Adani Green Energy moved up from third place to first while displacing 2024 winner China National Nuclear Corp, now ranked No. 4.
Adani's renewables company is one of two Indian firms in the top 10 and one of six in the top 100, up from only one Indian company in the original 2011 ranking.
The ranking of the world's top green power generators is part of UK-based Energy Intelligence's Low-Carbon Energy service, and is based on companies’ renewable energy portfolios and their greenhouse gas emissions.
"We have now the policy architecture and economics that work, so consequently the whole energy transition is now an economic push," Adani Group CFO Jugeshinder ('Robbie') Singh told Energy Intelligence.
"There is an economic rationale that exists within the supply of green electrons. It will happen,” he mentioned.
The ranking's top 10 confirms a marked switch in the global energy transition to Asia: 50 per cent of the companies are from Asia — the two Indian companies, plus three Chinese companies. European firms make up the rest of the top 10.
Also, CO2 emissions from generators in the ranking fell by 6 per cent last year, less than the 9 per cent drop in 2023 but more than during the previous decade, when declines typically ran at 3 per cent-4 per cent per year.
"As the world moves into the Age of Electricity, power companies are increasingly investing in new renewable capacity, primarily wind and solar, as the lowest cost new generation option," said James Cockayne, managing editor of Energy Intelligence.
"This is particularly true in Asia, which is taking the reins of the global energy transition. This can be seen in the shifting composition of the companies in the world's Top 100 Green Utilities,” Cockayne mentioned.
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