Top 10 biggest renewable energy companies in the world
Back in 2020, President Biden laid out a USD$2 tn plan to battle climate change, which placed the U.S. on an “irreversible path” towards net-zero carbon emissions by 2050. As part of this plan, the Biden administration’s Build Back Better plan included tax benefits for investments in the renewable energy sector. The global renewable energy sector is expected to rise to USD$1.97 trillion by 2030.
Green energy is generated from renewable resources such as wind, water and sunlight, and investments in the sector have skyrocketed.
According to a report by International Energy Agency, renewables were the only energy source that saw an increase in demand in 2020 despite the Covid-19 pandemic. BloombergNEF reported that global investment in the energy sector was a record USD$755 billion in 2021, with the renewable energy division of wind, solar, and other renewables making up the most part.
Technology Magazine looks at which companies are leading the way in renewable energy.
10. First Solar, Inc.
Market Cap: $8.23 Billion
First Solar, Inc. provides photovoltaic and solar energy solutions in the United States, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells solar modules that convert sunlight into electricity.
First Solar has developed, financed, engineered, constructed and currently operates many of the world’s largest grid-connected PV power plants. Their experience across the solar value chain reduces risk while delivering more reliable, dependable and cost-effective solutions for our customers.
9. Plug Power Inc.
Market Cap: $14.91 Billion
Plug Power Inc. provides hydrogen fuel cell solutions for the mobility, material handling, and stationary power markets in North America and internationally. On February 17, 2022, the company announced it will be collaborating with Atlas Copco Mafi-Trench Company LLC, a global leader in brazed heat exchangers and cryogenic cold boxes, to develop hydrogen liquefication plants.
8. Vestas Wind Systems
Market cap: $15.2 billion
Vestas Wind Systems is a Denmark-based wind energy company. It develops, manufactures, and installs wind turbines. The company also operates a service segment that provides service contracts, spare parts, and related activities. The company has installed wind turbines in scores of countries across the globe. Every day, 29,000 employees help to create a better world by designing, manufacturing, installing, developing, and servicing wind energy and hybrid projects all over the world. With +145 GW of wind turbines installed in 85 countries, their sustainable energy solutions have already prevented 1.5 billion tonnes³ of CO₂ being emitted into the atmosphere and contributed to a more sustainable energy system.
7. SolarEdge Technologies, Inc.
Market Cap: $16.48 Billion
SolarEdge Technologies, Inc. designs, develops, and sells direct current optimised inverter systems for solar photovoltaic installations worldwide. The company operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The Ukraine crisis is acting as a catalyst for the increase in demand for alternative fuels and the outlook on the renewables industry looks strong.
6. Brookfield Renewable Partners LP (BEP)
Market Cap: $19.01 Billion
Brookfield Renewable Partners L.P. runs renewable power generating facilities in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources. Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Their portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia.
5. Siemens Gamesa Renewable Energy SA
Market Cap: $23.24 billion
Siemens Gamesa is a Spain-based wind engineering company. It sells onshore and offshore wind turbines, turbine gearboxes, off-grid, and other related equipment. It also provides maintenance and reconditioning services. The company serves customers across the globe and has installed products and technology in over 90 countries. 40 years ago, Siemens saw the potential to blend nature and engineering, envisioning the possibility of powering factories and lighting up cities, all whilst cleaning the air we breathe. Today, they’ve made that vision a reality by producing clean energy to power our homes, schools, and hospitals to keeping the world moving – from the largest cities to the most remote corners of the planet.
Market Cap: $24.84 Billion
Enphase Energy, Inc. designs, develops, manufactures, and sells residential energy solutions for the solar photovoltaic industry in the United States and internationally. Founded in 2006, Enphase transformed the solar industry with their revolutionary microinverter technology which turns sunlight into a safe, reliable, resilient, and scalable source of energy to power lives. Today, their intelligent microinverters work with virtually every solar panel made, and when paired with their award-winning smart battery technology, engineers one of the industry’s best-performing clean energy systems.
3. Orsted A/S
Market Cap: $52.97 billion
Orsted has the goal of becoming carbon neutral in operations and energy production by 2025. The Denmark-based multinational power company focuses on providing renewable energy solutions, specifically in wind power segments where it constructs and operates offshore wind farms. Its bioenergy and thermal power segment operate combined heat and power plants.
2. Iberdrola SA
Market Cap: $71.19 billion
Iberdrola is a Spain-based multinational electric utility company. The company engages in the generation, distribution, and trading of electricity. It specialises in clean energy, including onshore and offshore wind, pumped hydro, solar photovoltaic, and battery storage. Iberdrola also operates in the U.S., U.K., Spain, Mexico, Brazil and has an international presence in Portugual, Greece, Japan and Austrailia.
1. NextEra Energy, Inc.
Market Cap: $160.55 Billion
NextEra Energy, Inc. generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, coal, and natural gas facilities. NextEra are the world’s largest utility company, built and based in America, they generate more wind and solar energy than any other company in the world.