Adani Green Energy ranked second-largest global solar PV developer: Mercom

AGEL with its total solar capacity of 18.1 GW ranked second after France-based TotalEnergies, which holds a total capacity of 41.3 GW

Adani Green Energy Limited (AGEL) has been declared the second-largest global solar PV developer in the global solar energy sector, according to Mercom Capital Group's Annual Global Report.

Mercom Capital Group is a clean energy communications and research firm. In its global annual report, it has unveiled the top ten leading global large-scale solar PV developers based on data compiled from July 2022 to June 2023.

AGEL was ranked this position based on its contribution and performance in the renewable energy sector. France-based TotalEnergies, which holds a total capacity of 41.3 GW, was ranked number one and followed by AGEL with its total solar capacity of 18.1 GW. Canada-based Brookfield Renewable Partners came in third with 18 GW.

The top 10 developers made up 145 GW of operational, under-construction, and PPA-contracted solar projects between July 2022 to June 2023. Within this, 49.5 GW of projects were operational, 29.1 GW were under construction, and 66.2 GW were in pipeline (PPA-contracted).

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The list also includes (in descending order of rank) Enel Green Power, Lightsource bp, AES Renewables, EDF Renewables, Invenergy, Iberdrola, and ib vogt. 

Among the top 10 global large-scale solar PV developers, six were based in Europe and three in North America. AGEL is the only South Asian-based company to make the global list.

AGEL is India's largest renewable energy solutions partner enabling the clean energy transition. The Adani company currently has an operating renewable portfolio of 8.4 GW across 12 states. Upon the release of the report, Gautam Adani, the chairman of Adani Group reaffirmed the firm's commitment to large-scale renewables, developing an indigenous fully integrated manufacturing ecosystem and green hydrogen solutions.

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"At the Adani portfolio level, a total investment of $75 billion (by 2030) on our energy transition initiatives will further our vision to have 45 GW renewable energy capacity by 2030 and strengthen the pivotal role played by AGEL in India's glide path to decarbonisation," the chairman added.