TotalEnergies, Adani, Brookfield Emerge Top Global Large-Scale Solar Developers

The top ten developers accounted for 95 GW of pipeline capacity

December 8, 2023


TotalEnergies, Adani Green Energy, and Brookfield Renewable Partners emerged as the leading global large-scale solar photovoltaic (PV) project developers in Mercom Capital Group‘s Leading Global Large-Scale Solar PV Developers report released recently.

The report revealed the top ten global large-scale solar project developers between July 2022 and June 2023.

The developers from around the world with projects in at least two countries were considered based on a set of criteria comprising operational capacity, under-construction capacity, and projects with awarded power purchase agreements (PPA).

Mercom has considered projects with 1 MW or more capacity for the report.

TotalEnergies ranked first on the list of top solar project developers in the world, with a total capacity of 41.3 GW. Adani Green Energy, an India-based renewable energy developer, was second on the list with 18.1 GW; Canada-based Brookfield Renewable Partners ranked third with 18 GW.

“This year’s report includes several new companies, primarily led by European developers, but with project portfolios spread worldwide. 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.

Top Global Large Scale Solar Developers List

The top 10 developers accounted for a total of 145 GW of operational, under-construction, and PPA-contracted solar project capacity during the period.

Of these, 49.5 GW was operational, 29.1 GW was under construction, and 66.2 GW was PPA-contracted capacity.

Six of the ten top global solar project developers were from Europe, three from North America, and one headquartered in South Asia.

The top developer project portfolios were primarily located in North America, followed by Asia Pacific.

TotalEnergies led all three categories with 29.3 GW capacity under construction, PPA-contracted, and 12 GW operational capacity.

Brookfield Renewable Partners had the second largest capacity under construction and PPA-contracted with 13.6 GW, followed by Adani Green Energy at 11.1 GW.

Enel Green Power ranked second for operational capacity with 9.2 GW, followed by Adani Green Energy at 7 GW.

Enel Green’s total capacity, including operational and pipeline projects, stood at 17.1 GW.

The other developers who made it to the top ten list include Lightsource bp (12.3 GW), AES Renewables (10 GW), EDF Renewables (7.7 GW), Invenergy (7.2 GW), Iberdrola (6.8 GW), and ib vogt (6.3 GW).

Mercom Capital’s report highlights the dynamic large-scale solar project development landscape around the world.

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.