During Monday’s trading session, the shares of two green energy stocks surged up to 11 percent on BSE. The surge came following the release of a draft notification by the Ministry of New and Renewable Energy (Wind Energy Division), outlining a revised framework for the Revised List of Models and Manufacturers (RLMM) of wind turbines.
The draft notification emphasises the importance of local manufacturing, making it compulsory for key components—such as blades, gearboxes, generators, and towers—to be sourced from domestic suppliers. This initiative is expected to significantly boost the share of indigenous content in the production of wind turbines.
Additionally, the notification requires companies to locate the data centers and/or servers within India, as well as establish a local Research & Development (R&D) centre within six months of the order. All wind turbine-related data must be stored and managed within the country.
The move is aimed at addressing concerns from Chinese OEMs in the wind turbine generator market, thereby addressing concerns regarding the potential loss of market share and pressure on Wind Turbine Generation (WTG) margins.
This policy move is largely seen as a strategic response to growing concerns about the dominance of Chinese Original Equipment Manufacturers (OEMs) in India’s wind energy market. By enforcing domestic sourcing, the government aims to protect market share for Indian manufacturers and ease pressure on wind turbine generation (WTG) margins.
Here are the two green energy stocks that jumped up to 11 percent after the government mandated local sourcing in the sector:
With a market cap of Rs. 21,962.4 crores, the shares of India’s leading wind energy solutions provider moved up by nearly 6.2 percent on BSE to hit an intraday high at Rs. 172.8 on Monday.
On 21st April, IWL announced full-scale execution of a 990 MW turnkey order, part of a 1,500 MW framework agreement with Purvah Green (CESC subsidiary). The project spans Gujarat, Rajasthan, and Madhya Pradesh, with phased commissioning from FY26. It’s the largest wind order by an IPP to a wind OEM in India.
IWL operates four advanced manufacturing units across India with an annual capacity of ~2.5 GW, producing blades, towers, hubs, and nacelles. Its 3 MW WTG series is a key offering.
IWL’s subsidiary, Inox Green Energy Services Limited, is the only listed wind O&M services company in India, having a strong portfolio of ~3.5 GW and a multi-fold growth path ahead.
With a market cap of Rs. 81,999.8 crores, the shares of a leading global renewable energy solutions provider moved up by nearly 11 percent on BSE to hit an intraday high at Rs. 61.1 on Monday.
On 17th April, Suzlon secured a 100.8 MW EPC wind power order from Sunsure Energy, marking Sunsure’s debut in wind energy. The project will be executed in Jath, Maharashtra.
Under this agreement, Suzlon will supply 48 S120 wind turbines (2.1 MW each) with Hybrid Lattice Towers, and handle complete project execution—including supply, installation, commissioning, and post-commissioning O&M. This project supports Sunsure’s aim to deliver round-the-clock renewable power in Maharashtra.
Suzlon has an installed base of 15 GW, representing a 31 percent market share of India’s total wind capacity of 48.2 GW
Written by Shivani Singh
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