8 Green Energy Penny Stocks in India Investors Are Tracking for 2027

NTPC Green Energy CMP Rs 87.70, market cap Rs 72,340 Cr. NHPC dividend yield 2.12%. SJVN down over 30% in a year. India’s renewable capacity crossed 288 GW by June 2026.

Investors tracking green energy penny stocks in India 2027 are looking at a wider basket than pure solar names, spanning hydro, wind and thermal-to-clean power generators that still trade under Rs 100 a share. NTPC Green Energy, NHPC and SJVN have all corrected sharply from their 2026 highs, while smaller names like RattanIndia Power and Urja Global remain firmly in penny-stock territory.

India’s cumulative renewable energy capacity reached about 288 GW by the end of June 2026, with solar contributing 56% of the mix and wind, large hydro and other sources making up the rest, as the country pushes toward its 500 GW non-fossil fuel target by 2030. Government-backed power generators and their smaller private peers sit at the center of this build-out, and many of these stocks can swing sharply on capacity additions, tariff orders or a single quarter of results.

This article lists 8 green energy penny stocks in India worth tracking for 2027, along with their current price, market capitalisation, valuation ratios and the key risks each one carries.

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8 Best Green Energy Penny Stocks in India for 2027

The table below lists green energy penny stocks in India along with their current market price, market capitalisation, 52-week trading range, PE ratio and return on equity.

Disclaimer: The green energy penny stocks listed above are for educational purposes only and are not buy recommendations. Verify all figures independently and consult a SEBI-registered advisor before investing.

1. NTPC Green Energy Ltd.

Founded: 2022 | Headquarters: New Delhi | Market Cap: Rs 72,340 Cr

NTPC Green Energy is a wholly owned renewable arm of NTPC Ltd., built to house the group’s solar and wind portfolio. It is the largest name by market cap on this list, but it also trades at a rich PE of 119.24 against a sector PE of 23.15, with a thin ROE of 2.76% and the highest debt-to-equity ratio here at 1.67. Investors should treat this as a long-duration capacity growth story rather than a value pick, and watch execution on its under-construction project pipeline.

2. NHPC Ltd.

Founded: 1975 | Headquarters: Faridabad, Haryana | Market Cap: Rs 76,342 Cr

NHPC is a government-owned power generator that has diversified from hydropower into solar and other renewable capacity. The stock trades at a PE of 17.88 against a sector PE of 23.15, offers a dividend yield of 2.12%, and posted an ROE of 9.09%, the strongest profitability on this list. Its diversified generation mix and steady payout history make it one of the more stable names here.

3. SJVN Ltd.

Founded: 1988 | Headquarters: Shimla, Himachal Pradesh | Market Cap: Rs 25,402 Cr

SJVN is a central PSU engaged primarily in hydroelectric power generation, with a growing solar and wind pipeline. The stock has fallen close to 33% from its 52-week high of Rs 95.58 and now trades at a PE of 39.66, well above the sector average, alongside a dividend yield of 2.32% and an ROE of 4.51%. Its debt-to-equity of 2.27 is the highest on this list, typical for a capital-intensive hydropower and renewable capacity builder.

4. Reliance Power Ltd.

Founded: 1995 | Headquarters: Mumbai, Maharashtra | Market Cap: Rs 8,693 Cr

Reliance Power runs a diversified portfolio of power generation assets and remains one of the most actively traded names on this list by volume. The company reported a negative ROE of 0.92% and a loss per share, so its PE ratio is not meaningful. The stock has fallen close to 57% from its 52-week high of Rs 50.73, and any turnaround case here depends on continued debt reduction rather than near-term price momentum.

Also Read: Solar Penny Stocks in India

5. Jaiprakash Power Ventures Ltd.

Founded: 1994 | Headquarters: Singrauli, Madhya Pradesh | Market Cap: Rs 10,712 Cr

Jaiprakash Power Ventures operates hydropower and thermal power plants and has been steadily working through debt reduction over the past few years. The stock trades at a PE of 16.63, below the sector PE of 23.15, with an ROE of 3.54% and a manageable debt-to-equity ratio of 0.27. Shares have fallen close to 37% from their 52-week high of Rs 24.50, making this one of the more actively debated turnaround names on this list.

6. RattanIndia Power Ltd.

Founded: 2007 | Headquarters: New Delhi | Market Cap: Rs 3,754 Cr

RattanIndia Power operates large coal-based thermal plants in Maharashtra and has been diversifying its energy mix over time. The stock has fallen close to 44% from its 52-week high of Rs 12.57, trades at a PE of 33.29, and posted a thin ROE of 1.13%. This is one of the more speculative names on this list, and its investment case rests heavily on capacity utilisation and fuel cost trends.

7. Orient Green Power Company Ltd.

Founded: 2006 | Headquarters: Chennai, Tamil Nadu | Market Cap: Rs 1,066 Cr

Orient Green Power operates a diversified portfolio of wind, solar and biomass power plants and has fallen close to 39% from its 52-week high of Rs 14.93. The stock trades at a PE of 15.95, below the sector average, with a modest ROE of 5.16%. As one of the lower-priced names on this list at under Rs 10, it sees healthy daily trading volumes despite its small market cap.

8. Urja Global Ltd.

Founded: 1992 | Headquarters: Pitampura, Delhi | Market Cap: Rs 447 Cr

Urja Global designs, supplies and installs solar power products, including street lights, water heaters, panels and battery systems. It is the smallest and most speculative name among these renewable energy stocks, with a market cap of just Rs 447 Cr, a PE ratio of 294 that reflects very thin trailing earnings, and an ROE of just 0.76%. This is a high-risk, low-liquidity stock suited only to investors comfortable with significant capital loss.

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What Are Green Energy Penny Stocks?

Green energy penny stocks are shares of companies engaged in renewable or clean power generation and distribution, including hydro, wind, solar and government-backed utilities transitioning away from fossil fuels, that trade at a low absolute price, usually under Rs 100. They give retail investors an inexpensive way to participate in India’s clean energy build-out, but the low price also means wide daily swings, uneven earnings in some cases and, for several names on this list, richly valued stocks despite thin profitability. Green energy penny stocks should be treated as a small, high-risk slice of a diversified portfolio rather than a core holding.

India’s Green Energy Sector: 2027 Overview

The policy backdrop is a big reason these renewable energy stocks are back on investor watchlists heading into 2027. India’s total non-fossil power capacity stood at close to 275 GW as of March 2026, and the government continues to push utility-scale bidding, transmission upgrades and manufacturing incentives across the sector. Key drivers behind this push include:

• PSU capacity expansion: NTPC Green Energy, NHPC and SJVN are all central government-backed entities with large under-construction pipelines feeding the 500 GW non-fossil target.
• Domestic manufacturing push: Production Linked Incentive schemes continue to support local module, cell and equipment manufacturing across the clean energy value chain.
• Grid and transmission investment: Inter-state transmission system upgrades are helping renewable-heavy states like Rajasthan and Gujarat evacuate power more efficiently.
• Thermal-to-clean transition: Legacy power generators such as Jaiprakash Power Ventures and RattanIndia Power are gradually diversifying their asset mix toward renewables.

Also Read: Best Green Energy Stocks in India

Factors to Consider Before Investing in Green Energy Penny Stocks

• Debt levels: Power generation is capital-intensive, so a high debt-to-equity ratio, as seen with SJVN and NTPC Green Energy, can turn a routine slowdown into a solvency concern.
• Valuation versus earnings: Several green energy penny stocks, including NTPC Green Energy and Urja Global, trade at PE ratios well above the sector average despite thin ROE, so check whether the growth story justifies the premium.
• Ownership structure: Government-backed names such as NHPC, SJVN and NTPC Green Energy carry different risk and payout profiles than privately promoted names like RattanIndia Power and Urja Global.
• Profitability trend: Reliance Power currently reports negative ROE, so track the trend in losses rather than the absolute number alone.
• Policy dependence: Tariff orders, transmission approvals and PLI disbursement timelines can swing green energy penny stocks more sharply than most other sectors.

Benefits of Investing in Green Energy Penny Stocks

• Low entry cost: Most green energy penny stocks trade below Rs 100, letting investors build a diversified position with a modest capital outlay.
• Sector tailwinds: India’s 500 GW non-fossil target and rising renewable capacity additions provide a multi-year demand backdrop for the sector.
• Government backing: PSU names such as NHPC and SJVN offer relatively stable cash flows and dividend payouts compared with private penny stocks.
• Policy support: PLI incentives, transmission investment and utility-scale bidding provide a structural tailwind that is not entirely dependent on the broader market cycle.
• Portfolio diversification: Adding a small allocation to green energy penny stocks gives exposure to a theme distinct from banking, IT or FMCG-heavy portfolios.

Risks of Green Energy Penny Stocks

• High volatility: Several stocks on this list, including SJVN and Jaiprakash Power Ventures, have moved more than 35% from their 52-week highs within months.
• Stretched valuations: NTPC Green Energy and Urja Global both trade at PE ratios many times the sector average, leaving little room for earnings disappointment.
• Inconsistent earnings: Reliance Power currently reports negative ROE, making valuation harder to anchor.
• Thin liquidity: Small-cap names such as Urja Global and RattanIndia Power can see wide bid-ask spreads relative to their large-cap peers.
• Regulatory risk: Changes to tariff structures, transmission charges or PLI disbursement timelines can affect earnings with little notice.

Also Read: Power Sector Penny Stocks

How to Choose the Right Green Energy Penny Stock

• Prefer companies with debt-to-equity below 1 and a demonstrated multi-year revenue trend, such as Jaiprakash Power Ventures or NHPC.
• Check ROE consistency over at least three years rather than a single strong quarter.
• Compare the company’s PE ratio against the sector PE to avoid overpaying for a richly re-rated stock.
• Distinguish government-backed PSUs from privately promoted names, since their risk and payout profiles differ meaningfully.
• Assess whether the business is generation-led, EPC-led or a mix, since each carries a different risk and margin profile.

How to Invest in Green Energy Penny Stocks

1. Screen renewable and power sector stocks by market cap, PE ratio and ROE using the Univest Screener.
2. Open a demat and trading account if you do not already have one.
3. Start with a small allocation, given how volatile these small-cap renewable names can be.
4. Track quarterly results, capacity additions and tariff order news rather than daily price moves.
5. Review your position periodically and rebalance if any single stock grows too large a share of your portfolio.

Conclusion

Green energy penny stocks in India 2027 sit at the intersection of a genuine multi-year clean energy build-out and the usual risks that come with low-priced, small-cap equities. NHPC and Jaiprakash Power Ventures stand out on relative valuation, while NTPC Green Energy and Urja Global trade at rich multiples that demand caution. None of these should be treated as a core portfolio holding, and position sizing, debt checks and valuation checks matter more here than the headline price.

Also Read: Top Multibagger Penny Stocks

FAQs

1. What are green energy penny stocks in India 2027?

Ans. These are shares of companies engaged in hydro, wind, solar or clean power generation and distribution, trading at low absolute prices, generally under Rs 100. NTPC Green Energy, NHPC, SJVN, Reliance Power, Jaiprakash Power Ventures, RattanIndia Power, Orient Green Power and Urja Global are among the more actively tracked names.

2. Are green energy penny stocks a safe investment?

Ans. Green energy penny stocks carry high risk due to volatility, thin liquidity and, in some cases, stretched valuations relative to earnings. They can deliver strong returns during sector upcycles but should form only a small part of a diversified portfolio.

3. Which are the best green energy penny stocks in India for 2027?

Ans. Based on current fundamentals, NHPC and Jaiprakash Power Ventures show relatively better valuation support among green energy penny stocks, while NTPC Green Energy, SJVN, Reliance Power, RattanIndia Power, Orient Green Power and Urja Global carry higher risk profiles worth researching closely.

4. Is NHPC considered a green energy penny stock?

Ans. NHPC trades under Rs 100 and is commonly grouped with green energy and renewable penny stocks, though it is a large-cap government-owned company by market capitalisation with a diversified hydro, solar and wind portfolio.

5. What is the market capitalisation of NTPC Green Energy?

Ans. NTPC Green Energy has a market capitalisation of approximately Rs 72,340 Cr, making it the largest name among the green energy penny stocks covered in this list.

6. How can I invest in green energy penny stocks?

Ans. You can invest in green energy penny stocks through any demat and trading account by screening companies on fundamentals such as PE ratio, ROE and debt-to-equity, and starting with a small allocation given the sector’s volatility.

7. Should long-term investors buy green energy penny stocks now?

Ans. Long-term investors comfortable with high volatility may consider a small allocation to green energy penny stocks given India’s 500 GW non-fossil energy target, but should consult a SEBI-registered financial advisor and review each company’s debt and valuation before investing.