Top 10: Renewable Energy Sources

The energy landscape is undergoing a major shift as governments navigate net-zero targets and aim for lasting energy independence. 

​Urgent climate action and volatile fossil fuel prices are speeding the transition, and the need for reliable, sustainable solutions is critical. Renewable energy sources are central in paving the way to full decarbonisation. 

This transformation demands innovation, from the broad deployment of solar PV and onshore wind to advanced options such as geothermal and marine energy. 

Here, we detail installed renewable capacity, redefining the world's energy mix and highlight the companies leading the way to a more sustainable future.

Concentrated solar power (CSP) systems use mirrors or lenses to concentrate sunlight onto a small area, converting it into high-temperature heat to generate electricity, often using molten salt for storage. Mostly found in regions of high irradiation such as China, the Middle East and Africa.

ACWA Power is a prominent private developer, investor and operator with more than 70 projects in power generation and water desalination across Saudi Arabia and a key leader in the Middle East’s energy transition.

8. Geothermal

• Installed Capacity: 15,674 MW
• Company in Focus: ENGIE
• Founded: 2008
• Key Executive: Daxita Rajcoomar‏, Chief Sustainability Officer for ENGIE AMEA

Interest in geothermal power has surged. Recent energy price shocks have made all generation options more viable. Improvements in drilling technology have also lowered costs. A key advantage of geothermal energy is its ability to provide reliable baseload power. 

ENGIE, a French energy firm, is expanding its geothermal projects globally, with a particular focus on district heating and cooling. In 2023, Tabreed, which is 40% owned by ENGIE, launched the Middle East’s first geothermal-powered district cooling plant.

7. Offshore Wind

Some 9.3GW of new offshore wind capacity was grid-connected in 2025, bringing the total installed to over 90GW – a huge achievement since the first wind turbine dipped its toes into the icy Danish waters in 1991. 

Denmark’s Ørsted leads offshore wind development globally, with over 10GW installed across three continents. As a pioneer in the offshore wind sector, in 1991, Ørsted commissioned the world’s first offshore wind farm near Vindeby, a town named for its windy conditions.

2025 was a crucial year for bioenergy, influenced by significant policy shifts and ambitious sustainability goals. The implementation of SAF requirements in Europe, the increase in advanced biofuel targets and stricter feedstock supply are redefining demand, prices and investment strategies throughout the sector. 

Chevron invests in renewable fuels through its Chevron Renewable Energy Group. Through this, Chevron offers lower‑carbon solutions such as biodiesel, renewable diesel, fuel blends, renewable compressed natural gas and hydrogen for road, rail, marine and mining sectors. 

5. Pumped Hydro

With the growing needs for storage and grid services, pumped hydro technology is a leading large-scale storage solution. It provides a variety of services, including frequency control, inertia and black-start capabilities – support previously provided by fossil-fueled power plants.

GE Vernova specialises in equipment for pumped-storage plants, offering turbines, generators, and the electrical balance-of-plant. GE Vernova is investing US$9bn in R&D through 2028 to support electrification, renewable innovation and the growing demands of AI data centres.

4. Battery storage

Battery energy storage, while not an energy generator, enables growth in clean power by capturing energy from variable renewable sources like solar and wind when they are abundant, for use during periods of scarcity. 

CATL dominates the battery industry with over 36% market share in 2025. Supplying Tesla, Fluence and Sungrow, its R&D advances include higher-density, longer-life LFP cells. Its extensive scale and global supply chain make CATL a key driver of the energy transition.

3. Onshore Wind

Onshore wind remains a pivotal renewable energy source and one of the most widely used generation technologies. With nearly 1.2TW of installed capacity, it is found across every continent, bringing jobs and clean energy to local communities. 

As the world's largest electric utility holding company, NextEra Energy is responsible for about 58GW of generating capacity, including 22GW of onshore wind, and a long pipeline including solar and storage projects.

2. Hydropower

Hydropower has existed for over a century and was the main source of renewable electricity until 2025. Its capacity growth has slowed recently due to a limited number of suitable sites. Still, it remains the largest renewable energy source worldwide, providing 14.3% of global electricity and enhancing power system flexibility in more than 150 countries.

Additionally, hydropower is often combined with solar energy to improve overall output efficiency. 

The world’s largest hydroelectric power plant, the 22.5GW Three Gorges Dam, was built and is operated by China Yangtze Power, a subsidiary of China Three Gorges Corporation (CTG). CTG has evolved into a global clean energy powerhouse.

By the end of 2023, CTG’s total installed power capacity reached 146 GW, with a business presence in nearly 20 countries and regions across Africa, Latin America, Europe and Southeast Asia, of which 96% was from clean energy.

Solar photovoltaic (PV) has become the cheapest renewable energy source in the world, driven by technological advances alongside growing domestic and utility-scale demand. Volatile power prices have pushed consumers and businesses towards more dependable, local solutions.

The IEA forecasts capacity to nearly triple to 1,500 GW, surpassing natural gas by 2026 and coal by 2027, making it the world’s largest single technology source, with annual additions increasing over the next five years.

Arizona-based First Solar is one of the few leading solar technology providers headquartered in the United States. Its core technology is rooted in advanced thin-film semiconductor innovation.

The company has set a goal to power all its global manufacturing with renewable energy by 2028 and aims for complete climate neutrality by 2050. Its manufacturing energy intensity has fallen 23% below its 2020 baseline.