Only One Oil Major Is Betting Big On Renewable Energy

Investments in solar and wind energy projects by the world’s oil majors over the next five years are expected to reach $17.5 billion, a Rystad Energy analysis finds. But a closer look at the numbers reveals that some $10 billion, or 57% of the amount, is expected to be invested by a single company, Equinor, the only investor whose majority of greenfield capex will be towards renewable energy. Equinor, the Norwegian state-controlled energy giant, will drive renewable investment among majors, spending $6.5 billion in the next three years to…