Solar Farm Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to solar farm market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Solar Farm Market News

  • In January 2025, Singaporean Sembcorp Industries opened a 588 MW solar power plant in Oman, its first Middle East greenfield renewables development. The facility covers an area of 6.8 million square meters and involves the use of more than one million bifacial photovoltaic panels, offering clean energy to around 60,000 homes.
  • In July 2024, EDP Renewables (EDPR) expanded into Japan by initiating a 44 MWp solar farm in Fukushima Prefecture. Spanning 60 hectares and featuring more than 63,000 solar panels, the project is projected to produce more than 47 GWh per year, enough to supply energy to more than 11,800 Japanese homes by its expected go-live date in Q3 2025.
  • In September 2024, Q ENERGY laid the foundation of the 52 MWp "Cabrovales 1" solar farm project in Extremadura, Spain. Committed to beginning operations by the year 2025, the plant will encompass more than 96,000 solar modules including a tracker system, providing power to around 27,000 homes and curtailing CO₂ emissions by a total of nearly 23,000 tonnes annually.
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Global Solar Farm Market size was valued at USD 229.68 Billion in 2023 poised to grow from USD 261.31 Billion in 2024 to USD 733.45 Billion by 2032, growing at a CAGR of 13.77% in the forecast period (2025-2032).

The global solar farm market has a competitive market landscape dominated by innovation, strategic alliances, and expansion geography. Some of the major international players involved are First Solar, Canadian Solar, Trina Solar, JinkoSolar, and LONGi Green Energy. First Solar emphasizes cutting-edge thin-film technology, and Canadian Solar's emphasis is on integrating energy storage. JinkoSolar and LONGi are expanding globally through low-cost, high-efficiency modules and vertical integration to enhance supply chain resilience and cost control. 'First Solar (USA)', 'Canadian Solar (Canada)', 'Trina Solar (China)', 'JinkoSolar (China)', 'LONGi Green Energy Technology (China)', 'SunPower Corporation (USA)', 'Enel Green Power (Italy)', 'Tata Power Solar Systems (India)', 'Risen Energy Co., Ltd. (China)', 'Hanwha Q CELLS (South Korea)', 'EDP Renováveis (EDPR) (Portugal)', 'Acciona Energia (Spain)', 'Sungrow Power Supply Co., Ltd. (China)', 'BayWa r.e. Renewable Energy GmbH (Germany)', 'Scatec ASA (Norway)'

With rapid industrialization and urbanization, global energy consumption is shooting up. Solar farms represent a clean, scalable solution to supply it sustainably. More countries are investing in solar infrastructure to diversify the sources of energy, cut down on fossil fuel dependency, and achieve long-term energy security and accommodate environmental and climate issues.

Rise of Hybrid Solar Projects with Energy Storage: One of the major global solar farm market trends is the combination of battery energy storage systems (BESS) with solar farms. These hybrid technologies improve grid stability, facilitate energy dispatch during peak demand, and aid in renewable energy penetration, particularly in smart grid and decarbonization strategies adopted by regions.

How is Grid Integration Improving Solar Energy Efficiency in North America?

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Global Solar Farm Market
Solar Farm Market

Report ID: SQMIG55F2076

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