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15 Biggest Renewable Energy Companies in Europe

In this article, we will take a look at the 15 biggest renewable energy companies in Europe. If you want to skip our detailed analysis, go directly to 5 Biggest Renewable Energy Companies in Europe.

According to a report by the European Environment Agency, the region has been significantly advancing in using renewable energy sources. The government and private sector alike have been consistently making investments to push the renewable energy sector to new heights. The European Union achieved its 20% renewable energy target in 2020, and as of 2022, 22.5% of the energy consumed in the EU came from renewable sources. The region aims to achieve carbon neutrality by 2050.

The Role of the Tech Giant: Amazon

European countries have been investing significantly to push the use of renewable energy across the region. Such explains why large tech companies such as Amazon.com, Inc. (NASDAQ:AMZN) follow suit by attributing resources to the sector in Europe. On October 23, Amazon.com, Inc. (NASDAQ:AMZN) announced adding 39 new renewable energy projects in Europe in 2023 alone. Amazon.com, Inc. (NASDAQ:AMZN) has installed 160 wind and solar power projects across 13 countries in Europe so far. Once all the projects are complete and operational, the portfolio will provide 5.8 gigawatts of clean energy to over 4.7 million European households yearly.

The new portfolio of 39 projects entails the installation of almost 15 rooftop solar projects and 24 wind and solar projects, which also encompasses the establishment of the first solar farm in Greece. The solar farm in Greece follows the same scale as the solar farm established in Poland last year. Previously, in 2022, these projects by Amazon.com, Inc. (NASDAQ:AMZN) have supported over 3,900 full time jobs and contributed more than EUR 723 billion to the region’s gross domestic product between 2014 and 2022.

Notable Names in the European Renewable Energy Industry

Some of the notable pure play renewable energy companies in Europe include Fusion Fuel Green PLC (NASDAQ:HTOO), Atlantica Sustainable Infrastructure plc (NASDAQ:AY), and Iberdrola, S.A. (OTC:IBDRY). You can also check out some of the best renewable companies energy 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 engages in the production of green hydrogen in Portugal, Spain, and Morocco. Fusion Fuel Green PLC (NASDAQ:HTOO) focuses on providing hydrogen generators to its clients to help them 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 tech domain with Elemental. This 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 that is 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, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. On May 4, Atlantica Sustainable Infrastructure plc (NASDAQ:AY) and Akuo announced the construction of nine photovoltaic plants in Chile. The portfolio of these 9 plants has a total capacity of 80 MW. The plants together can provide electricity to power 60,000 homes and prevent CO2 emissions of over 60,000 tonnes.

Iberdrola, S.A. (OTC:IBDRY) is a renowned 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, S.A. (OTC:IBDRY) generates electricity using renewable sources. On November 11, Iberdrola, S.A. (OTC:IBDRY) signed a strategic agreement with Masdar, a renewable energy group based in Abu Dhabi. The two companies plan to co-invest in the 476 MW Baltic Eagle offshore wind farm in the German Baltic Sea. Iberdrola, S.A. (OTC:IBDRY) will have a 51% stake in this project to enhance European energy independence. The total valuation of the project is worth EUR 1.6 billion. Iberdrola, S.A. (OTC:IBDRY) will be responsible for the management of assets and will provide maintenance services.

Let’s now look at the 15 biggest renewable energy companies in Europe.

15 Biggest Renewable Energy Companies in Europe

Our Methodology

To compile a list of the 15 biggest renewable energy companies in Europe, we conducted thorough research that involved studying industry reports to enlist renewable companies across Europe and using the Yahoo Finance and Finviz stock screeners. To make our list more comprehensive, we also included energy companies with large renewable energy capabilities. We then ranked our pure-play public companies based on the market capitalization as of November 4, 2023, and privately listed companies based on their most recent sales revenue figure available.

We sourced market capitalization from Yahoo Finance and sales and revenue from official company reports. The list of the 15 biggest renewable energy companies in Europe is in ascending order of their market capitalizations, as of November 4, 2023, and the latest available revenue.

It is to be noted that the revenue in EUR was converted to USD according to the exchange rate on November 4, 2023.

15 Biggest 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 managing renewable energy and other power and water electricity sources. It is one of the biggest 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, S.A. (OTC:IBDRY) are some of the leading pure-play renewable energy companies in Europe.

14. Acciona, S.A. (OTC:ACXIF)

Market Cap as of November 4, 2023: $7.46 Billion

Acciona, S.A. (OTC:ACXIF) is a renewable energy company based in Spain. The company produced 23,910 GW in 2022 and prevented 13.4 million tonnes of C02 through renewable generation. Acciona, S.A. (OTC:ACXIF) reported revenue worth 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 reported a 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. Siemens Energy AG (OTC:SMNEY) has a market cap of $8.11 billion as of November 4, 2023.

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 an annual revenue of EUR 8.8 billion in 2022. Fortum Oyj (OTC:FOJCY) provides wind power, solar power, 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 offers hydrogen generators and monitoring services to its clients. Fusion Fuel Green PLC (NASDAQ:HTOO) has a market cap of $12.03 billion as of November 4, 2024, and is one of the biggest 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 energy, floating offshore wind, renewable hydrogen, onshore wind energy, solar and storage, and bioenergy. Ørsted A/S (OTC:DNNGY) reported an annual revenue of DKK 132.3 billion in 2022.

9. Repsol, S.A. (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 energy, photovoltaic solar energy farms, and wind energy. The company also has 12 hydropower plants, 2 combined gas cycles, and 1 wind farm. So far, Repsol, S.A. (OTC:REPYY), has installed a capacity of 3,870 MWm with a goal of 6 GW to be achieved 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 reported a revenue of EUR 14.5 billion in 2022. Vestas Wind Systems A/S (OTC:VWDRY) has generated over 169 GW of wind power capacity in almost 88 countries, as of June 30, 2023.

7. Engie 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 specializes in various domains including electricity generation, natural gas management, renewable energy, and petroleum management to name a few. The company has a large renewable energy capability engaging in wind energy, solar energy, geothermal energy, biomass, biogas, and hydrogen. Engie SA (OTC:ENGQF) reported annual sales revenue of EUR 93.9 billion in 2022. 

6. Eni S.p.A. (NYSE:E)

Market Cap as of November 4, 2023: $53.34 Billion 

Eni S.p.A. (NYSE:E) is a leading energy company based in Rome, Italy. The company has large stakes in renewable energy. Plenitude, a benefit company, by Eni S.p.A. (NYSE:E), engages in the production of renewable energy efficiency and electric mobility. The company has a market cap of $53.34 billion as of November 4, 2023.

Fusion Fuel Green PLC (NASDAQ:HTOO), Atlantica Sustainable Infrastructure plc (NASDAQ:AY), and Iberdrola, S.A. (OTC:IBDRY) offer renewable solutions across the globe.

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Disclosure: None. 15 Biggest Renewable Energy Companies in Europe is originally published on Insider Monkey.

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