October 2026
Largest Renewable Energy Public Companies in the US
Benchmark revenue and EBITDA valuation multiples for public comps like
GE Vernova, Constellation Energy, Vistra, First Solar and Nextracker.
 | GE Vernova is a global leader in the electric power industry, with products and services that generate, transfer, convert, and store electricity. The company has three business segments: power, wind, and electrification. Power includes gas, nuclear, hydroelectric, and steam technologies, providing dispatchable power. The wind segment includes wind generation technologies, including onshore and offshore wind turbines and blades. Electrification includes grid solutions, power conversion, electrification software, and solar and storage solutions technologies required for the transmission, distribution, conversion, and storage of electricity from the point of generation to the point of consumption. | $921 | +57% | $245B | $236B | 6.2x | 73.2x | ||
| Constellation Energy Corp producer of carbon-free energy and a supplier of energy products and services. The company offers generating capacity that includes nuclear, wind, solar, natural gas, and hydroelectric assets. It sells electricity, natural gas, and other energy-related products and sustainable solutions to various types of customers, including distribution utilities, municipalities, cooperatives, and commercial, industrial, public sector, and residential customers in markets across multiple geographic regions. Its operating segments and reporting units are Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. | $271 | -28% | $96B | $120B | 4.7x | 24.1x | ||
| Vistra Corp. is one of the largest power producers and retail energy providers in the US. It owns 44 gigawatts of generation capacity, including natural gas (27 GW), nuclear (6.5 GW), coal (8.7 GW), and solar and battery storage (1.3 GW). The Cogentrix acquisition will add 5.5 GW of gas generation. Vistra's retail electricity business serves 5 million customers in 20 states, including almost a third of all Texas electricity consumers. Vistra emerged from the Energy Future Holdings bankruptcy as a stand-alone entity in 2016. | $152 | -19% | $51B | $73B | 4.1x | 14.5x | ||
| First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world’s largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India. | $173 | -35% | $19B | $17B | 3.3x | 8.2x | ||
| Nextpower (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextpower's products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. Nextpower has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil. | $80 | -21% | $12B | $11B | 3.1x | 14.6x | ||
| Darling Ingredients Inc is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a wide range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, animal feed, industrial, fuel, bioenergy and fertilizer industries. It processes by-products from the animal agriculture and food industries into ingredients and products for human nutrition, animal feed, crop inputs, and renewable energy applications. The company operates processing facilities across multiple countries and produces collagen, including gelatin and hydrolyzed collagen, as well as renewable energy products. | $61 | +91% | $9.7B | $14B | 2.2x | 17.4x | ||
| Ormat Technologies Inc is engaged in the geothermal and recovered energy power business. It is engaged in three business segments: Electricity Segment. where the company develops, builds, owns and operates geothermal, solar PV and recovered energy-based power plants in the United States and geothermal power plants in other countries and sell the electricity generated. Product Segment includes designing, manufacturing and selling equipment for geothermal and recovered energy-based electricity generation and providing services relating to the engineering, procurement and construction of geothermal and recovered energy-based power plants. Energy Storage Segment includes owning and operating grid-connected which provide capacity, energy and ancillary services directly to the electric grid. | $89 | -16% | $5.5B | $8.5B | 8.6x | 16.0x | ||
| Brookfield Renewable is a globally diversified, multitechnology owner and operator of clean energy assets. The company’s portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia, and totals over 40 gigawatts of installed capacity. Brookfield Renewable invests in assets directly, as well as with institutional partners, joint venture partners, and through other arrangements. The company offers two separate listings for investors: Brookfield Renewable Partners LP and Brookfield Renewable Corp. | $29 | -34% | $5.3B | $30B | 8.1x | 72.0x | ||
| SOLV Energy Inc is a provider of infrastructure services to the power industry, including engineering, procurement, construction, testing, commissioning, operations, maintenance and repowering. It specializes in designing, building and maintaining utility-scale solar and battery storage projects and related T&D infrastructure. The company's projects include: The Eldorado Solar Project, Gravel Pit Solar Project, and Vikings Solar-plus-Storage Project. It operates in one reportable segment which derives revenue through providing EPC, O&M and Development services throughout the Unites Sates. The company derives maximum of revenue from its EPC contracts. | $24 | -- | $4.8B | $4.9B | 2.0x | 17.3x | ||
| Solaris Energy Infrastructure Inc provides modular and scalable equipment-based solutions for power generation, control, distribution, and the management of raw materials in oil and natural gas well completions. Its solutions are Solaris software suite, Fluid management system, Automated control systems, Field services, Last mile logistics management, Wet sand solutions, Power Solutions, and Integrated wellsite solution, among others. Solaris serves multiple U.S. end markets, including data center, energy, and other commercial and industrial sectors. The company has two reportable business segments: Solaris Power Solutions and Solaris Logistics Solutions. Maximum revenue is generated from the Solaris Power Solutions segment, delivering power generation and distribution solutions. | $63 | +29% | $4.1B | $6.1B | 9.8x | 34.1x | ||
| Enphase Energy is a global energy technology company. It delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Enphase derives a majority of revenue from the United States. | $31 | +0% | $4B | $3.7B | 2.5x | 16.2x | ||
| Clearway Energy Inc is a publicly-traded energy infrastructure investor with a focus on investments in clean energy and the owner of modern, sustainable, and long-term contracted assets across North America. The company segments its operations into Flexible Generation, Renewables & Storage, and Corporate divisions. The majority of its revenue is generated from the Renewables & Storage segment. | $30 | -4% | $3.6B | $17B | 11.9x | 16.0x | ||
| Andersons Inc is an agriculture and renewable fuels company. Its operations are classified into two reportable business segments: Agribusiness, which generates maximum revenue, and Renewables. The Agribusiness segment includes merchandising and managing logistics across various commodities, as well as being a manufacturer, distributor, and retailer of agricultural and related plant nutrients. The segment specializes in the movement of physical commodities such as whole grains, grain products, feed ingredients, and domestic fuel products, among other agricultural commodities. The Renewables segment mainly produces, purchases, and sells ethanol and co-products. Geographically, the company generates maximum revenue from the United States, followed by Canada, Mexico, and other markets. | $65 | +39% | $2.2B | $3.1B | 0.3x | 9.8x | ||
| SolarEdge Technologies designs, develops, and sells direct current optimized inverter systems for solar photovoltaic installations. The company system consists of power optimizers, inverters, and cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations. The company sells its products directly to solar installers, engineering, procurement, and construction firms and indirectly to solar installers through distributors and electrical equipment wholesalers. | $31 | -10% | $1.9B | $1.8B | 1.5x | (4.9x) | ||
| Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed by Sunrun or by Sunrun’s partners and are owned by the company. Sunrun’s customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers. | $7 | -65% | $1.8B | $18B | 6.1x | 33.0x | ||
| REX American Resources Corp operates as a holding company, which engages in investment in alternative energy and ethanol production entities. Its operating segments include Ethanol and By-Products. Its products include dried distillers grains, modified distillers grains, and non-food grade corn oil. | $42 | +30% | $1.4B | $1.1B | ||||
| Shoals Technologies Group is an American manufacturer of electrical balance of system (EBOS) products headquartered in Portland, Tennessee. EBOS is the power infrastructure that carries electricity safely from solar modules and batteries to the grid, and Shoals sells plug-and-play EBOS systems that reduce materials, installation labor and maintenance touchpoints on site. Its customers are the engineering, procurement and construction firms, developers and owners that build utility-scale solar, battery energy storage and, more recently, data center power systems. Shoals earns revenue from product sales made through in-house manufacturing, holds 75 patents and says about 100 GW of projects using its systems are under contract, in construction or operating. The company was founded in 1996 as a component supplier to the automotive industry and moved into solar in 2002, first supplying components to First Solar and later cable harnesses to solar EPC contractors. It listed on Nasdaq (SHLS) through an initial public offering on January 27, 2021. Brandon Moss has been chief executive since July 2023, and Dominic Bardos has been chief financial officer since October 2022. | $7 | -32% | $1.2B | $1.4B | ||||
| XPLR Infrastructure LP is formed to acquire, manage, and own contracted clean energy projects. It owns interests in wind and solar projects in North America, and natural gas infrastructure assets in Texas. The Renewable energy assets of the company consist of wind, solar, and solar-plus-storage projects and a stand-alone battery storage project, as well as contracted natural gas pipeline assets. | $10 | +1% | $937M | $14B | ||||
| Canadian Solar Inc is a Canadian solar technology and renewable energy company. It is a manufacturer of solar photovoltaic modules, a provider of battery energy storage solutions, and a developer of utility-scale solar power and battery energy storage projects. The company is organized in two segments: Manufacturing segment, comprising CS PowerTech, which focuses on manufacturing and sales of solar products, battery energy storage products, and other power technology products for the U.S. market and CSI Solar, which serves all other world-wide markets; and Recurrent Energy segment, which focuses on solar power and battery storage project development, asset sales, power services, and electricity revenue from its operating portfolio. It derives maximum revenue from Manufacturing segment. | $10 | -53% | $666M | $8.7B | ||||
| Hyliion Holdings Corp provides solutions that enable clean, flexible, and affordable electricity production. The Company focuses on delivering distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. It is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. In addition to stationary power solutions, it focuses on mobile applications, including vehicles and marine technologies. | $3 | +29% | $545M | $484M | ||||
| Array Technologies Inc manufacturer of ground-mounting systems used in solar energy projects. The company's segments include: the Array legacy operating segment (Array Legacy Operations) and the STI Operations operating segment (STI Operations). It derives maximum revenue from the Array legacy operating segment. Its product is an integrated system of steel supports, electric motors, gearboxes, and electronic controllers referred to as a single-axis tracker that moves solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Geographically, the company's operations are in the United States, Australia, Spain, Brazil, and the rest of the world, with the United States deriving the majority of the revenue. | $3 | -60% | $528M | $1.5B | ||||
| Energy Vault Holdings Inc is a diversified portfolio of energy storage solutions to third parties, including proprietary gravity, battery, and green hydrogen-based technologies, supported by technology-agnostic energy management software and integration capabilities. Geographical presence in the United States, Australia, and other countries. The majority of its revenue comes from Australia. | $3 | -17% | $516M | $694M | ||||
| Montauk Renewables Inc is a renewable energy company. It specializes in the recovery and processing of biogas from landfills and other non-fossil fuel sources for beneficial use as a replacement for fossil fuels. The firm develops, owns, and operates RNG projects that supply renewable fuel into the transportation and electrical power sectors. Montauk operates in two segments namely Renewable Natural Gas and Renewable Electricity Generation. It generates a majority of its revenue from the Renewable Natural Gas segment. | $2 | +5% | $305M | $446M | ||||
| Gevo Inc is a next-generation diversified energy company committed to fueling America's future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Its technology can be used to make a variety of renewable products, including sustainable aviation fuel (SAF), motor fuels, chemicals, and other materials that provide U.S.-made solutions. The business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. It owns and operates an ethanol plant with an adjacent CCS facility, Class VI carbon-storage well, and others. The group is currently developing the world's first large-scale ATJ facility to be co-located at the North Dakota site. | $1 | -50% | $289M | $410M | ||||
| Chilean Cobalt Corp is a primary cobalt, secondary copper, junior mining and exploration company. It is a critical materials exploration and development company focused on developing the La Cobaltera project located in Chile’s historic San Juan cobalt district. La Cobaltera is a district-scale opportunity across C3’s 2,635 hectares of 100 percent owned and unencumbered mining property situated in the San Juan District in northern Chile (Atacama Region III), a historic mining district with numerous past-producing mines and excellent infrastructure and accessibility. | $2 | -- | $135M | $132M | ||||
| Renewal Fuels Inc is a diversified business enterprise focused on providing valuable products and services to consumers and businesses in dynamic and emerging sectors. Through its subsidiaries and business sections, it provides financial and management advisory services, and financial technology services to customers in a variety of industries including the legal psilocybin, hemp, and cannabis industry. | $0 | +3218% | $118M | $118M | ||||
| SunPower Inc created a technology platform to offer clean energy products to homeowners. | $0 | -85% | $79M | $213M | ||||
| Broadwind Inc is a precision manufacturer of structures, equipment and components for clean technology and other specialized applications. The company provide technologically high value products to customers with complex systems and stringent quality standards that operate in energy, mining and infrastructure sectors, in the United States of America. It capabilities include heavy fabrications, welding, metal rolling, coatings, gear cutting and shaping, gearbox manufacturing and repair, heat treat, assembly, engineering and packaging solutions. It operates through four operating segments namely Heavy Fabrications, Gearing, Industrial Solutions and Corporate. | $3 | +41% | $78M | $82M | ||||
| Tigo Energy Inc designs solar power conversion and storage products that provide customers with more choice and flexibility. Its mission is to deliver smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Geographically the company generates revenue from EMEA, Americas, and APAC. | $1 | -58% | $63M | $53M | ||||
| Hadron Energy Inc is a nuclear technology company focused on developing factory-fabricated, transportable 10 megawatt-electric (MWe) micro-modular reactors (MMRs) to meet the growing demand for clean, reliable, and affordable power. The company aims to deliver scalable, carbon-free energy solutions that can be rapidly deployed to power a variety of industries, including data centers, industrial facilities, remote communities, government installations and more. The market segments for its proprietary reactor, Hadron Halos, are Data Centers, Industrial Facilities and Heavy Manufacturing, Remote Communities and Critical Infrastructure, and Utilities and Distributed Energy. | Nuclear+2 | $1 | -- | $48M | $25M | |||
| Blue Biofuels Inc is a technology company focused on emerging technologies in the renewable energy, biofuels, and new technologies sectors. It developed a technology system called Cellulose-to-Sugar or CTS, which is a mechanical/chemical dry process for converting cellulose material into sugar for use in the biofuels industry. It can convert any cellulosic material like grasses, wood, paper, farm waste, yard waste, forestry products, energy crops like hemp or King Grass, and the cellulosic portion of municipal solid waste into sugars and lignin, and subsequently into biofuels and bioplastics. This system produces sugar and chemically unmodified lignin among other by-products. The sugar can then be further converted into biofuels and the lignin into bioplastics. | $0 | -- | $35M | $37M | ||||
| Stem Inc is a provider of energy storage systems. The company bundles third-party hardware with its proprietary Athena software to provide customers a turnkey solution. Stem sells its solutions to commercial and industrial customers as well as independent power producers and renewable developers. Its solutions help customers maximize renewable energy generation and help build a cleaner and more resilient grid. The Company operates as one operating segment that is focused exclusively on technology services that transform the way energy is distributed and consumed. | $3 | -82% | $34M | $324M | ||||
| FTC Solar Inc is a provider of solar tracker systems, supported by proprietary software and value-added engineering services. The company's Solar tracker systems move solar panels throughout the day to maintain an optimal orientation relative to the sun, thereby increasing the amount of solar energy produced at a solar installation. It focuses on providing differentiated products, software, and services that maximize energy generation. The company has launched a new mounting solution to support the installation and use of U.S.-manufactured thin-film modules by project owners. The only segment the company is engaged in is the Manufacturing and Servicing of Solar tracker systems. | $2 | -82% | $27M | $41M | ||||
| Spruce Power Holding Corp is an owner and operator of distributed solar energy assets across the United States (the U.S.), offering subscription-based services to home solar assets and customer contracts, making renewable energy more accessible to everyone. The Company's customers are homeowners and the Company's core solar service offerings generate revenues through, the sale of electricity generated by its home solar energy systems to homeowners, third-party contracts to sell solar renewable energy credits (SRECs) generated by the solar energy systems for fixed prices and the servicing of those agreements for other institutional owners of home solar energy systems. | $1 | -52% | $25M | $650M | ||||
| SolarMax Technology Inc is an integrated solar and renewable energy company. It operates in two segments namely the United States and China. The United States business includes the sale and installation of photovoltaic and battery backup systems. China operations consist of operating and maintaining solar farm projects and identifying and procuring solar farm projects for resale to third parties. Some of its products are LG Solar Panels, QCELL Solar Panels, Panasonic Solar Panels, and others. The company generates a majority of its revenue from the Solar energy systems. | $5 | +394% | $23M | $57M | ||||
| Verde Clean Fuels Inc is a renewable energy company specializing in the conversion of synthesis gas, or syngas, derived from diverse feedstocks, such as biomass, MSW, and mixed plastics, as well as natural gas (including synthetic natural gas) and other feedstocks, into liquid hydrocarbons that can be used as gasoline through a proprietary liquid fuels technology, the STG process. | $1 | -70% | $22M | - | ||||
| Bimergen Energy Corp is a renewable energy project developer that enables the clean energy transition and provides critical grid stability via solutions across a range of applications through portfolio of utility-scale Battery Energy Storage System (BESS) and solar development projects. Its portfolio includes approximately 23 development-stage utility-scale BESS projects with a projected total storage capacity of around 1.965 gigawatts (GW) and approximately 13 development-stage solar energy projects expected to generate around 1.640 GW upon completion and operation. | $2 | -76% | $16M | $7M | ||||
| Global Clean Energy Inc is a waste-to-energy alternative fuels company in Texas. The company focuses on technologies and initiatives that promote environmental stewardship and economic growthThe primary business of the group is developing and marketing proprietary technology in waste-to-energy management and feedstock conversion. The company is planning to develop products with algae as the key ingredient. It plans to sell fertilizer and feed for livestock. | $0 | -54% | $14M | $14M | ||||
| SUNation Energy Inc provides households with sustainable solar energy, back-up power and security, control and predictability, and cost savings. The company provides a full range of installation services, including design, engineering, procurement, permitting, construction, grid connection, warranty, monitoring, and maintenance of residential solar energy systems. It also offers battery storage to customers in select markets and serves a limited number of enterprise customers. | $2 | +47% | $13M | $19M | ||||
| Zeo Energy Corp is a vertically integrated provider of residential solar energy systems, other energy-efficient equipment, and related services currently serving customers in Florida, Texas, Arkansas, and Missouri. Its primary business activity is selling and installing residential solar energy systems that homeowners use to supplement the amount of usable electricity required to power their homes. | $0 | -85% | $12M | $43M | ||||
| Ocean Power Technologies Inc provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. It provides ocean data collection and reporting, marine power, offshore communications, and Maritime Domain Awareness System (MDAS) products, integrated solutions, and consulting services. The company offers its products and services to a wide range of customers, including those in government and offshore energy, oil and gas, construction, wind power, and other industries. The company has operations in North and South America, Europe, Asia and Australia. | $1 | +25% | $5M | $8M | ||||
| LIG Assets Inc along with its subsidiaries is engaged in digital media and advertising. The company is also into the development of residential homes under the LIGA brand. It earns revenue from its subsidiaries engaged in advertising. | $0 | +246% | $3M | $3M | ||||
| EdgeMode Inc is a cryptocurrency mining company focused on rapidly growing and deploying data center locations, generating ever-increasing hash rate and Bitcoin production. It provides high-performance computing solutions for a wide variety of industries and stakeholders. | $0 | -99% | $998K | $4M | ||||
| Allied Energy Corp is currently engaged in the exploration and development of oil and gas properties in the state of Texas and the worldwide marketing and sales of Proprietary Brands of Organic fertilizers used by commercial producers of fruits, vegetables, nuts and grains. | $0 | +26% | $492K | $407K | ||||
| Principal Solar Inc is a renewable energy company. It buys, owns, and operates solar power projects. Power generated by the Company can be sold to the power grid through traditional utility companies under long-term fixed or escalating price power purchase agreements. It strategically invests in organizations, people, properties and technologies that create and deliver next-generation opportunities in the renewable energy sectors and natural gas. | $0 | 0% | $406K | $406K | ||||
| Geosolar Technologies Inc plans to install natural energy systems, referred to as the GeoSolar Plus System, in newly built and existing residences as well as green new apartments and commercial buildings. The GSP System is based on combining solar power, geothermal ground-sourced energy, and other clean energy technologies into one fully integrated system. The GSP system is designed to significantly reduce energy consumption and associated carbon emissions and improve the atmospheric and indoor air quality in residences. | $0 | -- | $13K | $3M | ||||
| Maxeon Solar Technologies Ltd is engaged in the manufacturing and marketing of premium solar technology. It owns and operates solar cell and panel manufacturing facilities located in Malaysia, Mexico, and the Philippines. The company's primary products are the Maxeon line of interdigitated back contact (IBC) solar cells and panels, and the Performance line (formerly, P-Series) of shingled solar cells and panels. the Maxeon line of solar panels are the highest-efficiency solar panels on the market with an aesthetically pleasing design, and the Performance line of solar panels offers a high-value and cost-effective solution. It is targeted at residential and small-scale commercial customers across the globe. The company derives its revenue from the United States, Italy, and Rest of world. | $0 | -100% | $0K | $308M | ||||
| Median | $3 | -18% | $289M | $465M | 2.5x | 9.8x |
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