Renewable energy, once a niche in the energy market, has morphed into a key power source worldwide. This remarkable growth signifies a pivotal shift from traditional fossil fuels to cleaner, sustainable sources like solar, wind, hydroelectric, geothermal, and biomass.
Spearheading this transformation are the world’s largest renewable energy companies. Based in diverse locations, from Spain and Denmark to China, the U.S., and Canada, these companies lead the charge in clean energy provision.
The sector’s financial might is underscored by the 10 biggest renewable energy firms, ranked by their 12-month trailing revenue as of December 15, 2022. This ranking includes companies publicly traded in the U.S. or Canada, directly or through ADRs.
Notably, some of these stocks trade over-the-counter (OTC) in the U.S., presenting unique challenges like higher trading costs and potential impacts on returns. Despite these challenges, these companies are at the forefront, driving the global shift toward renewable energy.
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Top 10 renewable energy companies
The following are the top 10 renewable energy company:
1. General Electric Co. (GE)
Revenue (TTM): $75.07 billion.
Market Cap: $89.02 billion.
GE, a Fortune 500 multinational, is more than a healthcare and aviation giant. It’s a leader in renewable energy, especially known for wind turbine and energy-efficient software innovations. Despite a challenging year with a net income of -$5.84 billion and a -11.09% return, GE’s impact on green energy solutions remains significant.
2. Iberdrola SA (IBDRY)
Revenue (TTM): $53 billion.
Market Cap: $71.81 billion.
Based in Spain, Iberdrola shines in the clean energy industry. Specializing in wind (both onshore and offshore), hydro, solar, and battery storage, it boasts a $4.99 billion net income and a 12.07% return. Iberdrola’s global footprint extends from the U.S. to Australia, powering through in electricity generation, distribution, and trading.
3. Constellation Energy Corp. (CEG)
Revenue (TTM): $22.64 billion.
Market Cap: $29.71 billion.
With a focus on carbon-free energy, Constellation, based in Baltimore, leads as the largest producer in the U.S. Offering electrical, nuclear, and natural gas services to a diverse clientele, it reported a net income of -$151 million. However, its impressive 113.65% return highlights its growing influence in clean energy.
4. NextEra Energy (NEE)
Revenue (TTM): $19.84 billion.
Market Cap: $172.98 billion.
NextEra stands out with a diverse energy portfolio, providing wholesale power and operating power plants. It serves a wide range of customers, from retail electricity providers to industrial corporations. With a net income of $3.83 billion, despite a slight -1.28% return, NextEra is a global leader in wind and solar generation, complemented by nuclear power and natural gas.
5. Vestas Wind Systems A/S (VWDRY)
Revenue (TTM): $15.46 billion.
Market Cap: $29.58 billion.
Denmark’s Vestas Wind Systems, a prominent wind energy company, specializes in developing, manufacturing, and installing wind turbines. Its service segment adds value with contracts and spare parts. Despite a challenging period with a net income of -$1.09 billion and no return, Vestas has made a global impact with installations in numerous countries.
6. Jinko Solar Holding Co. Ltd. (JKS)
Revenue (TTM): $10.58 billion.
Market Cap: $2.50 billion.
Jinko Solar, based in China, is a key player in the solar energy industry. It manufactures a range of solar products and offers system integration services. With a net income of $27.95 million and a 10.31% return, Jinko Solar caters to a global market, including the U.S., Europe, Asia, Africa, and Latin America.
7. Canadian Solar Inc. (CSIQ)
Revenue (TTM): $7.03 billion.
Market Cap: $2.26 billion.
Canadian Solar, operating out of Canada, focuses on designing and manufacturing solar photovoltaic modules and providing energy solutions. It also operates solar power projects and offers maintenance services. With a net income of $188.1 million and a 13.62% return, Canadian Solar has a customer base spread across more than 160 countries.
8. Brookfield Renewable Corp. (BEPC)
Revenue (TTM): $4.76 billion.
Market Cap: $7.50 billion.
Brookfield Renewable, based in Canada, excels in owning and operating renewable power assets globally. Primarily focused on hydroelectric power, it also manages wind, solar, distributed generation, and storage facilities. With a net income of $887.55 million and a 3.92% return, the company demonstrates its robust presence in renewable energy.
9. Daqo New Energy Corp. (DQ)
Revenue (TTM): $4.14 billion.
Market Cap: $3.46 billion.
Daqo New Energy, a major player in the solar PV industry, prides itself as a low-cost, high-purity polysilicon producer. Operating from Xinjiang, China, with a capacity of 70,000 metric tons, Daqo’s products are vital for solar power solutions. With its headquarters in Shanghai and a net income of $1.63 billion, along with a 10.16% return, Daqo contributes significantly to the solar energy market.
10. Algonquin Power & Utilities Corp. (AQN)
Revenue (TTM): $3.35 billion.
Market Cap: $6.59 billion.
Algonquin Power & Utilities, located in Oakville, Ontario, Canada, serves over a million consumers in North America with regulated utility and renewable energy services. It offers natural gas, water, and electricity through its Liberty business. Investing in solar, wind, hydro, and thermal energy, Algonquin, despite a net income of $39.31 million and a -42.19% return, boasts over $16 million in global assets, underscoring its commitment to clean energy.
Read also: The 4 leading countries for renewable energy in Africa
