Shares of clean energy companies, including Waaree Energies, Suzlon Energy, Adani Green, and Inox Wind, surged up to 15% in intraday trading on Saturday. This sharp rise followed the Finance Minister’s announcement of plans to develop a robust clean power technology ecosystem.

Under the Make in India initiative, a new manufacturing mission has been introduced to strengthen domestic production of solar photovoltaic (PV) cells, electrolysers, and grid-scale batteries—critical components in India's transition to clean energy.

Following the announcement, Waaree Energies jumped 15%, while Suzlon surged 11%. Stocks of Adani Green Energy, Inox Wind, Acme Solar, KPI Green, and Gensol Engineering climbed up to 10%.

The Finance Minister emphasized that clean tech manufacturing would be prioritized to enhance domestic value addition in key sectors, including solar cells, EV batteries, wind turbines, and large-scale battery storage.

With India targeting 500 GW of renewable energy capacity by 2030, these measures are expected to accelerate progress toward this goal.

Market experts believe the initiative will significantly benefit leading solar PV manufacturers such as Premier Energies, Waaree Energies, and Adani Enterprises by strengthening domestic production and reducing import reliance.

Battery manufacturers like Amara Raja Batteries, HBL Power Systems, and Exide Industries are also poised for growth, as the mission prioritizes expanding India’s energy storage capabilities. Amara Raja Batteries saw a nearly 4% rise in Saturday’s trade.

“Beyond solar and energy storage, this initiative will drive growth for wind turbine manufacturers and renewable energy firms. Companies like Inox Wind, Orient Green Energy, Suzlon Energy, and KPI Green Energy are set to capitalize on India's commitment to clean energy and sustainable industrial expansion,” said Divyam Mour, Research Analyst at SAMCO Securities.