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Oil Majors Look to Fill Businesses’ Growing Appetite for Green Power

THE WALL STREET JOURNAL

Oil Majors Look to Fill Businesses’ Growing Appetite for Green Power

By Sarah McFarlane: May 24, 2021 7:00 am ET

Businesses are buying more renewable power, and oil majors want a piece of the action.

European oil companies including BP PLC and Royal Dutch Shell PLC are building new wind and solar projects and striking deals to supply electricity to big corporate buyers like Amazon.com Inc. and Microsoft Corp., treading into the domain of traditional power companies.

Oil companies say securing long-term deals to supply electricity will provide a new source of income and underpin their expansion into wind and solar power as they seek to reduce their dependence on fossil fuels and prepare for a lower-carbon economy.

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