Global Energy Majors Strengthen Hold on Utility-Scale Solar

Published: May 19, 2025 14:08

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According to Wiki-Solar, the top 15 utility-scale solar plant owners are all multinational energy companies, with 12 also ranking among the top developers. ACWA Power climbed eight spots to become the #5 developer, driven by major projects in Saudi Arabia.

China’s SPIC and the USA’s NextEra Energy continue to lead both owner and developer rankings. Engie rose to owner #3, ahead of ENEL, which holds the #3 developer spot. Other top European firms include EDF, Iberdrola, RWE, and EDP, alongside strong Chinese and Indian utilities.

Independent developers such as First Solar and Recurrent Energy are being edged out, though DESRI (#16 owner), Neoen, Lightsource, and JinkoSolar remain in the top 30. Founder Philip Wolfe notes that only the most financially capable players will thrive as projects grow larger and faster.

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