Green Energy Companies Driving the Net-Zero Transition
22 June 2022 – by Viktor Tachev
The green energy companies paving the way for the renewable energy industry are growing. These energy transition companies are working on multiple renewable energy projects across the globe. Yet, more often than not, countries gobble up attention related to renewable energy.
However, progress is made possible and boosted also thanks to the efforts of sustainable energy companies. This is no easy task, though, as these companies bear the largest burdens like business disruptions, restricting regulations and public opposition. Against the odds, a handful of companies have now struck a balance when responding to challenges. They are now considered as some of the best energy companies by investors, governments and public alike.
Top Green Energy Companies in 2022
Nextera Energy and its Projects in Solar Energy and Solar Panels
NextEra Energy is the world’s largest wind and solar energy producer and is the largest renewable energy company by market cap. It owns over 9,500 wind turbines and generates great amount of solar energy. Its current portfolio includes 21.9 GW of generation capacity in the US and Canada – enough to power Belgium. With existing investments in wind turbines, solar plants, and renewable energy topping USD 83 billion, Nextera Energy plans to add USD 55 billion by 2022. One of their major aims is to install 30 million new solar panels in the US by 2030.
Fortune ranks NextEra Energy in their companies that “change the world” list. Consequently, it is ranked as one of the best energy transition companies on the market.
Denmark-based energy company Orsted engages in procuring, producing, distributing, and trading energy-related products globally. The company works across Europe and now has projects in the US and Asia. It’s a major European company with huge room for growth in the renewable energy market.
Orsted turned heads when it transformed from an oil and gas company to one of the globe’s most sustainable green energy companies. Today, Orsted generates 11 GW in renewable energy and runs about a quarter of the globe’s offshore wind farms. It plans to double capacity by 2025 and work with oil majors to develop a low-carbon hydrogen market.
Spain’s Iberdrola works across the globe. Originally, Iberdrola’s focus lay on hydroelectric dams and onshore wind farms. Today, its is shifting to other green energy solutions and is investing in green hydrogen and electric vehicle chargers. The European Commission ranked Iberdrola as one of the leading private utility companies in Europe. Globally, it ranks as second by investments and research and development.
Enel is Europe’s largest energy utility company, with the Italian-based giant’s green energy arm operating worldwide. While significant portions of the company’s energy generation still rely on fossil fuels like coal, oil and gas, Enel has pledged to reduce its dependence on fossil fuels drastically. For example, the company states that it will shut down all coal operations by 2027.
A leader in the solar energy photovoltaic industry, China’s JinkoSolar runs nine production facilities globally and has 22 subsidiary companies worldwide. The company runs both a manufacturing arm as well as a solar power projects sector. Linked to its value chain are energy capacities reaching 27 GW from mono wafers, 12 GW from solar cells and 31 GW from solar modules.
JinkoSolar is now selling its products and services to international utility companies, along with commercial and residential customers worldwide.
Other Renewable Energy Companies
Other outliers, but no less important, are regional companies like Adani Green Energy Limited. While rarely making headlines, AGEL’s impact and operations in India cannot be ignored – its total renewable energy portfolio is reaching almost 14,000 MW. In China, China Energy Investment Corp. is experiencing a significant jump in installed renewable capacity, reaching 40 GW. However, coal is still a considerable part of its business. Others raising attention are the likes of Brookfield Renewable Partners, AC Energy and other international consortiums all in the business of becoming sustainable energy companies.
Best Energy Companies Leading the Renewable Energy Industry and Energy Transition
With the world already set on a renewable energy path, the companies listed here will likely pave the way. One of the reasons for their successes is that they are more likely to have science-based strategies, followed by climate-related financial disclosures that influence the entire energy industry.
On the other hand, companies forcefully made to review their climate-risk strategies from regulations and disclosure requirements are likely to lose out. This will attract public scrutiny, criticism and a loss of competitiveness in adapting to a new energy standard. The green energy companies that do, however, embrace a proactive climate-friendly approach are quickly becoming the leaders of tomorrow.
by Viktor Tachev
Viktor has years of experience in financial markets and energy finance, working as a marketing consultant and content creator for leading institutions, NGOs, and tech startups. He is a regular contributor to knowledge hubs and magazines, tackling the latest trends in sustainability and green energy.Read more