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Public Comps and Valuation Multiples for Renewable Energy

Benchmark revenue and EBITDA valuation multiples for public comps like
GE Vernova, Iberdrola, Constellation Energy, China Yangtze Power and Vistra.

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Renewable Energy

Viewing 50 of 273 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
GE Vernova	$266B	$258B	$40B	6.4x	64.6x
Iberdrola	$158B	$219B	$54B	4.1x	11.2x
Constellation Energy	$104B	$110B	$27B	4.0x	18.0x
China Yangtze Power	$96B	$137B	$13B	10.8x	13.9x
Vistra	$54B	$76B	$19B	3.9x	12.0x
Barito Renewables	$52B	$53B	—	—	—
Huadian New Energy Group	$37B	$79B	—	—	—
ACWA Power	$36B	$42B	$2B	19.8x	32.5x
Ørsted	$32B	$36B	$12B	3.0x	9.2x
Vestas	$30B	$29B	$23B	1.2x	10.9x
Axia Energia	$29B	$39B	$8B	4.7x	8.3x
Gulf Development	$27B	$37B	$4B	8.9x	41.8x
Huaneng Lancang River	$27B	$43B	$4B	10.5x	13.8x
Verbund	$26B	$28B	$9B	3.1x	9.3x
Fortum	$22B	$25B	$6B	4.0x	15.7x
Norsk Hydro	$22B	$23B	$22B	1.0x	7.2x
EDP Group	$21B	$45B	$18B	2.4x	7.5x
First Solar	$21B	$18B	$5B	3.6x	7.6x
TBEA	$21B	$24B	$15B	1.6x	9.9x
Adani Green Energy	$21B	$29B	$1B	20.0x	24.2x
LONGi	$20B	$17B	$11B	1.5x	22.0x
Uniper	$19B	$13B	$71B	0.2x	9.8x
Kansai Electric Power	$17B	$37B	$26B	1.4x	7.0x
China Three Gorges	$17B	$45B	$4B	10.8x	13.4x
EDP Renovaveis	$16B	$27B	$3B	8.5x	11.6x
Nextpower	$16B	$15B	$4B	4.4x	18.5x
SDIC Power Holdings	$16B	$35B	$8B	4.5x	10.0x
Goldwind Science	$15B	$19B	$11B	1.6x	14.5x
Longyuan Power	$14B	$33B	$4B	7.4x	9.6x
Hidroelectrica	$13B	$13B	$2B	5.7x	11.1x
China Resources Power	$13B	$38B	$13B	2.9x	7.6x
Nordex	$13B	$11B	$9B	1.2x	13.4x
GD Power Development	$13B	$53B	$25B	2.1x	8.2x
Siemens Energy India	$12B	$12B	$965M	12.1x	60.8x
Enlight Renewable Energy	$12B	$16B	—	—	—
Guangxi Guiguan Electric	$12B	$15B	$2B	10.0x	14.8x
REC	$11B	$67B	$2B	27.9x	28.4x
Waaree Energies	$11B	$10B	$3B	3.6x	15.7x
BKW	$11B	$12B	$6B	2.0x	10.8x
Brookfield Renewable Partners	$11B	$44B	$7B	6.6x	15.6x
Jinko Solar	$10B	$12B	$10B	1.2x	23.1x
JSW Energy	$10B	$17B	$2B	7.7x	14.7x
Darling Ingredients	$9B	$13B	$6B	2.1x	11.4x
Datang International	$9B	$35B	$18B	2.0x	7.5x
NHPC	$9B	$13B	$1B	10.3x	19.2x
Meridian Energy	$9B	$10B	$2B	4.0x	17.2x
Engie Brasil	$9B	$14B	$2B	5.9x	10.0x
ACCIONA Energía	$8B	$14B	$3B	4.1x	8.3x
Public Power Corporation	$8B	$16B	$11B	1.4x	6.5x
Suzlon Energy	$8B	$8B	$2B	4.2x	22.6x
Brookfield Renewable	$8B	$X.XB	$6B	X.Xx	X.Xx
Capital Power	$8B	$X.XB	$3B	X.Xx	X.Xx
Shanghai Electric Power	$7B	$X.XB	—	X.Xx	X.Xx
CSI Solar	$7B	$X.XB	$6B	X.Xx	X.Xx
SOLV Energy	$7B	$X.XB	$3B	X.Xx	X.Xx
Ormat	$7B	$X.XB	$1B	X.Xx	X.Xx
Tokyo Electric Power	$6B	$X.XB	$41B	X.Xx	X.Xx
Trina Solar	$6B	$X.XB	$11B	X.Xx	X.Xx
Contact Energy	$5B	$X.XB	$2B	X.Xx	X.Xx
Mercury NZ	$5B	$X.XB	$2B	X.Xx	X.Xx
Enel Generacion Chile	$5B	$X.XB	—	X.Xx	X.Xx
Hubei Energy	$5B	$X.XB	$3B	X.Xx	X.Xx
AIKO Solar	$5B	$X.XB	$3B	X.Xx	X.Xx
Premier Energies	$5B	$X.XB	$876M	X.Xx	X.Xx
TAURON	$5B	$X.XB	$9B	X.Xx	X.Xx
Algonquin Power & Utilities	$5B	$X.XB	$2B	X.Xx	X.Xx
Clearway Energy	$5B	$X.XB	$1B	X.Xx	X.Xx
Enphase Energy	$4B	$X.XB	$1B	X.Xx	X.Xx
Sany Heavy Energy	$4B	$X.XB	$4B	X.Xx	X.Xx
Doral Group Renewable	$4B	$X.XB	—	X.Xx	X.Xx
Northland Power	$4B	$X.XB	$2B	X.Xx	X.Xx
J-Power	$4B	$X.XB	$8B	X.Xx	X.Xx
Margun Enerji	$4B	$X.XB	—	X.Xx	X.Xx
Grenergy Renovables	$4B	$X.XB	$1B	X.Xx	X.Xx
CMB.Tech	$4B	$X.XB	$2B	X.Xx	X.Xx
Energix-Renewable	$4B	$X.XB	—	X.Xx	X.Xx
Drax Group	$4B	$X.XB	$7B	X.Xx	X.Xx
Solaris Energy	$4B	$X.XB	$687M	X.Xx	X.Xx
TransAlta	$4B	$X.XB	—	X.Xx	X.Xx
Tohoku Electric Power	$4B	$X.XB	$15B	X.Xx	X.Xx
Xinyi Solar	$4B	$X.XB	$3B	X.Xx	X.Xx
ERG	$4B	$X.XB	$895M	X.Xx	X.Xx
Solaria Energia	$3B	$X.XB	$379M	X.Xx	X.Xx
SJVN	$3B	$X.XB	$444M	X.Xx	X.Xx
Auren Energia	$3B	$X.XB	$3B	X.Xx	X.Xx
Greencoat UK Wind	$3B	$X.XB	$147M	X.Xx	X.Xx
Sunrun	$3B	$X.XB	$3B	X.Xx	X.Xx
Boralex	$3B	$X.XB	$638M	X.Xx	X.Xx
Terna Energy	$3B	$X.XB	—	X.Xx	X.Xx
Verbio	$3B	$X.XB	$2B	X.Xx	X.Xx
Meshek Energy Renewable	$3B	$X.XB	—	X.Xx	X.Xx
Pertamina Geothermal	$3B	$X.XB	$437M	X.Xx	X.Xx
Andersons	$2B	$X.XB	$11B	X.Xx	X.Xx
Cadeler	$2B	$X.XB	$823M	X.Xx	X.Xx
SolarEdge	$2B	$X.XB	$1B	X.Xx	X.Xx
Aksa Enerji	$2B	$X.XB	$1B	X.Xx	X.Xx
Chugoku Electric Power	$2B	$X.XB	$9B	X.Xx	X.Xx
Nofar Energy	$2B	$X.XB	—	X.Xx	X.Xx
Renewables Infrastructure Group	$2B	$X.XB	$78M	X.Xx	X.Xx
Scatec	$2B	$X.XB	$556M	X.Xx	X.Xx
ACEN	$2B	$X.XB	—	X.Xx	X.Xx
SMA Solar Technology	$2B	$X.XB	$2B	X.Xx	X.Xx
Celsia Colombia	$2B	$X.XB	—	X.Xx	X.Xx
Electricite De Strasbourg	$2B	$X.XB	—	X.Xx	X.Xx
ReNew	$2B	$X.XB	$1B	X.Xx	X.Xx
Empresa Eléctrica Pehuenche	$2B	$X.XB	—	X.Xx	X.Xx
Inox Wind	$2B	$X.XB	$554M	X.Xx	X.Xx
CS Wind	$2B	$X.XB	$2B	X.Xx	X.Xx
Minera Valparaiso	$2B	$X.XB	—	X.Xx	X.Xx
Celsia	$2B	$X.XB	$1B	X.Xx	X.Xx
Romande Energie	$2B	$X.XB	$999M	X.Xx	X.Xx
Econergy Renewable Energy	$2B	$X.XB	—	X.Xx	X.Xx
REX American Resources	$1B	$X.XB	$650M	X.Xx	X.Xx
CropEnergies	$1B	$X.XB	—	X.Xx	X.Xx
Naturenergie	$1B	$X.XB	—	X.Xx	X.Xx
Premier Energy	$1B	$X.XB	$2B	X.Xx	X.Xx
SP New Energy	$1B	$X.XB	—	X.Xx	X.Xx
Reliance Power	$1B	$X.XB	—	X.Xx	X.Xx
Shikun & Binui Energy	$1B	$X.XB	—	X.Xx	X.Xx
Waaree RTL	$1B	$X.XB	—	X.Xx	X.Xx
Shoals	$1B	$X.XB	$509M	X.Xx	X.Xx
Array Technologies	$1B	$X.XB	$1B	X.Xx	X.Xx
Bonheur	$1B	$X.XB	$1B	X.Xx	X.Xx
JinkoSolar	$1B	$X.XB	$10B	X.Xx	X.Xx
Banpu Power	$1B	$X.XB	—	X.Xx	X.Xx
Raizen	$1B	$X.XB	$45B	X.Xx	X.Xx
Voltalia	$1B	$X.XB	$689M	X.Xx	X.Xx
Grupo Cox	$1B	$X.XB	$2B	X.Xx	X.Xx
Tamboran Resources	$963M	$X.XB	$8M	X.Xx	X.Xx
EnergyVision	$954M	$X.XB	$253M	X.Xx	X.Xx
XPLR Infrastructure	$943M	$X.XB	$1B	X.Xx	X.Xx
Greencoat Renewables	$942M	$X.XB	$44M	X.Xx	X.Xx
Canadian Solar	$893M	$X.XB	$6B	X.Xx	X.Xx
CW Enerji	$833M	$X.XB	—	X.Xx	X.Xx
PNEGroup	$782M	$X.XB	$432M	X.Xx	X.Xx
SunOpta	$763M	$X.XB	$835M	X.Xx	X.Xx
Audax Renovables	$735M	$X.XB	$2B	X.Xx	X.Xx
Mogan Enerji	$721M	$X.XB	—	X.Xx	X.Xx
Engie Energia Peru	$710M	$X.XB	$626M	X.Xx	X.Xx
Lydia Yeşil Enerji	$671M	$X.XB	—	X.Xx	X.Xx
Energiekontor	$651M	$X.XB	$211M	X.Xx	X.Xx
Energy Vault	$644M	$X.XB	$220M	X.Xx	X.Xx
Akfen Yenilenebilir Enerji	$579M	$X.XB	—	X.Xx	X.Xx
Kalyon Güneş Teknolojileri	$573M	$X.XB	—	X.Xx	X.Xx
West Holdings	$568M	$X.XB	$348M	X.Xx	X.Xx
Sterling and Wilson	$535M	$X.XB	$854M	X.Xx	X.Xx
Toyo	$491M	$X.XB	$551M	X.Xx	X.Xx
NYAB	$491M	$X.XB	$667M	X.Xx	X.Xx
IC Enterra	$483M	$X.XB	$117M	X.Xx	X.Xx
Aydem Yenilenebilir Enerji	$462M	$X.XB	$327M	X.Xx	X.Xx
Cloudberry Clean Energy	$457M	$X.XB	$69M	X.Xx	X.Xx
Gevo	$437M	$X.XB	$169M	X.Xx	X.Xx
EnviTec Biogas	$415M	$X.XB	—	X.Xx	X.Xx
Alfa Solar	$334M	$X.XB	—	X.Xx	X.Xx
Tigo Energy	$319M	$X.XB	$112M	X.Xx	X.Xx
Smart Gunes Enerjisi Tek	$318M	$X.XB	—	X.Xx	X.Xx
Ecoener	$304M	$X.XB	$111M	X.Xx	X.Xx
Cox Energy	$297M	$X.XB	—	X.Xx	X.Xx
ALTEO Energy Services	$292M	$X.XB	—	X.Xx	X.Xx
Grupo Rio Alto	$289M	$X.XB	—	X.Xx	X.Xx
LGI Ltd.	$269M	$X.XB	$30M	X.Xx	X.Xx
Green Tech International	$248M	$X.XB	—	X.Xx	X.Xx
Integrated Wind Solutions	$246M	$X.XB	$127M	X.Xx	X.Xx
BayWa	$245M	$X.XB	—	X.Xx	X.Xx
Orron Energy	$228M	$X.XB	$41M	X.Xx	X.Xx
Montauk Renewables	$203M	$X.XB	$186M	X.Xx	X.Xx
7C Solarparken	$178M	$X.XB	$80M	X.Xx	X.Xx
Esenboğa Elektrik	$175M	$X.XB	—	X.Xx	X.Xx
Magnora	$168M	$X.XB	$12M	X.Xx	X.Xx
Entech	$166M	$X.XB	$109M	X.Xx	X.Xx
Fintel Energija	$161M	$X.XB	—	X.Xx	X.Xx
Altea Green Power	$155M	$X.XB	$31M	X.Xx	X.Xx
Enda Enerji	$149M	$X.XB	—	X.Xx	X.Xx
Seri Industrial	$145M	$X.XB	—	X.Xx	X.Xx
Onde	$138M	$X.XB	—	X.Xx	X.Xx
Environment Friendly	$115M	$X.XB	$9M	X.Xx	X.Xx
Frontier Energy	$108M	$X.XB	—	X.Xx	X.Xx
Clearvise	$107M	$X.XB	$53M	X.Xx	X.Xx
Sulnox Group	$106M	$X.XB	$4M	X.Xx	X.Xx
Eolus AB	$105M	$X.XB	$315M	X.Xx	X.Xx
Farmy Fotowoltaiki	$103M	$X.XB	—	X.Xx	X.Xx
Edisun Power	$101M	$X.XB	—	X.Xx	X.Xx
Kauno Energija	$101M	$X.XB	—	X.Xx	X.Xx
Stem	$96M	$X.XB	$159M	X.Xx	X.Xx
Calix	$92M	$X.XB	$26M	X.Xx	X.Xx
Otovo	$91M	$X.XB	$72M	X.Xx	X.Xx
Umbrella Global Energy	$86M	$X.XB	—	X.Xx	X.Xx
Renova Energia	$80M	$X.XB	—	X.Xx	X.Xx
Spruce Power	$77M	$X.XB	$112M	X.Xx	X.Xx
FTC Solar	$74M	$X.XB	$119M	X.Xx	X.Xx
Energy Solar Tech	$74M	$X.XB	—	X.Xx	X.Xx
Iniziative Bresciane	$74M	$X.XB	—	X.Xx	X.Xx
Columbus Energy	$71M	$X.XB	—	X.Xx	X.Xx
Hydrogen de France	$68M	$X.XB	$1M	X.Xx	X.Xx
GCL Global Holdings	$68M	$X.XB	—	X.Xx	X.Xx
Abalance	$64M	$X.XB	—	X.Xx	X.Xx
ABO Energy	$62M	$X.XB	$321M	X.Xx	X.Xx
H2APEX Group	$59M	$X.XB	$14M	X.Xx	X.Xx
Broadwind	$59M	$X.XB	$154M	X.Xx	X.Xx
Schwager	$54M	$X.XB	—	X.Xx	X.Xx
More Impact	$50M	$X.XB	—	X.Xx	X.Xx
EiDF SOLAR	$48M	$X.XB	—	X.Xx	X.Xx
Solarium Green Energy	$48M	$X.XB	—	X.Xx	X.Xx
Enapter	$47M	$X.XB	$32M	X.Xx	X.Xx
NAP	$43M	$X.XB	—	X.Xx	X.Xx
Verde Clean Fuels	$40M	$X.XB	—	X.Xx	X.Xx
Raen	$40M	$X.XB	—	X.Xx	X.Xx
AmonRa Energy	$40M	$X.XB	—	X.Xx	X.Xx
VivoPower	$40M	$X.XB	$16K	X.Xx	X.Xx
MINT	$36M	$X.XB	—	X.Xx	X.Xx
Saule Technologies	$36M	$X.XB	—	X.Xx	X.Xx
Midsummer	$36M	$X.XB	—	X.Xx	X.Xx
SolarMax Technology	$36M	$X.XB	—	X.Xx	X.Xx
E4U	$35M	$X.XB	—	X.Xx	X.Xx
PowerBank	$34M	$X.XB	$40M	X.Xx	X.Xx
Holaluz	$33M	$X.XB	—	X.Xx	X.Xx
ML System	$32M	$X.XB	—	X.Xx	X.Xx
Eqva	$31M	$X.XB	—	X.Xx	X.Xx
MPC Energy Solutions	$31M	$X.XB	—	X.Xx	X.Xx
Zeo Energy	$29M	$X.XB	—	X.Xx	X.Xx
Figene Capital	$29M	$X.XB	—	X.Xx	X.Xx
Maxeon Solar Technologies	$27M	$X.XB	—	X.Xx	X.Xx
SolTech Energy Sweden	$25M	$X.XB	—	X.Xx	X.Xx
Turbo Energy	$22M	$X.XB	—	X.Xx	X.Xx
Charwood Energy	$22M	$X.XB	$12M	X.Xx	X.Xx
Minesto	$20M	$X.XB	—	X.Xx	X.Xx
Faveos	$20M	$X.XB	—	X.Xx	X.Xx
Photon Energy	$19M	$X.XB	—	X.Xx	X.Xx
Sunex	$18M	$X.XB	—	X.Xx	X.Xx
Agripower France	$18M	$X.XB	—	X.Xx	X.Xx
Astrasun Solar	$17M	$X.XB	—	X.Xx	X.Xx
Gigasun	$16M	$X.XB	—	X.Xx	X.Xx
Climeon	$15M	$X.XB	—	X.Xx	X.Xx
Frendy Energy	$14M	$X.XB	—	X.Xx	X.Xx
Lemon Sistemi	$14M	$X.XB	$16M	X.Xx	X.Xx
Profithol	$14M	$X.XB	—	X.Xx	X.Xx
Remor Solar Polska	$14M	$X.XB	—	X.Xx	X.Xx
E-Pango	$13M	$X.XB	—	X.Xx	X.Xx
Haffner Energy	$9M	$X.XB	—	X.Xx	X.Xx
Innovative Energy Group	$8M	$X.XB	—	X.Xx	X.Xx
Minutor Energia	$8M	$X.XB	—	X.Xx	X.Xx
Energeia	$8M	$X.XB	—	X.Xx	X.Xx
Skycorp Solar Group	$7M	$X.XB	—	X.Xx	X.Xx
Ocean Sun	$7M	$X.XB	—	X.Xx	X.Xx
Gosol Energy Group	$7M	$X.XB	—	X.Xx	X.Xx
ENEFI Asset Management	$7M	$X.XB	—	X.Xx	X.Xx
Cogefeed	$7M	$X.XB	—	X.Xx	X.Xx
Starhedge	$7M	$X.XB	—	X.Xx	X.Xx
Groupe Okwind	$6M	$X.XB	$28M	X.Xx	X.Xx
PT Sky Energy Indonesia Tbk	$6M	$X.XB	—	X.Xx	X.Xx
Horisont Energi	$5M	$X.XB	—	X.Xx	X.Xx
Erato Energy	$5M	$X.XB	—	X.Xx	X.Xx
New Sources Energy	$5M	$X.XB	—	X.Xx	X.Xx
G-Energy	$5M	$X.XB	—	X.Xx	X.Xx
Dlaboratory Sweden	$5M	$X.XB	—	X.Xx	X.Xx
Voolt	$4M	$X.XB	—	X.Xx	X.Xx
DWK Deutsche Wasserkraft	$4M	$X.XB	—	X.Xx	X.Xx
Absolicon	$4M	$X.XB	$1M	X.Xx	X.Xx
EAM Solar	$4M	$X.XB	—	X.Xx	X.Xx
OZE Capital	$4M	$X.XB	—	X.Xx	X.Xx
Niutech	$3M	$X.XB	—	X.Xx	X.Xx
T&T Proenergy	$3M	$X.XB	—	X.Xx	X.Xx
Fotovolt Eko Energia	$3M	$X.XB	—	X.Xx	X.Xx
Cortus Energy	$2M	$X.XB	—	X.Xx	X.Xx
Corey Europe	$2M	$X.XB	—	X.Xx	X.Xx
Aleia Holding	$2M	$X.XB	—	X.Xx	X.Xx
Zeneris Projekty	$2M	$X.XB	—	X.Xx	X.Xx
Windon Energy Group	$952K	$X.XB	—	X.Xx	X.Xx
Meyer Burger	$946K	$X.XB	—	X.Xx	X.Xx
Aker Horizons	$929K	$X.XB	—	X.Xx	X.Xx
Alternus Energy Group	$921K	$X.XB	—	X.Xx	X.Xx
Founder Group Limited	$816K	$X.XB	—	X.Xx	X.Xx
Etrion	$200K	$X.XB	—	X.Xx	X.Xx