Aerial photo taken on Sept. 4, 2018 shows a photovoltaic power plant in Loufan County, Taiyuan City, north China's Shanxi Province. In recent years, the county has vigorously developed and utilized solar energy by building photovoltaic power plants on barren mountains. (Xinhua/Cao Yang)

A total of 207 Chinese companies made the list of 2020 global top 500 new-energy enterprises this year, outnumbering the US’ 69 companies in the second spot, and Japan’s 54 companies in third, according to a report released by the China Energy Economy Research Institute at the 2020 Global Top 500 New-Energy Enterprises Summit on Friday.

Ge Power, a US power giant, moved from last year’s fifth ranking to first, followed by China’s GCL Group and Denmark-based Vestas in second and third place, respectively, said the report.

The total revenue of the Top 500 companies in 2020 is expected to reach 4.2 trillion yuan, a year-on-year increase of 11.05 percent, with 2.2 trillion yuan expected in developed countries, read the report.

The average revenue of Chinese companies in the list is 7.7 billion yuan, an increase of 17.6 percent year-on-year, according to the report.

The minimum revenue of the Top 500 companies in 2020 is 1.56 billion yuan ($236.07 million), an increase of 9.21 percent year-on-year, mainly because of growth in installed wind capacity and the energy storage industry, it said.

Among the Top 500 companies, there are 90 solar energy companies, 81 energy storage companies, 51 biomass energy companies, 36 wind energy companies, and two hydrogen and two geothermal energy companies, the report said. The remaining in the list is enterprises with different new energy businesses.