioning (EPC), operations & maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.

As of Q4 FY25, Inox Wind recorded a robust order book of around 3.2 GW, covering end-to-end EPC/limited scope EPC contracts, reflecting a 21 percent YoY growth from 2,656 MW in Q4 FY24. This robust order pipeline provides solid revenue visibility over the next 2-3 years.

The company’s order book is well-diversified, with marquee clients including NTPC, CESC, NLC India, Hero Future Energies, Inox Green Energy, Continuum, Integrum, and Amplus.

2. Suzlon Energy Limited

With a market cap of Rs. 88,391 crores, the stock moved up by around 6.3 percent on BSE to hit an intraday high at Rs. 65.5 Friday morning session. Suzlon Energy Limited, India’s no.1 wind solutions provider, is primarily engaged in the business of manufacturing Wind Turbine Generators (WTGs) and the sale of related components of various capacities.

As of May 2025, the company reported its highest-ever domestic order book at 5.6 GW, supported by a strong pipeline that provides a clear revenue outlook. For FY25, the WTG business saw its contribution margin expand to 23 percent, reflecting a rise of 360 basis points YoY.

On 1st August 2025, Suzlon secured a 381 MW order from Zelestra India and its affiliates. The project will deploy 127 of Suzlon’s S144 turbines across three states: Maharashtra (180 MW), Madhya Pradesh (180 MW), and Tamil Nadu (21 MW). The Maharashtra and Madhya Pradesh segments are part of SJVN’s FDRE tender, while the Tamil Nadu capacity will cater to Commercial & Industrial (C&I) power consumers.

3. Adani Wind Limited

Adani Wind is the Wind Turbine Generator (WTG) manufacturing arm of the Adani Group and is not a listed company. It focuses on becoming a leading global manufacturer and supplier of advanced blades, nacelles, and hubs, which are the key components powering the clean energy revolution.

The company operates an integrated manufacturing facility for WTGs located in Mundra, Gujarat. As part of its growth strategy, the company is scaling up this facility to reach a production capacity of 5 GW, aiming to establish itself as a major global wind Original Equipment Manufacturer (OEM).

Adani Wind has developed one of the world’s most powerful onshore wind turbines, with a capacity of 5.2 MW. Developed in collaboration with Germany’s Wind2Energy (W2E), this turbine features a 160-metre rotor diameter and a swept area of 20,106 square metres, roughly the size of four football fields. With a tip height ranging from 200-220 metres, it even surpasses the height of the Statue of Unity.

Written by Shivani Singh

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post 2 Green Energy Stocks in Focus After India Mandates New Wind Turbine Norms appeared first on Trade Brains.