Mercom Capital Group’s latest Annual Global Report highlights the top 10 large-scale solar PV developers from July 2022 to June 2023.
Global Leaders in Large-Scale Solar PV Development
France-based TotalEnergies secured the top spot as the world’s leading solar PV developer, boasting a total capacity of 41.3 GW. Following closely are India’s Adani Green Energy at 18.1 GW and Canada’s Brookfield Renewable Partners with 18 GW.
Key Insights from the Report
The top 10 developers collectively contributed 145 GW to global solar projects, including 49.5 GW operational, 29.1 GW under construction, and 66.2 GW in the pipeline. Europe led with six developers, North America had three, and one hailed from South Asia.
Operational, Under Construction, and Awarded Capacities
TotalEnergies dominated with 29.3 GW in under-construction and awarded capacities. Brookfield Renewable Partners followed with 13.6 GW, and Adani Green Energy secured 11.1 GW. In terms of operational capacity, TotalEnergies led with 12 GW, trailed by Enel Green Power at 9.2 GW and Adani Green Energy at 7 GW.
Mercom Capital Group CEO, Raj Prabhu, noted the report’s inclusion of new European companies and emphasized the industry’s shift toward renewable energy sources. The focus aligns with global decarbonization goals, addressing energy security concerns amid geopolitical developments.
Dynamic Landscape and Project M&A Trends
The large-scale solar development landscape remains dynamic, witnessing constant shifts in project portfolio ownership. Quality solar projects are highly sought after, resulting in significant project M&A activity, with Mercom tracking over 112 GW changing hands between July 2022 and June 2023.
Source: businesswire.com
