The fresh water microalga, Stigeoclonium sp., was examined for its eligibility as a biodiesel feedstock. The lipid content and growth performances were studied under normal culture conditions and abiotic stress conditions of nutrient deficiency, hypersalinity and pH stress using Chu-10 medium. Total lipid content was found to be 12.58% dry weight under nutrient replete condition which was enhanced by about 14% dry weight under nitrogen deficiency and by about 6% dry weight under phosphorus deficiency. Growth performances observed under different pH and salinity regimes concluded the ability of the organism to survive in varying environmental conditions. The observations suggest the suitability of Stigeoclonium as a viable source of biodiesel production.