Renewable Energy Companies
Renewable energy is becoming more and more important as conventional energy sources are being slowly depleted. As a matter of fact, this has been on the table for quite a while. There’s already a multitude of green energy related companies whose products are being used to produce a significant amount of energy.
To do this, these renewable energy companies find ways to use wind power, hydropower, solar energy, geothermal energy, bioenergy or other technologies to produce the electricity that we all depend upon. This review will give an overview of the industry leaders by looking at the companies with the largest installed production capacities by MW.
The capacities are calculated by combining the capacities of all production sites that they own or where their technology is being used and only wind and solar power are considered in this review. For comparison, the largest nuclear energy plant in the United States has a total capacity of about 3,937 MW.
Green Energy Companies
So here’s our overview of these green energy companies from across the globe.
Siemens is a huge multinational company that produces anything from cellphone components to trains. They focus on electrification, automation and digitalization. Their goal is to be as energy-efficient and resource-saving as possible, so they can have a positive effect on the world. Their headquarters are in Germany and the group’s total revenue in 2018 was around 93 billion USD.
Among the renewable energy companies, Siemens AG is currently the one with the largest installed solar and wind capacity. The combined capacity from over 3400 completed projects is currently around 241,000 MW and growing.
Siemens also develops all other most popular green energy production technologies. In addition to manufacturing and installing on- and offshore wind power solutions and components for solar plants, they also manufacture hydro power plants, turbines for biomass plants and even solutions for extracting energy from ocean waves.
Vestas is a Denmark based company that specializes in wind power. They offer a wide range of products and have installed more wind power solutions than any other company. They claim to deliver the best wind power solutions by using data to interpret, forecast and exploit wind resources. In 2018, the total revenue of Vestas was around 10.1 billion USD.
With a capacity of around 112,000 MW, they rank second in our list of renewable energy companies. This capacity comes from over 2,500 completed projects in 80 countries and a total of over 68,000 installed wind turbines.
Vestas currently offers three types of wind turbines. The 2 MW, the 4 MW and the EnVentus platform which produces 5.6 MW of power. The EnVentus platform is especially noteworthy because it’s an onshore turbine that achieves industry-leading energy production levels.
GE Renewable Energy
GE Renewable Energy is a division of General Electric. General Electric itself produces about a third of the world’s electricity. Their renewable energy division is the biggest among the renewable energy companies but not all their capacity comes from wind and solar power. The division’s revenue in 2018 was 9.5 billion USD.
Considering only wind and solar, GE Renewable Energy has the installed capacity of about 92,000 MW of power. With over 1100 completed projects in a multitude of countries, GE holds the third position among renewable energy companies with the highest wind and solar capacity.
GE Renewable Energy also offers hydro, storage and grid solutions and digital services in addition to wind and solar. Considering all their products, they claim to have installed over 400,000 MW of clean renewable energy.
NextEra Energy, Inc
NextEra Energy, Inc is a utility company based in Florida, USA. While the previous companies only manufacture and maintenance components for producing energy, NextEra Energy produces energy itself and then sells it to consumers. Consequently, this makes them the biggest solar and wind power producer in the world. Their revenue in 2018 was 16.7 billion USD.
With over 700 completed projects, they have the installed capacity of around 70,000 MW of power. They claim to have generated 64% more wind and solar energy in 2017 than the second largest generator. In addition to generating the power, they’re also the leader in energy storage in the United States.
NextEra has other divisions that produce different types of energy as well. For example, they run eight nuclear power plants in Florida. Those nuclear plants are emissions-free and this green way of thinking has earned NextEra Energy a lot of recognition. The company is also publicly listed as NEE and it’s included in the S&P 100 index.
Formerly known as DONG Energy, Orsted is another energy company based in Denmark and they operate in every part of the green energy chain. They develop, construct and operate offshore and onshore wind farms. Orsted is a NASDAQ Copenhagen company and their revenue from the energy business was around 12 billion USD in 2018.
Orsted’s wind farms produce around 37,000 MW of power and they have the fifth largest capacity among the global renewable energy companies. As a utility company, they operate only their own sites – totaling to around 120. These sites provide electricity to Denmark and other parts or Northern Europe.
Orsted also operates in bioenergy. They have plants and power stations across Denmark which use biomass and waste to produce heat and electricity. The Danish company has a 25% global market share in offshore wind power and their offshore wind parks give power to over 9.5 million people. Orsted is consequently a considerable force among renewable energy companies.
Suzlon is an Indian based company that produces wind turbines. Formerly the fifth largest wind turbine supplier in the world, Suzlon has now dropped in rankings due to their poor financial standings. Their revenue has dropped to around 1.2 billion USD in 2018 while operating at a 0.057 billion USD loss.
Despite the financial troubles, Suzlon is still a major force in the wind power section and has installed a total capacity of nearly 33,000 MW. This capacity totals from around 1050 project and positions the company as the 6th largest in installed renewable energy capacity.
Suzlon’s products are being used worldwide but their most notable contribution is bringing electricity to Indian households. In 2016, they reached the 10,000 MW capacity milestone in India. This provides power to over 5 million households and they continue to increase their output in the area.
Berkshire Hathaway Energy
Berkshire Hathaway Energy or BHE operates its renewable energy business under BHE Renewables, LLC. Based in Nebraska, Berkshire Hathaway is a major multinational conglomerate holding company that is also the sixth-largest private employer in USA and the energy company is one of its subsidiaries. The group’s total revenue in 2018 was 247.5 billion USD.
BHE has been a part of over 380 projects and has a total installed capacity of over 32,000 MW. The company itself owns 1,536 MW of solar-powered generation and 1,665 MW of wind-powered generation that’s currently in operation. The total installed capacity places BHE Renewables on the 7th position in our list of the largest renewable energy companies.
BHE Renewables is also a leader in geothermal energy production and owns 10 geothermal facilities in California’s Imperial Valley. In addition to that, they have a hydroelectric plant in Hawaii that has the capacity to produce up to 10 MW of power and they manage a hydro plant in the Philippines as well.
These are 7 of the major players in the renewable energy market, highlighting the global reaches of these businesses. Some are better known than others, but all are experts in their fields.