Adani Green Ranks 2nd In Top Global Large-Scale Solar Developers List

New Delhi:

Adani Green Energy has been ranked among the top global large-scale solar developers in a report by clean energy communication and research firm Mercom Capital.

Mercom Capital in a statement said the report includes data from July 2022 to June 2023, and used set criteria to compile the rankings and ranked developers with projects in at least two countries.

Other key criteria included the operational capacity of projects, projects under construction, and projects with awarded PPA (power purchase agreement) contracts. Large-scale projects with 1 MW or more were considered, Mercom Capital said.

With a total capacity of 41.3 GW, France-based TotalEnergies emerged as the top solar PV (photovoltaic system) developer in the world based on its operational, under-construction, and awarded (PPA-contracted) projects.

Adani Green Energy ranked second with 18.1 GW, followed by Canada-based Brookfield Renewable Partners with 18 GW.

The ranking table shows the top 10 global large-scale (utility-scale) solar PV developers based on projects in operation, under construction, and awarded (PPA-contracted)

Taking note of the ranking in a post on X, formerly known as Twitter, Adani Group chairman said, “We are happy to see Mercom Capital’s recent rankings, placing us second globally among the world’s large-scale solar PV developers. This recognition underscores our continued and unwavering commitment as one of the fastest growing renewable energy players in the world and on target to achieving our ambitious goal of 45 GW renewable energy capacity by 2030.”

We are happy to see Mercom Capital’s recent rankings, placing us second globally among the world’s large-scale solar PV developers. This recognition underscores our continued and unwavering commitment as one of the fastest growing renewable energy players in the world and on…

— Gautam Adani (@gautam_adani) December 9, 2023

Among the top global solar developers, six were based in Europe, three in North America, and one was headquartered in South Asia. Project portfolios of the top developers were primarily located in North America, followed by Asia Pacific, Mercom Capital said in the statement.

TotalEnergies was also the top company for under-construction and awarded (PPA-contracted) capacities, with 29.3 GW of projects. Brookfield Renewable Partners was the second-largest player, with 13.6 GW, followed by Adani Green Energy with 11.1 GW.

“This year’s report includes several new companies, primarily led by European developers, but with project portfolios spread around the world. Several leaders on the list are actively transitioning towards solar and other renewable energy sources…” Mercom Capital Group CEO Raj Prabhu said in the statement.

On the back of long-term PPAs of 25 years with central and state government entities, Adani Green Energy Ltd (AGEL) has leveraged its capabilities and expanded its presence across 12 states. The company deploys the latest technologies in its projects. With a portfolio of 54 operational projects and 12 projects under construction, AGEL is driving India on its renewable energy journey, the company says on its website.