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TotalEnergies, Adani Green Energy, and Brookfield Renewable Partners Emerge as Top Large-Scale Solar Developers in Mercom Capita

AUSTIN, Texas , December 04 /Businesswire/ - Mercom Capital Group (Mercom), a clean energy communications and research firm, has released its Annual Global Report announcing the ten leading global large-scale solar PV developers.

The report, which includes data from July 2022 to June 2023, used set criteria to compile the rankings and ranked developers with projects in at least two countries. Other key criteria included the operational capacity of a project, projects under-construction, and projects with awarded PPA contracts. Large-scale projects with 1 MW or more were considered.

With a total capacity of 41.3 GW, France-based TotalEnergies emerged as the top solar PV developer in the world based on its operational, under-construction, and awarded (PPA-contracted) projects. Adani Green Energy, an India-based renewable energy developer, ranked second with 18.1 GW, followed by Canada-based Brookfield Renewable Partners with 18 GW.

Image: The ranking table shows the top 10 global large-scale (utility-scale) solar PV developers based on projects in operation, under construction, and awarded (PPA-contracted).

The top 10 developers accounted for 145 GW of operational, under-construction, and awarded (PPA-contracted) solar projects during the reporting period. Of this, 49.5 GW of projects were operational, 29.1 GW were under construction, and 66.2 GW were in pipeline (PPA-contracted).

Among the top global solar developers, six were based in Europe, three in North America, and one was headquartered in South Asia. Project portfolios of the top developers were primarily located in North America, followed by Asia Pacific.

TotalEnergies was also the top company for under-construction and awarded (PPA-contracted) capacities, with 29.3 GW of projects. Brookfield Renewable Partners was the second-largest player, with 13.6 GW, followed by Adani Green Energy with 11.1 GW.

The top developer with the most operational large-scale solar capacity was TotalEnergies, with 12 GW. Enel Green Power was the second-largest player in terms of operational capacity with 9.2 GW, followed by Adani Green Energy with 7 GW.

The top 10 large-scale solar developers accounted for 49.5 GW of operational projects globally. For under-construction and awarded (contracted) projects, the top large-scale solar developers accounted for more than 95 GW.

"This year's report includes several new companies, primarily led by European developers, but with project portfolios spread around the world. Several leaders on the list are actively transitioning towards solar and other renewable energy sources. This shift aligns with the evolving priorities in the energy sector, focusing on achieving decarbonization goals set by nations and addressing energy security concerns in light of geopolitical developments," said Raj Prabhu, CEO of Mercom Capital Group.

The landscape of large-scale solar development is dynamic and ever-changing, marked by a constant shift in ownership of project portfolios. The allure of quality solar projects is high, particularly within well-established markets. Numerous companies we researched for this report were active in project M&A. Mercom has tracked over 112 GW of solar projects changing hands between July 2022 and June 2023.

The full report, Leading Global Large-Scale Solar PV Developers, is available here.

Notes to Editors

In developing this global leader report, a key criterion for qualification was that developers had to have projects in at least two countries. Although several developers would have made the list based on their portfolio size, they were only active in a single country. Additionally, the report only considers PPA-contracted projects as awarded projects for which construction hasn't started. Some companies with large development portfolios did not make the list as they don't disclose how much of their capacity has signed power purchase agreements.

About Mercom Capital Group

Mercom Capital Group is an integrated communications, research, and media firm focused exclusively on clean energy markets in the U.S., Europe, India, and the Middle East. Our communications division helps clean energy companies build powerful relationships with media, analysts, government decision-makers, local communities, and strategic partners. Our research division produces industry-leading market intelligence reports on solar, storage, smart grid, and hydrogen. Our exclusive quarterly global funding and M&A reports are the industry's primary source for funding activity in the sector. These reports and trackers are crucial for monitoring market, technology, and sector trends, serving as essential tools for investor targeting. Learn more at: http://www.MercomCapital.com. Sign up for Mercom's clean energy reports: https://mercomcapital.com/clean-energy-reports/.

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