As the global community shifts towards sustainable energy solutions, several companies have emerged as leaders in the renewable energy sector. These corporations are not only influential because of their size but also due to their impact on the global energy landscape. Here’s a look at the ten biggest renewable energy companies worldwide, known for their substantial contributions to wind, solar, hydroelectric power, and other renewable sources.
The Powerhouses of Renewable Energy
1. Vestas
Vestas Wind Systems A/S is a renowned company that specializes in developing, manufacturing, selling, and maintaining wind power plants. Founded in 1898 by Smith Hansen and Peder Hansen in Aarhus, Denmark, Vestas operates under the Power Solutions and Service segments.
The Power Solutions segment focuses on onshore and offshore wind power plants, wind turbines, and development sites, while the Service segment is involved in service contracts and spare parts. With a global presence and a strong commitment to sustainable energy solutions, Vestas has installed over 100 GW of wind turbines in around 80 countries, making it a key player in the renewable energy industry.
- Headquarters: Aarhus, Denmark
- Focus: Wind energy
- Notable Fact: Vestas is the world’s largest wind turbine supplier, greatly influencing wind energy markets with its cutting-edge technologies and extensive service solutions.2
2. SAEL
Sustainable & Affordable Energy for Life is one of the fastest-growing renewable energy companies of the world. Their fundamental tenets rest upon environmental preservation and economic
prosperity. They are oriented towards diminishing greenhouse gas (GHG) emissions and advocating for the integration of renewable energy into the broader energy portfolio. Their steadfast commitment has effectively prevented the release of 5,82,857.10 tonnes of CO2e emissions in the reporting year.
SAEL’s has RE capacity of 3.2 GW and they are committed to annual expansions of 2-2.5 GW. They take pride in their dedication to deploying state-of-the-art technology and investment of around INR 15,000 crores in projects by FY25. They are supported by a range of funds and DFIs committed to responsible investment principles.
Recently, SAEL announced a mammoth investment plan to the tune of ₹35,000 crore, which is aimed at expanding their renewable energy portfolio. Furthermore, SAEL’s Chief Investment Officer, Varun Gupta stated that they are now gearing up for another billion-dollar capital raise, combining both debt and equity which is slated for June 2024.
SAEL’s projects have achieved certification or listing from various carbon market registries and standards, meeting their respective requirements. Presently, nine projects have been registered and validated for listing, further verification, and carbon credit issuance through both the Global Carbon Council (GCC) and The Verra Registry. Additionally, six projects are currently undergoing validation for Gold Standard certification, and ten projects are expected to be validated for GCC certification by the end of calendar year 2023.
- Headquarters: Aerocity, New Delhi, India
- Focus: Solar energy and Waste-to-energy
- Notable Fact: SAEL is the world’s fastest-growing renewable energy company. Their project portfolio spans 24 sites, encompassing both operational and under-implementation projects, strategically located across 10 Indian states.
3. Siemens Gamesa
Siemens Gamesa is a prominent global provider of renewable energy, particularly wind power, formed in 2017 through the merger of Gamesa Corporación Tecnológica and Siemens Wind Power. Headquartered in Spain, Siemens Gamesa operates worldwide, offering innovative solutions for sustainable energy.
The company designs, manufactures, and installs wind turbines both onshore and offshore, in addition to providing maintenance and service for wind turbines. Committed to delivering clean, reliable, and affordable wind power, Siemens Gamesa has a strong focus on sustainability and innovation, receiving recognition for its efforts in these areas. With a market capitalization of approximately €10 billion as of 2021, Siemens Gamesa continues to lead the renewable energy sector with its cutting-edge technology and commitment to a greener future.
- Headquarters: Zamudio, Spain
- Focus: Wind energy, services
- Notable Fact: A global leader in wind turbine manufacturing, Siemens Gamesa excels in both offshore and onshore wind projects, known for its innovative and reliable wind energy solutions.
4. Suntech
Suntech is a renowned company specializing in solar energy solutions, particularly in the production of crystalline silicon solar cells and modules. Founded in 2001, Suntech has established itself as a leading photovoltaic manufacturer globally, with a strong focus on research, development, and innovation in solar technology.
The company has a significant presence in over 100 countries, having supplied more than 22GW of photovoltaic modules. Suntech is dedicated to providing reliable, high-quality solar products and aims to be a trusted provider in the renewable energy sector through continuous advancements in technology and management practices.
- Headquarters: Wuxi, China
- Focus: Solar photovoltaic
- Notable Fact: One of the pioneers in solar technology, Suntech has produced solar modules that power millions of households around the world.
5. GE Renewable Energy
GE Renewable Energy is a significant division of General Electric that focuses on producing energy from renewable sources. With a strong emphasis on wind, solar, and hydroelectric solutions for power generation, GE Renewable Energy is headquartered in Paris, France.
The company has a global presence and offers a wide range of products and services, including wind turbines, grid solutions, and digital services. GE Renewable Energy has a track record of innovation and sustainability, aiming to meet the growing demand for carbon-free electricity and contribute to the global energy transition towards cleaner sources.
- Headquarters: Paris, France
- Focus: Wind, hydro, solar energy
- Notable Fact: Part of the larger General Electric conglomerate, GE Renewable Energy is a major player across various sectors, including wind turbines and hydroelectric power.
6. NextEra Energy
NextEra Energy, Inc. is a prominent American energy company with a substantial generating capacity of about 58 GW and revenues exceeding $18 billion in 2020. The company, with approximately 14,900 employees, operates across the United States and Canada, focusing on providing energy solutions and investing significantly in energy infrastructure.
NextEra Energy is a key player in the renewable energy sector, being the world’s largest generator of renewable energy from wind and solar sources. The company has a diverse fuel mix and a strong commitment to clean energy, with a significant portion of its electricity derived from renewable sources. Additionally, NextEra Energy has been involved in various mergers and acquisitions, aiming to expand its operations and influence in the energy industry.
- Headquarters: Juno Beach, Florida, USA
- Focus: Solar and wind energy
- Notable Fact: NextEra Energy is the world’s largest generator of renewable energy from the wind and sun and one of the largest wholesale generators of electric power in the U.S.
7. Orsted
Ørsted (formerly DONG Energy) is a Danish renewable energy company that has undergone a remarkable transformation in recent years. Founded in 1972, the company was initially focused on oil and gas exploration and production. However, in 2009, Ørsted announced its vision to become a global leader in renewable energy, with a goal of generating 85% of its energy from renewable sources by 2040
- Headquarters: Fredericia, Denmark
- Focus: Offshore wind energy
- Notable Fact: Orsted has transformed from a fossil fuel-based energy company to a global leader in offshore wind power, championing the large-scale deployment of wind energy solutions.
8. Canadian Solar
Canadian Solar Inc. is a globally recognized company that specializes in manufacturing solar photovoltaic (PV) modules and executing large-scale solar projects. Founded in Canada in 2001, Canadian Solar has established itself as one of the largest publicly traded solar companies worldwide, known for its premium quality solar modules.
The company boasts an impressive track record of deploying over 110 GW of solar modules globally since its inception, with a strong presence in more than 160 countries. Canadian Solar is renowned for its innovative solar technologies, including half-cut cell modules, bifacial modules, multi-bus bar modules, 166mm wafers, and shingled modules.
- Headquarters: Ontario, Canada
- Focus: Solar photovoltaic
- Notable Fact: As one of the largest solar companies in the world, Canadian Solar delivers high-quality, solar panel solutions to customers across the globe.
9. First Solar
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions. The company is known for its commitment to responsible solar practices, which encompasses its treatment of employees, environmental management, and business operations.
First Solar’s innovative technology is based on Cadmium Telluride (CadTel) thin film, which is the result of extensive research and development, capital investment, and a streamlined manufacturing process
- Headquarters: Tempe, Arizona, USA
- Focus: Photovoltaic (PV) solar systems
- Notable Fact: Known for its innovative thin-film semiconductor technology, First Solar specializes in designing and manufacturing solar modules that deliver reliable, cost-effective solar energy.
10. Enel Green Power
Enel Green Power is a global leader in the renewable energy sector, producing and managing energy generated from renewable sources worldwide. Founded in 2008 as part of the Enel Group, the company has a presence in Europe, America, Asia, Africa, and Oceania
With a managed capacity of over 43 GW, including more than 39 GW of installed capacity across over 1,200 plants, Enel Green Power has an annual production of approximately 108 TWh. The company’s generation mix includes wind, solar, hydroelectric, and geothermal power.
- Headquarters: Rome, Italy
- Focus: Wind, solar, hydroelectric, and geothermal power
- Notable Fact: Enel Green Power has an extensive renewable energy portfolio and is heavily involved in the research and development of new technologies.
Conclusion
The above companies represent the forefront of the renewable energy industry. Their significant contributions not only drive technological advancements but also help reduce global dependence on fossil fuels, leading to a more sustainable future. As these companies continue to innovate and expand their reach, they play a crucial role in shaping a greener planet.
These companies are at the heart of the transformation in the global energy markets, showing that sustainability can go hand-in-hand with economic growth and technological innovation. As the demand for renewable energy increases globally, these companies’ influence is expected to grow, playing a key role in the global transition towards sustainable energy solutions.
