Top 10 Renewable Energy Giants in 2025: Revenue and Market Insights

The renewable energy sector is rapidly transforming from a niche market into a global powerhouse, fueled by increasing demand for clean and sustainable power solutions.

These top 10 renewable energy corporations lead the way in offering diverse clean energy technologies such as solar, wind, hydroelectric, geothermal, and biomass. Headquartered across Spain, Denmark, China, the U.S., and Canada, these companies are pivotal in shaping the future of energy.

This ranking is based on trailing twelve-month (TTM) revenue figures, with data sourced from Morningstar as of July 2024 and converted to U.S. dollars where applicable. It includes companies publicly traded in the U.S. or Canada, including those available through ADRs and some over-the-counter (OTC) stocks.

Key Highlights

• Renewable energy is rapidly expanding as a crucial power source globally.
• Leading firms are primarily based in Spain and Denmark, with significant presence in China, the U.S., and Canada.
• Spanish energy giant Iberdrola tops the revenue charts among renewable energy companies.
• Some companies report net losses due to the industry's developmental nature.

1. Iberdrola SA (IBDRY)

• Revenue (TTM): $50.68 billion
• Net Income (TTM): $6.62 billion
• Market Cap: $79.91 billion
• 1-Year Trailing Return: 4.47%
• Exchange: OTC

Based in Spain, Iberdrola is a global leader in clean electricity generation, specializing in wind (onshore and offshore), solar photovoltaic, pumped hydro, and battery storage. Its operations span the U.S., U.K., Mexico, Brazil, and several other countries.

2. GE Vernova (GEV)

• Revenue (TTM): $33.67 billion
• Net Income (TTM): -$355 million
• Market Cap: $44.26 billion
• Exchange: NYSE

Spun off from General Electric in April 2024, GE Vernova focuses on sustainable electricity generation and decarbonization, aiming for full carbon neutrality by 2030. Its portfolio includes wind, solar, hydro, and gas energy.

3. NextEra Energy (NEE)

• Revenue (TTM): $27.13 billion
• Net Income (TTM): $7.49 billion
• Market Cap: $147.95 billion
• 1-Year Trailing Return: -1.92%
• Exchange: NYSE

NextEra is a diversified energy company and one of the world's largest producers of wind and solar power, alongside nuclear and natural gas generation. It serves wholesale customers including municipalities and industrial sectors.

4. Constellation Energy Corp. (CEG)

• Revenue (TTM): $23.51 billion
• Net Income (TTM): $2.41 billion
• Market Cap: $59.13 billion
• 1-Year Trailing Return: 120.14%
• Exchange: Nasdaq

Headquartered in Baltimore, Constellation provides diverse energy services including nuclear, electric, and natural gas. It is recognized as the largest carbon-free energy producer in the U.S.

5. Vestas Wind Systems A/S (VWDRY)

• Revenue (TTM): $16.58 billion
• Net Income (TTM): -$10 million
• Market Cap: $23.22 billion
• 1-Year Trailing Return: -12.84%
• Exchange: OTC

Denmark’s Vestas is a premier developer and manufacturer of wind turbines and related services, with installations worldwide supporting the global wind energy transition.

Industry Outlook

The U.S. Energy Information Administration forecasts wind and solar will spearhead power generation growth in the U.S. through 2026, with coal generation expected to decline by 18% by 2025 compared to 2023.

6. Jinko Solar Holding Co. Ltd. (JKS)

• Revenue (TTM): $16.29 billion
• Net Income (TTM): $450 million
• Market Cap: $1.07 billion
• 1-Year Trailing Return: -49.93%
• Exchange: NYSE

China-based Jinko Solar manufactures solar cells, modules, and integrated solar systems, serving a global customer base across multiple continents.

7. Canadian Solar Inc. (CSIQ)

• Revenue (TTM): $7.24 billion
• Net Income (TTM): $203 million
• Market Cap: $1.08 billion
• 1-Year Trailing Return: -61.88%
• Exchange: Nasdaq

Canadian Solar designs and produces photovoltaic modules, operates solar projects, and offers maintenance services, with clients in over 160 countries worldwide.

8. Brookfield Renewable Corp. (BEPC)

• Revenue (TTM): $4.02 billion
• Net Income (TTM): N/A
• Market Cap: $5.11 billion
• 1-Year Trailing Return: -5.57%
• Exchange: NYSE

Brookfield Renewable owns and manages a global portfolio of renewable power assets with a focus on hydroelectric, wind, solar, distributed generation, and energy storage.

9. Algonquin Power & Utilities Corp. (AQN)

• Revenue (TTM): $2.65 billion
• Net Income (TTM): -$339 million
• Market Cap: $4.06 billion
• 1-Year Trailing Return: -24.46%
• Exchange: NYSE

Operating out of Ontario, Algonquin offers regulated utility and renewable energy services to over one million customers, focusing on natural gas, water, electricity, and clean energy investments.

10. Daqo New Energy Corp. (DQ)

• Revenue (TTM): $2.01 billion
• Net Income (TTM): $166 million
• Market Cap: $1.09 billion
• 1-Year Trailing Return: -63.22%
• Exchange: NYSE

Daqo New Energy is a Shanghai-based polysilicon manufacturer supplying solar power components worldwide, operating one of the most cost-efficient production facilities in the industry.

Profitability in Renewable Energy

Due to significant capital investments and the industry’s evolving nature, profitability varies widely, with some companies posting net losses while others demonstrate strong earnings.

Global Leadership in Renewable Energy

China leads in solar power installations, outpacing all other countries combined, highlighting its dominant role in the renewable energy landscape.

Market Capitalization Leader

NextEra Energy holds the highest market capitalization among renewable energy firms, valued at approximately $147.7 billion as of July 2024.

Conclusion

With increasing climate concerns, the renewable energy sector is poised for sustained growth. The companies featured here are at the forefront, advancing diverse clean energy technologies and significantly raising the share of renewables in global power production.

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