Renewables

Who is the largest solar developer in the world? Oil supermajor

mercom top solar developers total

Photo: lhzuniga from Pixabay

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December 6, 2023

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Published:

December 6, 2023

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Oil and gas supermajor TotalEnergies is the biggest large-scale solar power developer, according to operational, contracted and projects under construction. Among the top ten companies in the world, one more is from the global Big Oil group – BP, through its subsidiary Lightsource BP.

Among the top solar developers are renewable energy arms of industrial and power conglomerates, subsidiaries of asset management firms, and pure-play renewables and solar companies.

Six are based in Europe, three in North America, and one in South Asia. Their project portfolios are primarily located in North America, followed by Asia-Pacific, according to the data from end-June published by research firm Mercom Capital Group.

Developers must have projects in at least two countries to be ranked on the global list

The group accounted for nearly 145 GW of facilities in operation or being built and solar projects with power purchase agreements (PPAs) awarded. There is 49.5 GW online, compared to 29.1 GW under construction. The project pipeline came in at 66.2 GW, the report reads.

Mercom included only the projects and facilities with a capacity of at least 1 MW.

The developers ranked have projects in at least two countries. Because of the criterion, there aren’t any Chinese companies on the list.

“Oil and gas super major TotalEnergies has emerged as the top large-scale solar developer. Adani Green Energy and Brookfield Renewable Partners came in second and third, respectively. Enel Green Power and Lightsource bp rounded off the list of top five developers,” the document reads.

According to the report, the global photovoltaics market had a banner year in 2022 with an estimated 191 GW installed, a 22.1% increase year over year.

Cumulative installed solar power capacity surpassed 1 TW in 2022

China added the most, 86 GW or 62.4% more than in 2021, bolstering worldwide growth in solar installations significantly.

The United States had the second-highest increase in solar power capacity in 2022, 17.6 GW. The volume of new installations fell 8.3%, from over 19 GW, due to module supply uncertainty.

“At the end of 2022, cumulative installed solar PV capacity surpassed 1 TW to reach an estimated 1,054 GW. China, the U.S., and Japan accounted for nearly 56% of capacity,” the report reads.

total top solar developers mercom

TotalEnergies operates in Southeastern Europe through its Total Eren subsidiary

TotaEnergies earlier said that it targets 35 GW of gross production capacity from renewable sources and storage by 2025, and 100 GW by 2030.

Of note, its subsidiary Total Eren is active in the region tracked by Balkan Green Energy News. It has 350 MW in renewable electricity plants in operation or under construction in Greece and 90 MW in operation in Bulgaria.

It was also one of the winners in Albania’s first wind power auction.

totalenergies top solar developers mercom

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