In this article, we’ll take a look at the 15 largest renewable energy companies in Europe. If you want to skip our detailed analysis, head straight to Europe’s 5 largest renewable energy companies.
Thank you for reading this post, don't forget to subscribe!According to a report by the European Environment Agency, the region is making great strides in the use of renewable energy sources. The government and private sector are continuously investing to take the renewable energy sector to new heights. The EU achieved its 20% renewable energy target in 2020, and by 2022, 22.5% of energy consumed in the EU came from renewable sources. The sector aims to achieve carbon neutrality by 2050.
Role of tech giant: Amazon
European countries are making significant investments to promote the use of renewable energy across the region. This explains why Amazon.com, Inc. Big tech companies like Inc. (NASDAQ:AMZN) follow suit in Europe by devoting resources to the sector. On October 23, Amazon.com, Inc. (NASDAQ:AMZN) announced plans to add 39 new renewable energy projects in Europe in 2023 alone. Amazon.com, Inc. (NASDAQ:AMZN) has so far installed 160 wind and solar energy projects in 13 countries in Europe. Once all projects are completed and operational, the portfolio will provide 5.8 gigawatts of clean energy annually to more than 4.7 million European households.
The new portfolio of 39 projects includes the installation of approximately 15 rooftop solar projects and 24 wind and solar projects, including the installation of the first solar farm in Greece. The solar farm in Greece is on a similar scale to the solar farm installed in Poland last year. Earlier, in 2022, Amazon.com, Inc. (NASDAQ:AMZN)’s projects supported more than 3,900 full-time jobs and contributed more than EUR 723 billion to the region’s GDP between 2014 and 2022.
Notable names in the European renewable energy industry
Some notable pure renewable energy companies in Europe include Fusion Fuel Green PLC (NASDAQ:HTOO), Atlantica Sustainable Infrastructure PLC (NASDAQ:AY), and Iberdrola, SA (OTC:IBDRY). You can also check out some of the best renewable energy companies in the world and the top renewable energy companies in the United States.
Fusion Fuel Green plc (NASDAQ:HTOO) is a leading renewable energy company based in Ireland. The company is engaged in green hydrogen production in Portugal, Spain and Morocco. Fusion Fuel Green PLC (NASDAQ:HTOO) focuses on providing hydrogen generators to its customers to help power their green hydrogen plants. On September 14, Fusion Fuel Green plc (NASDAQ:HTOO) announced its strategic partnership with Elemental Clean Fuels, a company developing clean fuel projects in North America. The company has also established a strategic partnership in the technology sector with Elemental. The partnership will allow Fusion Fuel Green PLC (NASDAQ:HTOO) to bid on all PEM-based green hydrogen projects in Elemental’s North American pipeline. The two companies are also currently studying the feasibility of a 2 MW green hydrogen project for the state, to be completed by 2024.
Atlantica Sustainable Infrastructure PLC (NASDAQ:AY) is a leading renewable energy company based in the United Kingdom. Atlantica Sustainable Infrastructure PLC (NASDAQ:AY) provides renewable energy, natural gas and health, power transmission lines and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria and South America. . Africa. On May 4, Atlantica Sustainable Infrastructure PLC (NASDAQ:AY) and Akuo announced the construction of nine photovoltaic plants in Chile. The total capacity of the portfolio of these 9 plants is 80 MW. Together, these plants can power 60,000 homes and prevent more than 60,000 tons of CO2 emissions.
Iberdrola, SA (OTC:IBDRY) is a well-known renewable energy company based in Spain. Iberdrola, S.A. (OTC:IBDRY) specializes in the transmission, provision and supply of electricity in Spain, the United Kingdom, the United States, Mexico, Brazil, Germany, France and Australia. Iberdrola, SA (OTC:IBDRY) generates electricity using renewable sources. On November 11, Iberdrola, SA (OTC:IBDRY) signed a strategic agreement with Abu Dhabi-based renewable energy group Masdar. The two companies plan to co-invest in the 476 MW Baltic Eagle offshore wind farm in the German Baltic Sea. Iberdrola, SA (OTC:IBDRY) will have a 51% stake in the project to enhance European energy independence. The total valuation of the project is EUR 1.6 billion. Iberdrola, SA (OTC:IBDRY) will be responsible for managing the assets and providing maintenance services.
Let’s now take a look at the 15 largest renewable energy companies in Europe.
15 largest renewable energy companies in Europe
15 largest renewable energy companies in Europe
our methodology
To compile the list of the 15 largest renewable energy companies in Europe, we conducted extensive research that included studying industry reports and using Yahoo Finance and Finviz stock screeners to list renewable companies across Europe. To make our list more comprehensive, we have also included energy companies with large renewable energy capacities. We then ranked our pure public companies based on market capitalization as of November 4, 2023, and our privately listed companies based on the latest sales revenue data available.
We obtained market capitalization from Yahoo Finance and sales and revenue from official company reports. This is a list of the 15 largest renewable energy companies in Europe, ranked in ascending order of their market capitalization and latest available revenue as of November 4, 2023.
It should be noted that the revenue in EUR was converted to USD as per the exchange rate on November 4, 2023.
15 largest renewable energy companies in Europe
15. Atlantica Sustainable Infrastructure PLC (NASDAQ:AY)
Market cap as of November 4, 2023: $2.25 billion
Atlantica Sustainable Infrastructure PLC (NASDAQ:AY) is a sustainable infrastructure company that manages renewable energy and other electricity and hydropower sources. It is one of the largest renewable companies in Europe. Atlantica Sustainable Infrastructure PLC (NASDAQ:AY) has a market cap of $2.25 billion as of November 4, 2023.
Fusion Fuel Green PLC (NASDAQ:HTOO), Atlantica Sustainable Infrastructure PLC (NASDAQ:AY), and Iberdrola, SA (OTC:IBDRY) are some of the leading pure-play renewable energy companies in Europe.
14. Acciona, SA (OTC:ACXIF)
Market cap as of November 4, 2023: $7.46 billion
Acciona, SA (OTC:ACXIF) is a renewable energy company based in Spain. The company plans to generate 23,910 GWh in 2022 and prevent 13.4 million tonnes of C02 through renewable generation. Acciona, SA (OTC:ACXIF) to report revenue of EUR 1.12 billion in 2022.
13. Siemens Gamesa
Annual revenue in 2022: $10.53 billion
Siemens Gamesa is the renewable energy subsidiary of Siemens Energy AG (OTC:SMNEY). Siemens Gamesa reports revenue of EUR 9.81 billion in 2022. Based in Germany, the company engages in the development of onshore wind turbines and offshore wind turbines, and provides services for wind farms. The market cap of Siemens Energy AG (OTC:SMNEY) as of November 4, 2023 is $8.11 billion.
12. Fortum Oyj (OTC:FOJCY)
Market cap as of November 4, 2023: $11.67 billion
Fortum Oyj (OTC:FOJCY) is a leading energy company based in Finland. The company reported annual revenues of EUR 8.8 billion in 2022. Fortum Oyj (OTC:FOJCY) provides wind energy, solar energy and hydropower solutions to its customers.
11. Fusion Fuel Green PLC (NASDAQ:HTOO)
Market cap as of November 4, 2023: $12.03 million
Fusion Fuel Green plc (NASDAQ:HTOO) is a leading green hydrogen solutions provider based in Ireland. The company provides hydrogen generators and monitoring services to its customers. Fusion Fuel Green PLC (NASDAQ:HTOO) has a market cap of $12.03 billion as of November 4, 2024 and is one of the largest renewable energy companies in Europe.
10. Ørsted A/S (OTC:DNNGY)
Market cap as of November 4, 2023: $16.99 billion
Ørsted A/S (OTC:DNNGY) is a leading renewable energy company based in Denmark. The company offers a range of renewable energy solutions including offshore wind power, floating offshore wind, renewable hydrogen, onshore wind power, solar and storage, and bioenergy. Ørsted A/S (OTC:DNNGY) to report annual revenue of DKK 132.3 billion in 2022.
9. Repsol, SA (OTC:REPYY)
Market cap as of November 4, 2023: $18.38 billion
Repsol, S.A. (OTC:REPYY) is an integrated energy company based in Spain. The company has projects in offshore wind power, photovoltaic solar power farms and wind power. The company also owns 12 hydropower plants, 2 combined gas cycles and 1 wind farm. To date, Repsol, SA (OTC:REPYY) has installed capacity of 3,870 MWm with a target of achieving 6 GW by 2025.
8. Vestas Wind Systems A/S (OTC:VWDRY)
Market cap as of November 4, 2023: $23.34 billion
Vestas Wind Systems A/S (OTC:VWDRY) is a wind turbine company based in Denmark. The company projects revenues of 14.5 billion euros in 2022. Vestas Wind Systems A/S (OTC:VWDRY) has deployed more than 169 GW of wind energy capacity in approximately 88 countries as of June 30, 2023.
7. ENGI SA (OTC:ENGQF)
Market cap as of November 4, 2023: $40.23 billion
ENGIE SA (OTC:ENGQF) is a leading energy company based in France. The company has expertise in various sectors including power generation, natural gas management, renewable energy and petroleum management. The company has a large renewable energy capacity engaged in wind energy, solar energy, geothermal energy, biomass, biogas and hydrogen. ENGIE SA (OTC:ENGQF) to report annual sales revenue of EUR 93.9 billion in 2022.
6. Eni Spa (NYSE:E)
Market cap as of November 4, 2023: $53.34 billion
Eni SpA (NYSE:E) is a leading energy company based in Rome, Italy. The company has a major stake in renewable energy. Plenitude, a for-profit company of Eni SpA (NYSE:E), is engaged in the production of renewable energy efficiency and electric mobility. The company’s market cap as of November 4, 2023 is $53.34 billion.
Fusion Fuel Green PLC (NASDAQ:HTOO), Atlantica Sustainable Infrastructure PLC (NASDAQ:AY), and Iberdrola, SA (OTC:IBDRY) provide renewable solutions around the world.
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Disclosure: None. 15 largest renewable energy companies in Europe Originally published on Insider Monkey.
Source: finance.yahoo.com