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Clean Energy Firms Plan Rs25,000 Crore IPO Wave to Power Growth

India’s renewable energy sector is gearing up for a record IPO rush, with clean energy companies planning to raise nearly Rs25,000 crore in the coming months. The move reflects the sector’s growing maturity and the urgent need for capital to meet the country’s 2030 renewable energy target of 500 GW.

Several firms are awaiting SEBI’s nod, including Emmvee Photovoltaic and Juniper Green Energy (Rs3,000 crore each) and Prozeal Green Energy (Rs700 crore). Regen-Excel EPC India, an ethanol plant manufacturer, has already received approval for a Rs500 crore issue, while Saatvik Green Energy has clearance for a Rs1,150 crore IPO. Meanwhile, Hero Future Energies, backed by KKR, is preparing a Rs5,000 crore issue, and solar manufacturer SAEL is expected to file draft papers soon.

Industry experts view the IPO wave as critical for mobilizing $20–25 billion annually—the level of investment required to meet renewable targets. Valuations of clean energy firms are now on par with traditional infrastructure companies, attracting both institutional and retail investors.

Analysts estimate that nearly Rs20 lakh crore will be needed between FY26 and FY30, positioning IPOs as a key financing channel for India’s clean energy expansion and transition.