The New Energy Giants Are Renewable Companies

SourceBloomberg
SectorOil & Gas
CountryGCC

Meet the clean supermajors. They have the clout and financial might of the energy behemoths that plumbed the world over for oil and gas before them. But instead of digging mines and drilling wells, they’re leading the race to electrify the global economy. These four companies—Enel, Iberdrola, NextEra Energy and Orsted—prioritized the building or buying of clean-power plants when those assets were still considered alternative and expensive.

Now they’re on the cusp of a breakthrough. Ever-cheaper solar panels and wind turbines are beginning to dominate new power installations, threatening the growth of natural gas on our power grids and upending energy markets. Electrifying the Global EconomyRenewable capacity in major power marketsIberdrola Enel NextEra Orsted Note: Map shows only disclosed capacities per country Sources: NextEra Energy, Orsted, Iberdrola, Enel China has also shifted its biggest state-run energy companies toward renewables. In 2017, it formed China Energy Investment Corp. by merging two state-owned giants. The company has close to 40 gigawatts of renewable power generation capacity, according to BloombergNEF, more than any of the European and American majors. Coal is still a huge part of ...read more...