TotalEnergies Tops Global Report on Top Large-Scale Solar PV Developers

By Editor


Mercom Capital Group, in its latest report, has revealed the leading players in the large-scale solar PV development arena based on operational, under-construction, and awarded projects.

Spanning from July 2022 to June 2023, this comprehensive report employed stringent criteria to compile rankings, emphasizing developers with projects operational in at least two countries. Factors included operational capacity, projects under construction, and those secured through awarded Power Purchase Agreement (PPA) contracts, focusing on large-scale projects of 1 MW or more.

Key Findings:

TotalEnergies, headquartered in France, secured the top spot among solar PV developers globally, boasting a total capacity of 41.3 GW across operational, under-construction, and awarded projects.

Following closely, Adani Green Energy from India claimed the second position with 18.1 GW, while Canada-based Brookfield Renewable Partners secured third place with 18 GW.

The top ten developers accounted for a staggering 145 GW of operational, under-construction, and awarded solar projects during the reporting period. This encompassed 49.5 GW operational, 29.1 GW under construction, and 66.2 GW in the pipeline through awarded PPA contracts.

Geographical Spread and Company Performance:

Of the top global solar developers, six hailed from Europe, three from North America, and one from South Asia. These developers primarily situated their project portfolios in North America, closely followed by the Asia Pacific region.

TotalEnergies not only led in total capacity but also in under-construction and awarded capacities, amassing 29.3 GW in projects. Brookfield Renewable Partners and Adani Green Energy followed suit with 13.6 GW and 11.1 GW, respectively.

In terms of operational capacity, TotalEnergies retained the lead with 12 GW, while Enel Green Power secured the second position with 9.2 GW, and Adani Green Energy held 7 GW.

Insights and Future Prospects:

Raj Prabhu, CEO of Mercom Capital Group, highlighted the report’s significance, noting the inclusion of new companies led by European developers with global project portfolios. He emphasized the shift of industry leaders toward solar and renewable energy sources, aligning with evolving energy sector priorities centered on achieving decarbonization goals and addressing energy security concerns amid geopolitical developments.

The report also underscored the dynamic landscape of large-scale solar development, witnessing a continual shift in project ownership. Notably, the allure of quality solar projects remains high, prompting active involvement in project mergers and acquisitions. Mercom tracked over 112 GW of solar projects changing hands during the specified reporting period.

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