Lodestone Energy Funding, Investors & Competitors

Iberdrola is one of the largest utilities in the world with electric utility operations in nearly 40 countries. The company has a 57-gigawatt portfolio of hydro, wind, natural gas, and nuclear power plants. It is one of the largest owners of wind farms in the world, representing about 40% of its portfolio. Although the company has recently developed or acquired distribution and power generation assets in other geographic areas, Spain is still home to more than half of its power generation capacity. Iberdrola also owns and operates electricity and distribution networks in Spain, the UK, Brazil, and the US.

China Yangtze Power Co Ltd business activities include hydroelectric power generation, power distribution and sales, overseas power station's operation, management, consultation services, investment, and financing. It has also established its power distribution and sales platforms such as Three Gorges Water Conservancy and Peru LuzdelSur. The company owns the power generation assets of four hydropower plants on the mainstream of the Yangtze River, namely Three Gorges, Gezhouba, Xiluodu, and Xiangjiaba.

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.

Adani New Industries is a wholly-owned subsidiary of Adani Enterprises headquartered in Ahmedabad that manufactures solar photovoltaic modules, wind turbine generators, green hydrogen electrolysers, and energy storage systems. Established in 2023, it operates a 4 GW solar module facility in Mundra alongside plans for 5 GW annual wind turbine production and a 2.5 GW electrolyser plant by 2026. The company supports India's green energy transition by producing high-efficiency N-type TOPCon solar cells and integrates backward into polysilicon and ingots. Its Khavda mega-factory aims for 10 GW integrated solar manufacturing capacity.

Vistra Corp. is one of the largest power producers and retail energy providers in the USA. 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 (1.4 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.

Danish company Orsted was named Dong Energy until the sale of all its oil and gas fields to Ineos in 2017, soon after the May 2016 initial public offering. Orsted is now focused on renewable assets, especially offshore wind farms. It operated 9.9 gigawatts of offshore wind farms at the end of 2024. The United Kingdom is the biggest country of operation, ahead of Germany and Denmark. The group intends to develop its footprint outside Europe with projects in Taiwan and in the US. Orsted also operates 4.8 GW of onshore wind and solar assets concentrated in the United States. The company is involved in more traditional utilities business like conventional power plants and gas supply, but these activities are noncore.

Gulf Development PCL is a Thailand-based company mainly involved in the electricity-generating business. The group's principal operations are to generate and sell electricity and steam, store and convert natural gas from liquid to gas, provide satellite services, and operate other businesses in domestic and international markets. It is also involved in the business of renewable energy, such as solar rooftops and biomass energy. The group's reportable segments are: Power business (which generates maximum revenue), Consulting business, Infrastructure business, and Satellite and digital business. Geographically, it derives maximum revenue from Thailand.

Huaneng Lancang River Hydropower Inc is engaged in the development and operation of the Lancang River and the surrounding areas of hydropower resources. The company is also engaged in the exploration of solar photovoltaic, wind power, shale gas, and other new energy construction.

Founded in 1947 through a nationalization act, Verbund is the leading power producer in Austria. The Austrian state owns 51% of its capital. Hydro accounts for more than 90% of the total power output. Hydro power is generated from reservoirs and pumped storage plants in the Austrian Alps, and run-of-river plants in Austria and southern Germany. Total hydro capacity amounts to 8.4 GW. Verbund also owns the Austrian electricity grid through its fully owned subsidiary AP. In 2021, the firm acquired 51% of Gas Connect Austria, a gas transmission and distribution system operator. The group also owns one CCGT and is involved in trading and development of wind and solar capacity.

Axia Energia is engaged in the generation, transmission, and commercialization of electricity in Brazil. The company operates a portfolio of wind, thermal, hydro, and nuclear power plants located throughout the country.

Huadian New Energy Group Corp Ltd is engaged in Development, investment and operation of new energy projects, mainly wind power generation and solar power generation.

Uniper SE is a Germany-based energy generation and energy trading company. The firm operates through three segments: Flexible Generation, Greener commodities, and Green Generation. The Green Generation segment comprises emission-free power generation plants that the Uniper Group operates in Europe. The Flexible Generation segment comprises the power and heat generation plants that the Uniper Group operates in Europe to flexibly meet grid operators' requirements. The Greener Commodities segment bundles the energy trading and optimization activities and forms the commercial interface between the Uniper Group and the globally traded markets for energy and the major customers. The majority of revenue is derived from the Greener Commodities segment.

EDP is a vertically integrated utility company and is the largest generator, supplier, and distributor of electricity in Portugal. In addition to Portugal, EDP has sizable operations in Spain, Brazil, and the US. EDP owns 71% of EDP Renovaveis, the fourth-largest wind power owner/operator in the world. EDP delisted Energias do Brasil in August 2023 after buying out the 46% minorities.

Kansai Electric Power Co Inc is a Japan-based company that provides energy and information technology solutions. The company operates in four business segments. The Energy segment offers electricity, gas, and utility solutions. The Information and Communications segment provides comprehensive communication services. The Lifestyle/Business Solutions segment delivers consumer and business-related services. The Power Transmission and Distribution segment ensures a safe and reliable electricity supply from a neutral and fair standpoint. It generates the majority of its revenue from the Energy business segment.

Helion Energy is an Everett, Washington-headquartered fusion energy company founded in 2013, advancing toward the first fusion power plant for clean electricity production. It has demonstrated prototypes like Trenta and develops the Polaris project for net electricity generation using magneto-inertial fusion. Helion secures a power purchase agreement with Microsoft for delivery of 50 megawatts of fusion power.

Cepsa is a Spanish integrated energy group that refines crude oil, sells fuels through its own service-station network and manufactures petrochemicals including phenol, acetone and linear alkylbenzene. Refining is concentrated in Andalusia, at Huelva and San Roque, and the group also holds upstream oil and gas interests outside Spain. More recent capital spending has shifted toward renewable hydrogen, biofuels and electric-vehicle charging, and the group adopted the Moeve brand in 2024. Abu Dhabi's Mubadala has been the controlling shareholder since 2011.

Eni Plenitude is a Milan-headquartered energy retailer operating in 10 European countries, generating electricity from 6 GW of renewable capacity including solar farms in Italy and Spain. The company manages 7 million charging points for electric vehicles across highways and urban areas, alongside retail sales of gas and power to residential and business customers.

Greenko Group is a Hyderabad-headquartered independent power producer developing renewable energy assets across India. Listed on the London Stock Exchange's AIM market, the company operates wind, solar, hydropower, natural gas, and biomass plants. Founded in 2006, Greenko pursues greenfield projects to expand its portfolio in response to India's power demand growth.