The top ten utility-scale solar developers from across the globe accounted for 145GW of operational, under construction and contracted projects between July 2022 and June 2023, with French energy giant TotalEnergies being the top solar developer, according to research firm Mercom Capital Group’s latest report.
With a total capacity of 41.3GW, TotalEnergies became the top solar PV developer in the world based on its operational, under-construction, and power purchase agreement (PPA)-contracted projects. India-based renewable energy developer Adani Green Energy ranked second with 18.1GW, followed by Canada-based Brookfield Renewable Partners with 18GW.
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TotalEnergies was also the top company for under-construction and PPA-contracted capacities with 29.3GW of projects, followed by Brookfield Renewable Partners (13.6GW) and Adani Green Energy (11.1GW).
Regarding the top developers with the most operational large-scale solar capacity, TotalEnergies topped the list again with a capacity of 12GW. Italian energy company Enel’s renewables arm Enel Green Power was the second-largest company in terms of operational capacity with 9.2GW, followed by Adani Green Energy with 7GW.
Of the total operational, under construction and contracted capacity of 145GW, 49.5GW of projects were operational, 29.1GW was under construction, and 66.2GW was under contract with a PPA.
“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 decarbonisation goals set by nations and addressing energy security concerns in light of geopolitical developments,” said Raj Prabhu, CEO of Mercom Capital Group.
Geographically, six of the top ten global solar developers were based in Europe. Three of them were from North America, and the last one was headquartered in South Asia. Project portfolios of the top developers were primarily located in North America, followed by Asia Pacific.
The latest list has had significant changes compared to the period from July 2020-June 2021 as covered by PV Tech in September 2022. Lightsource bp, Canadian Solar and Brookfield Renewable Partners were the top three companies with the highest operational, under-construction, and PPA-contracted capacities.