Forecast battery storage capacity by company

China is the global leader in the battery storage sector, with some of the largest projects as of 2024. China's CNNP Rich Energy had 11.8 gigawatts of capacity installed or under construction. By comparison, the United States-based Hecate and NextEra were planning to reach approximately 10 gigawatts each of battery storage capacity by 2026, with projects in the U.S. and Canada.

Projected battery storage capacity worldwide in 2024, by leading investor (in gigawatts)

Investor (headquarter location)	Capacity in gigawatts
CNNP Rich Energy (China)	11.8
Hecate Energy (North America)	10.9
NextEra (North America)	9.8
CGN Wind Energy (China)	8.5
State Power Investment (China)	6.8
Engie* (Europe)	6.3
Huadian New Energy (China)	5.6
China Energy Investment (China)	5.6
Solar Proponent (North America)	5.5
NEOEN (Europe)	4.3
RWE (Europe)	4
Enel (Europe)	4
Akaysha Energy (Australia)	2.8
Terra-Gen (North America)	2.4
AES (North America)	2.2
EDF (Europe)	2
AGL Energy (Australia)	1.5
CEP Energy (Australia)	1.2

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Release date

April 2024

More information

Region

Worldwide

Survey time period

2024

Special properties

*Includes assets of the U.S. companies Broad Reach Power and Belltown, recently acquired by Engie.

Supplementary notes

Includes installed capacity, projects under construction, and projects at an advanced stage of development that are likely to be commissioned in the next couple of years. Includes stand-alone battery and battery projects coupled with renewable energy systems.

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