Top 10 global solar developers have 125GW of PV projects, LatAm accounting for nearly 40% of capacity

Lightsource bp was the largest developer in 2021 with more than 23.5GW of solar projects operational or in different phases of development. Image: Lightsource bp.

The top ten developers for utility-scale solar accounted for 125GW of operational, under construction and contracted projects between July 2020 and June 2021, according to a report from research firm Mercom Capital Group.

Almost 100GW of the total capacity is for projects either under construction or contracted with a power purchase agreement (PPA), with Canadian Solar sitting at the top of global developers with 22.2GW, followed by Lightsource bp with 20.9GW and Brookfield Renewable Partners with 17.3GW.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The ranking changes significantly when considering just operational projects, which total 26.89GW between the ten companies. Here, Enel Green Power came first with 4.95GW, followed by Indian developer Adani Green Energy with 4.91GW and Engie third with 3.47GW.

Adani’s second spot can be attributed to its acquisition of 1.75GW of operational assets during the timeframe covered, of which 1.4GW came from the acquisition of SB Energy in October 2021.

You can (de)select the categories by clicking on them in this interactive chart to see how the ranking changes depending on the phases projects are in. Data: Mercom Capital Group.

Moreover, several companies that made the top ten list in the past did not appear in this year’s list due to divestments. This was the case for renewable energy provider GCL New Energy who had ranked first in operational capacity last year.

Latin America was the favoured region for the top ten solar developers with 38% of capacity, followed by the Asia-Pacific (APAC) with 24%, Europe, the Middle East and Africa (EMEA) accounted for 20%, while North America sat at around 18%.

The list has had significant changes compared to the previous year due to a significant increase in project acquisition, with over 64GW acquired globally during the time period, up from the 40GW recorded the year before, which already saw mergers and acquisitions soar.

“Despite lockdowns, labour shortages and supply chain issues associated with the COVID-19 pandemic, top solar developers overcame these challenges and continued to expand in mature and emerging markets at an unprecedented pace,” said Raj Prabhu, CEO of Mercom Capital Group.

26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

May 28, 2024
Google has signed virtual power purchase agreements (PPAs) with two Japanese companies to build 60MW of new solar capacity in Japan.
May 24, 2024
Solar project developer Recurrent Energy has secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio.
May 24, 2024
Indian solar installations increased by over 400% in the first quarter of 2024 to the highest quarterly deployment levels in its history.
May 24, 2024
Quarterly reports from China’s big-five PV module producers highlight the challenges PV manufacturers face in maintaining profitability.
May 13, 2024
Global module prices are unlikely to fall much further and could begin to stabilise, the chairmen of two of China’s largest PV manufacturers, Trina Solar and JinkoSolar, have said.
May 10, 2024
Indian independent power producer (IPP) ReNew has signed 800MW of solar PV power purchase agreements (PPAs) in India.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece