Adani, ranked 12th, is the only Indian company on the list put out by Greentech Media, a Wood Mackenzie business.
"We have only included companies that are active in developing projects in more than one country," it said in a report. "There are a number of developers active in single markets (predominantly China, India and the US) that have developed more capacity than some of the companies covered in this report."
Top of the list is First Solar with an operational capacity of 4,619 MW and in-development capacity of 4,802 MW. Adani has 788 MW of operational capacity and another 1,270 MW under development.
It "could potentially look to acquisitions to grow outside of India the company had been rumoured to be interested in the acquisition of Equis Energy," the report said.
Also Read
Adani Renewables is targeting 10 GW of installed renewable power by 2022. The company currently has 12 MW of operational wind assets, as well as 788 MW of solar PV.
"The top 15 companies have an additional 33.5 GW of announced projects in the pipeline," it said.
The report said the top 15 developers are globally diversified and 13 companies are active in developing projects in at least three regions around the world.
"Most of the largest developers are actively looking to develop projects outside of the well-established markets such as Europe and Japan that have provided much of the early growth in their portfolios. Very large-scale projects are now more achievable in emerging markets, particularly in the Middle East and Latin America," it said.
"This points toward an increasingly active secondary market for large-scale solar PV (photovoltaic) assets and an easy entry to the solar market for companies with money to spend," the report said.
Each of the top 15 global developers is actively participating in tenders for large-scale capacity around the world.
Disclaimer: No Business Standard Journalist was involved in creation of this content