Oil and gas majors moving aggressively into renewables must build and not buy their way in, or their contribution to global carbon reduction efforts will be significantly limited, RWE’s CFO Markus Krebber has said.
Corporate solar funding fell by 25% year-on-year to US$4.5 billion in the first half of 2020, but the decline could have been much starker, new analysis by Mercom Capital has found.
Paris-based group will fund 25GW-by-2025 green energy goal with 'highest capex share of all O&G majors' even as oil market crisis takes sizeable bite of Q1 2020 financials.
Deal announced in January to become Iberia’s ‘largest solar power player’ by sponsoring 2.9GW portfolio will go ahead despite slashing expenditure as COVID-19 sends oil prices crashing.
Group rolls out COVID-19 precautions as it starts building 126MW trio in Ciudad Real and expects to break ground on 264MW PV project in Extremadura in ‘coming weeks’.
Crash of crude prices as virus tightens global grip may create challenges for firms relying on oil revenues as they finance a shift to green energy, IEA warns.