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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 Barito Renewables.

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Renewable Energy

Viewing 50 of 256 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
GE Vernova	$238B	$229B	$39B	5.8x	62.7x
Iberdrola	$155B	$213B	$54B	4.0x	11.0x
Constellation Energy	$118B	$124B	$26B	4.7x	23.3x
China Yangtze Power	$94B	$135B	$12B	10.8x	14.0x
Barito Renewables	$64B	$66B	—	—	—
Vistra	$56B	$76B	$19B	4.1x	12.4x
ACWA Power	$38B	$43B	$2B	21.0x	35.0x
Huadian New Energy Group	$36B	$77B	—	—	—
Ørsted	$31B	$34B	$12B	2.9x	9.2x
Gulf Development	$28B	$38B	$4B	9.3x	59.1x
Verbund	$26B	$26B	$9B	3.0x	8.3x
Vestas	$25B	$23B	$23B	1.0x	9.2x
Huaneng Lancang River	$24B	$40B	$4B	10.3x	13.7x
EDP Group	$22B	$47B	$19B	2.5x	7.9x
First Solar	$21B	$19B	$5B	3.7x	8.0x
Fortum	$21B	$24B	$6B	4.0x	15.6x
LONGi	$20B	$17B	$11B	1.6x	29.8x
Kansai Electric Power	$19B	$39B	$26B	1.5x	7.3x
Norsk Hydro	$18B	$20B	$22B	0.9x	6.5x
Adani Green Energy	$17B	$26B	$1B	17.4x	21.5x
China Three Gorges	$17B	$45B	$4B	10.2x	12.4x
Uniper	$17B	$10B	$88B	0.1x	7.5x
EDP Renovaveis	$16B	$28B	$3B	8.9x	12.0x
Nextpower	$16B	$15B	$3B	4.4x	18.4x
Longyuan Power	$16B	$36B	$5B	7.7x	9.9x
SDIC Power Holdings	$16B	$35B	$8B	4.4x	8.3x
Goldwind Science	$16B	$20B	$12B	1.7x	17.6x
Hidroelectrica	$13B	$13B	$2B	5.8x	11.5x
China Resources Power	$13B	$38B	$14B	2.8x	7.3x
GD Power Development	$12B	$50B	$25B	2.0x	7.8x
Nordex	$12B	$10B	$9B	1.1x	13.0x
Siemens Energy India	$11B	$11B	$946M	11.6x	58.9x
Jinko Solar	$11B	$12B	$11B	1.2x	17.5x
BKW	$10B	$12B	$6B	1.9x	10.1x
REC	$10B	$66B	$2B	27.1x	28.0x
Brookfield Renewable Partners	$10B	$42B	$7B	6.5x	15.3x
Enlight Renewable Energy	$10B	$14B	—	—	—
Guangxi Guiguan Electric	$10B	$13B	$2B	8.4x	12.8x
JSW Energy	$10B	$16B	$2B	7.4x	14.5x
Datang International	$9B	$33B	$18B	1.9x	6.3x
Meridian Energy	$9B	$10B	$2B	3.9x	18.3x
Darling Ingredients	$9B	$13B	$6B	2.1x	11.7x
NHPC	$8B	$13B	$1B	9.9x	18.4x
Shanghai Electric Power	$8B	$22B	$6B	3.4x	—
ACCIONA Energía	$8B	$14B	$3B	4.1x	8.0x
Public Power Corporation	$8B	$15B	$11B	1.3x	6.1x
Brookfield Renewable	$8B	$22B	$6B	3.9x	5.2x
CSI Solar	$8B	$8B	$6B	1.4x	10.0x
Engie Brasil	$7B	$12B	$2B	5.0x	9.2x
Capital Power	$7B	$12B	$3B	4.5x	10.3x
Trina Solar	$7B	$X.XB	$11B	X.Xx	X.Xx
Ormat	$7B	$X.XB	$1B	X.Xx	X.Xx
Tokyo Electric Power	$6B	$X.XB	$42B	X.Xx	X.Xx
Suzlon Energy	$6B	$X.XB	$2B	X.Xx	X.Xx
Enphase Energy	$6B	$X.XB	$1B	X.Xx	X.Xx
TAURON	$5B	$X.XB	$9B	X.Xx	X.Xx
Mercury NZ	$5B	$X.XB	$2B	X.Xx	X.Xx
Contact Energy	$5B	$X.XB	$2B	X.Xx	X.Xx
Algonquin Power & Utilities	$5B	$X.XB	$2B	X.Xx	X.Xx
Hubei Energy	$5B	$X.XB	$3B	X.Xx	X.Xx
Sany Heavy Energy	$5B	$X.XB	$4B	X.Xx	X.Xx
Enel Generacion Chile	$5B	$X.XB	$3B	X.Xx	X.Xx
Clearway Energy	$5B	$X.XB	$1B	X.Xx	X.Xx
AIKO Solar	$4B	$X.XB	$3B	X.Xx	X.Xx
CMB.Tech	$4B	$X.XB	$2B	X.Xx	X.Xx
ERG	$4B	$X.XB	$965M	X.Xx	X.Xx
J-Power	$4B	$X.XB	$8B	X.Xx	X.Xx
Northland Power	$4B	$X.XB	$2B	X.Xx	X.Xx
TransAlta	$4B	$X.XB	$2B	X.Xx	X.Xx
Drax Group	$4B	$X.XB	$7B	X.Xx	X.Xx
Tohoku Electric Power	$4B	$X.XB	$16B	X.Xx	X.Xx
Xinyi Solar	$4B	$X.XB	$3B	X.Xx	X.Xx
Energix-Renewable	$4B	$X.XB	—	X.Xx	X.Xx
Doral Group Renewable	$4B	$X.XB	—	X.Xx	X.Xx
Grenergy Renovables	$4B	$X.XB	$1B	X.Xx	X.Xx
Premier Energies	$4B	$X.XB	$851M	X.Xx	X.Xx
Margun Enerji	$3B	$X.XB	—	X.Xx	X.Xx
SJVN	$3B	$X.XB	$393M	X.Xx	X.Xx
Solaria Energia	$3B	$X.XB	$360M	X.Xx	X.Xx
Sunrun	$3B	$X.XB	$3B	X.Xx	X.Xx
Greencoat UK Wind	$3B	$X.XB	$61M	X.Xx	X.Xx
Pertamina Geothermal	$3B	$X.XB	$424M	X.Xx	X.Xx
Meshek Energy Renewable	$3B	$X.XB	—	X.Xx	X.Xx
Chugoku Electric Power	$2B	$X.XB	$9B	X.Xx	X.Xx
Solaris Energy	$2B	$X.XB	$658M	X.Xx	X.Xx
Auren Energia	$2B	$X.XB	$2B	X.Xx	X.Xx
Cadeler	$2B	$X.XB	$764M	X.Xx	X.Xx
Andersons	$2B	$X.XB	$11B	X.Xx	X.Xx
Renewables Infrastructure Group	$2B	$X.XB	$45M	X.Xx	X.Xx
SolarEdge	$2B	$X.XB	$1B	X.Xx	X.Xx
Nofar Energy	$2B	$X.XB	—	X.Xx	X.Xx
Verbio	$2B	$X.XB	$2B	X.Xx	X.Xx
Boralex	$2B	$X.XB	$614M	X.Xx	X.Xx
Scatec	$2B	$X.XB	$552M	X.Xx	X.Xx
ReNew	$2B	$X.XB	$1B	X.Xx	X.Xx
Aksa Enerji	$2B	$X.XB	$981M	X.Xx	X.Xx
Empresa Eléctrica Pehuenche	$2B	$X.XB	—	X.Xx	X.Xx
ACEN	$2B	$X.XB	—	X.Xx	X.Xx
Celsia Colombia	$2B	$X.XB	—	X.Xx	X.Xx
Electricite De Strasbourg	$2B	$X.XB	—	X.Xx	X.Xx
Inox Wind	$2B	$X.XB	$542M	X.Xx	X.Xx
Minera Valparaiso	$2B	$X.XB	—	X.Xx	X.Xx
Romande Energie	$2B	$X.XB	$1B	X.Xx	X.Xx
CS Wind	$1B	$X.XB	$2B	X.Xx	X.Xx
CropEnergies	$1B	$X.XB	—	X.Xx	X.Xx
Raizen	$1B	$X.XB	$43B	X.Xx	X.Xx
Naturenergie	$1B	$X.XB	—	X.Xx	X.Xx
Celsia	$1B	$X.XB	$1B	X.Xx	X.Xx
JinkoSolar	$1B	$X.XB	$10B	X.Xx	X.Xx
Econergy Renewable Energy	$1B	$X.XB	—	X.Xx	X.Xx
SMA Solar Technology	$1B	$X.XB	$2B	X.Xx	X.Xx
REX American Resources	$1B	$X.XB	—	X.Xx	X.Xx
Banpu Power	$1B	$X.XB	$946M	X.Xx	X.Xx
Premier Energy	$1B	$X.XB	$2B	X.Xx	X.Xx
Alerion CleanPower	$1B	$X.XB	$295M	X.Xx	X.Xx
Canadian Solar	$1B	$X.XB	$6B	X.Xx	X.Xx
Shikun & Binui Energy	$1B	$X.XB	—	X.Xx	X.Xx
Reliance Power	$1B	$X.XB	—	X.Xx	X.Xx
SP New Energy	$1B	$X.XB	—	X.Xx	X.Xx
Array Technologies	$1B	$X.XB	$1B	X.Xx	X.Xx
Bonheur	$1B	$X.XB	$1B	X.Xx	X.Xx
Voltalia	$1B	$X.XB	$673M	X.Xx	X.Xx
Shoals	$993M	$X.XB	$495M	X.Xx	X.Xx
XPLR Infrastructure	$981M	$X.XB	$1B	X.Xx	X.Xx
Waaree RTL	$954M	$X.XB	—	X.Xx	X.Xx
Grupo Cox	$932M	$X.XB	$2B	X.Xx	X.Xx
Greencoat Renewables	$878M	$X.XB	$31M	X.Xx	X.Xx
Engie Energia Peru	$824M	$X.XB	$638M	X.Xx	X.Xx
CW Enerji	$784M	$X.XB	—	X.Xx	X.Xx
PNEGroup	$774M	$X.XB	$330M	X.Xx	X.Xx
SunOpta	$766M	$X.XB	$828M	X.Xx	X.Xx
Tamboran Resources	$718M	$X.XB	$8M	X.Xx	X.Xx
Audax Renovables	$670M	$X.XB	$2B	X.Xx	X.Xx
Energiekontor	$622M	$X.XB	$218M	X.Xx	X.Xx
Lydia Yeşil Enerji	$622M	$X.XB	—	X.Xx	X.Xx
Mogan Enerji	$616M	$X.XB	—	X.Xx	X.Xx
Kalyon Güneş Teknolojileri	$591M	$X.XB	—	X.Xx	X.Xx
Energy Vault	$545M	$X.XB	$207M	X.Xx	X.Xx
Sterling and Wilson	$511M	$X.XB	$847M	X.Xx	X.Xx
IC Enterra	$470M	$X.XB	$95M	X.Xx	X.Xx
Akfen Yenilenebilir Enerji	$466M	$X.XB	—	X.Xx	X.Xx
Gevo	$460M	$X.XB	$165M	X.Xx	X.Xx
West Holdings	$438M	$X.XB	$331M	X.Xx	X.Xx
Aydem Yenilenebilir Enerji	$415M	$X.XB	$260M	X.Xx	X.Xx
Cloudberry Clean Energy	$413M	$X.XB	$65M	X.Xx	X.Xx
EnviTec Biogas	$409M	$X.XB	—	X.Xx	X.Xx
Ecoener	$321M	$X.XB	$108M	X.Xx	X.Xx
Alfa Solar	$314M	$X.XB	—	X.Xx	X.Xx
Toyo	$297M	$X.XB	$473M	X.Xx	X.Xx
Cox Energy	$283M	$X.XB	—	X.Xx	X.Xx
BayWa	$269M	$X.XB	$13B	X.Xx	X.Xx
LGI Ltd.	$268M	$X.XB	$28M	X.Xx	X.Xx
ALTEO Energy Services	$263M	$X.XB	—	X.Xx	X.Xx
Tigo Energy	$258M	$X.XB	$109M	X.Xx	X.Xx
Integrated Wind Solutions	$249M	$X.XB	$123M	X.Xx	X.Xx
Montauk Renewables	$231M	$X.XB	$178M	X.Xx	X.Xx
Orron Energy	$221M	$X.XB	$38M	X.Xx	X.Xx
Fintel Energija	$166M	$X.XB	—	X.Xx	X.Xx
Entech	$164M	$X.XB	$101M	X.Xx	X.Xx
Esenboğa Elektrik	$162M	$X.XB	—	X.Xx	X.Xx
7C Solarparken	$153M	$X.XB	$80M	X.Xx	X.Xx
Altea Green Power	$144M	$X.XB	$36M	X.Xx	X.Xx
Seri Industrial	$139M	$X.XB	$351M	X.Xx	X.Xx
Magnora	$139M	$X.XB	$12M	X.Xx	X.Xx
Onde	$138M	$X.XB	—	X.Xx	X.Xx
Enda Enerji	$138M	$X.XB	—	X.Xx	X.Xx
Environment Friendly	$119M	$X.XB	$9M	X.Xx	X.Xx
Clearvise	$118M	$X.XB	$51M	X.Xx	X.Xx
FTC Solar	$112M	$X.XB	$113M	X.Xx	X.Xx
Kauno Energija	$102M	$X.XB	—	X.Xx	X.Xx
Edisun Power	$99M	$X.XB	—	X.Xx	X.Xx
Eolus AB	$99M	$X.XB	$378M	X.Xx	X.Xx
Sulnox Group	$96M	$X.XB	—	X.Xx	X.Xx
Renova Energia	$95M	$X.XB	—	X.Xx	X.Xx
Frontier Energy	$89M	$X.XB	—	X.Xx	X.Xx
Columbus Energy	$88M	$X.XB	—	X.Xx	X.Xx
Umbrella Global Energy	$85M	$X.XB	—	X.Xx	X.Xx
Stem	$84M	$X.XB	$158M	X.Xx	X.Xx
Energy Solar Tech	$78M	$X.XB	—	X.Xx	X.Xx
Iniziative Bresciane	$75M	$X.XB	$34M	X.Xx	X.Xx
H2APEX Group	$73M	$X.XB	$13M	X.Xx	X.Xx
Spruce Power	$70M	$X.XB	—	X.Xx	X.Xx
GCL Global Holdings	$65M	$X.XB	—	X.Xx	X.Xx
ABO Energy	$64M	$X.XB	$355M	X.Xx	X.Xx
Otovo	$63M	$X.XB	$65M	X.Xx	X.Xx
EiDF SOLAR	$60M	$X.XB	—	X.Xx	X.Xx
Abalance	$59M	$X.XB	—	X.Xx	X.Xx
Broadwind	$57M	$X.XB	$155M	X.Xx	X.Xx
Hydrogen de France	$56M	$X.XB	—	X.Xx	X.Xx
Enapter	$52M	$X.XB	$26M	X.Xx	X.Xx
Midsummer	$49M	$X.XB	—	X.Xx	X.Xx
More Impact	$45M	$X.XB	—	X.Xx	X.Xx
Maxeon Solar Technologies	$41M	$X.XB	—	X.Xx	X.Xx
NAP	$41M	$X.XB	—	X.Xx	X.Xx
AmonRa Energy	$40M	$X.XB	—	X.Xx	X.Xx
MINT	$40M	$X.XB	—	X.Xx	X.Xx
SolarMax Technology	$38M	$X.XB	—	X.Xx	X.Xx
Solarium Green Energy	$36M	$X.XB	—	X.Xx	X.Xx
VivoPower	$36M	$X.XB	$16K	X.Xx	X.Xx
Saule Technologies	$35M	$X.XB	—	X.Xx	X.Xx
ML System	$35M	$X.XB	—	X.Xx	X.Xx
PowerBank	$34M	$X.XB	$38M	X.Xx	X.Xx
Zeo Energy	$33M	$X.XB	—	X.Xx	X.Xx
E4U	$33M	$X.XB	—	X.Xx	X.Xx
MPC Energy Solutions	$30M	$X.XB	$12M	X.Xx	X.Xx
Verde Clean Fuels	$30M	$X.XB	—	X.Xx	X.Xx
Holaluz	$29M	$X.XB	$161M	X.Xx	X.Xx
Eqva	$26M	$X.XB	—	X.Xx	X.Xx
Photon Energy	$23M	$X.XB	—	X.Xx	X.Xx
Sunex	$21M	$X.XB	—	X.Xx	X.Xx
Charwood Energy	$20M	$X.XB	$11M	X.Xx	X.Xx
Faveos	$19M	$X.XB	—	X.Xx	X.Xx
Turbo Energy	$19M	$X.XB	—	X.Xx	X.Xx
Minesto	$18M	$X.XB	—	X.Xx	X.Xx
Raen	$17M	$X.XB	—	X.Xx	X.Xx
SolTech Energy Sweden	$15M	$X.XB	—	X.Xx	X.Xx
Remor Solar Polska	$15M	$X.XB	—	X.Xx	X.Xx
Agripower France	$15M	$X.XB	—	X.Xx	X.Xx
Frendy Energy	$14M	$X.XB	—	X.Xx	X.Xx
Lemon Sistemi	$14M	$X.XB	$14M	X.Xx	X.Xx
Gigasun	$14M	$X.XB	$28M	X.Xx	X.Xx
Astrasun Solar	$14M	$X.XB	—	X.Xx	X.Xx
Skycorp Solar Group	$13M	$X.XB	—	X.Xx	X.Xx
Climeon	$12M	$X.XB	—	X.Xx	X.Xx
Ocean Sun	$8M	$X.XB	—	X.Xx	X.Xx
Starhedge	$8M	$X.XB	—	X.Xx	X.Xx
Energeia	$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
PT Sky Energy Indonesia Tbk	$6M	$X.XB	—	X.Xx	X.Xx
Voolt	$6M	$X.XB	—	X.Xx	X.Xx
DWK Deutsche Wasserkraft	$6M	$X.XB	—	X.Xx	X.Xx
Haffner Energy	$5M	$X.XB	$5M	X.Xx	X.Xx
E-Pango	$5M	$X.XB	—	X.Xx	X.Xx
New Sources Energy	$5M	$X.XB	—	X.Xx	X.Xx
Profithol	$5M	$X.XB	—	X.Xx	X.Xx
Erato Energy	$5M	$X.XB	—	X.Xx	X.Xx
Dlaboratory Sweden	$5M	$X.XB	—	X.Xx	X.Xx
Gosol Energy Group	$5M	$X.XB	—	X.Xx	X.Xx
Groupe Okwind	$4M	$X.XB	$28M	X.Xx	X.Xx
OZE Capital	$3M	$X.XB	—	X.Xx	X.Xx
T&T Proenergy	$3M	$X.XB	—	X.Xx	X.Xx
Horisont Energi	$3M	$X.XB	—	X.Xx	X.Xx
Fotovolt Eko Energia	$3M	$X.XB	—	X.Xx	X.Xx
Founder Group Limited	$3M	$X.XB	—	X.Xx	X.Xx
Absolicon	$3M	$X.XB	$866K	X.Xx	X.Xx
EAM Solar	$3M	$X.XB	—	X.Xx	X.Xx
Aleia Holding	$3M	$X.XB	—	X.Xx	X.Xx
Cortus Energy	$2M	$X.XB	—	X.Xx	X.Xx
Niutech	$2M	$X.XB	$20M	X.Xx	X.Xx
Aker Horizons	$2M	$X.XB	—	X.Xx	X.Xx
Windon Energy Group	$2M	$X.XB	—	X.Xx	X.Xx
Zeneris Projekty	$2M	$X.XB	—	X.Xx	X.Xx
Alternus Energy Group	$921K	$X.XB	—	X.Xx	X.Xx
Etrion	$200K	$X.XB	—	X.Xx	X.Xx
Meyer Burger	$190K	$X.XB	—	X.Xx	X.Xx