The world’s largest solar and wind power generator, NextEra, is now more valuable on the stock market than ExxonMobil. ExxonMobil lossed more than half of its market value in the last year, while NextEra has steadily increased profits and value over the past couple of years with the pandemic accelerating this trend.
NextEra replacing the once-largest company in the world by market cap, ExxonMobil, signals the maturity of clean energy in the United States. While other energy markets have seen such shifts already, the United State’s largest renewable energy generator surpassing its largest fossil-fuel energy generator could mark a true changing of the guards and accelerate the global energy transition.
Market valuations can be deceiving, but NextEra’s profits, $1.7b in the first half of 2020, trending firmly upward is hard to dismiss. Does this mark the U.S. energy as fully oriented towards renewables? If so, will we see even faster renewable investment and deployment in the U.S. or will fossil industry giants like ExxonMobil and Marathon continue to fight for market share?
Clean energy group NextEra surpasses ExxonMobil in market cap https://www.ft.com/content/39a70458-d4d1-4a6e-aca6-1d5670bade11
Another Win For Clean Energy: NextEra Surpasses ExxonMobil In Market Cap https://cleantechnica.com/2020/10/05/another-win-for-clean-energy-nextera-surpasses-exxonmobil-in-market-cap/