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The New Green Energy Giants Challenging Exxon and BP

by Bioreports
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A decade ago, NextEra, Iberdrola and Enel were sleepy regional utilities with little name recognition.

Now they are fast-growing giants with market values rivaling the likes of oil majors Exxon Mobil Corp. and BP PLC, thanks to their early all-in bets on wind and solar farms.

And still, many people have never heard of them.

Their early lead in the global transition away from oil has put these companies on track to become the major energy companies of the coming decades—the “green energy majors.” But they now face the threat of increased competition as some of the oil titans that have traditionally dominated the energy industry diversify into wind and solar power.

If the green majors are nervous about a coming clash, they aren’t showing it. NextEra Energy Inc. Chief Executive James Robo dismissed the idea that oil majors in the U.S. and Europe posed a competitive threat at an investor conference this fall, saying that the companies’ green projects were among the worst he had seen.

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