Industrial Automation checks some leading providers of renewable energy solutions and a few startups leading the way towards a greener world.

The need for renewable energy is growing at a rapid pace all across the world. It has become a necessary source of power in many regions of the world. Reports show that renewable energy is the fastest-growing energy source in the US, growing 42% from 2010 to 2020. Companies in this sector offer a variety of renewable sources of energy such as wind, solar, hydropower, bioenergy, and geothermal.

The adoption of renewable energy is rising thanks to the increasing developments in technology, resulting in the decline in costs of renewable sources of energy. Here we have listed the top 10 renewable energy companies in India and abroad to watch out for in 2024. We have also covered some of the popular Startups within the sector that are leading their way towards making a sustainable, greener world.

1. Adani Green Energy Limited

As one of the largest renewable companies in India, Adani Green Energy Limited (AGEL) has a current project portfolio of 20,434 MW. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. AGEL has recently operationalised the first 551 MW solar capacity at Khavda, started supplying to the national grid.

2. Tata Power Renewable Energy Limited

TPREL is a wholly owned subsidiary of The Tata Power Company Limited (Tata Power), which is the largest integrated power utility in India. TPREL develops, builds and operates wind and solar power assets. The company’s operating capacity is 1839 MW, of which 907 MW is Wind Power and 932 MW is Solar Power. TPREL has plants across India.

3. General Electric

General Electric (GE) is an American multinational conglomerate. The company has various divisions. GE Vernova is one of its divisions through which GE deals with renewable energy. As an energy equipment manufacturing and services company, GE Vernova’s technology base helps generate approximately 30% of the world's electricity. The company aims to bring carbon neutrality in its facilities and operations by 2030.

4. JSW Energy

Headquartered in Maharashtra India, JSW Energy is one of the leading power companies in the world. The company currently generates 6,677 MW, out of which 3,158 MW is thermal power, 1,391 MW is hydropower, 1,461 MW wind and 667 MW solar power. Apart from its presence across several Indian states, JSW Energy has stakes in natural resource companies in South Africa.

5. SunPower Corporation

Founded in 1985, SunPower Corporation is a leading residential solar company that deals in storage and energy services in North America. The company is also an industry leader in solar sustainability and social responsibility.

6. Siemens Gamesa Renewable Energy

As one of the leading companies in the renewable energy sector, Siemens Gamesa Renewable Energy offers offshore and onshore wind turbines and services. With its RecyclableBlade, the first product to offer a comprehensive recyclable solution, the company is leading the way for a sustainable future.

7. Vestas Wind Systems

A significant player in wind energy technology Vestas Wind Systems has 4MW and 2MW platforms in India. The company designs and develops advanced wind turbines that use the power of the wind to generate electricity. Vestas Wind Systems provides a range of different offerings ranging from service to training, and work in close collaboration with its customers to help them find the optimum solution for operating their wind power plant.

8. KPI Green Energy

Formerly known as KPI Global Infrastructure Limited, KPI Green Energy Limited is a prominent solar and hybrid power generating company based in Gujarat, India. The company develops, builds, owns, operates and maintains solar and hybrid power plants through as an Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP) under the brand name of 'Solarism'.

9. OneEnergy Renewables

Another one of the renewable energy companies is OneEnergy Renewables. It develops community and utility-scale solar energy projects in North America. The company’s local, hands-on, and personable approach fosters widespread access to affordable clean energy. In the beginning of the year, OneEnergy received the Community Power Accelerator Prize from the U.S. Department of Energy (DOE).

10. Enel Green Power

Enel Green Power manages more than 1,300 power plants on five continents and has a presence with assets in operation or under construction in 20 countries. It provides long-term energy supply contracts (Physical PPA and Virtual PPA) and innovative green hydrogen systems for companies.

Ten renewable energy startups learning towards a sustainable, greener world

The startup world has come up with innovative ideas to power existing renewable energy technology, leading the way to a sustainable world. These startups are focusing on solar, biomass power generation, waste management, smart homes, electric vehicles, and other clean energy solutions.

These companies and startups from across the world operate in the niche segment of the energy industry, focusing on clean and renewable energy sources.

Leading towards the greener world

Renewable energy sources are available in almost all countries around the world. However, their potential is yet to be fully utilised. According to the International Renewable Energy Agency (IRENA), 90 per cent of the world’s electricity can and should come from renewable energy by 2050.

Renewable energy is important because it is:

• Cost-effective
• Environmental friendly
• Healthier
• Economically viable
• Inexhaustible source of energy, and
• Reliable and resilient.

In essence, renewable energy is the future. Its significance cannot be overstated in today’s rapidly evolving energy landscape. The companies and startups within the renewable energy sector can benefit from global trends to go green. So, as renewable energy evolves as the alternative for a sustainable future, Industrial Automation believes that more and more companies will come up with innovative ideas and solutions to meet the aim of global net zero emissions.

References:

1. https://www.un.org/en/climatechange/raising-ambition/renewable-energy

2. https://www.iea.org/reports/global-energy-review-2021/renewables

3. https://www.smallcase.com/collections/what-are-green-energy-stocks-and-renewable-energy-stocks-in-india/

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