Winds of change: how Enel and Iberdrola powered up for the energy transition

European oil giants such as BP, Royal Dutch Shell and Total have sharpened their focus on power, seeing it as the sector to build their businesses around as they reinvent themselves as clean energy suppliers.

MILAN/MADRID: Europe’s biggest utilities Enel and Iberdrola saw the clean energy transition coming decades ago when others baulked at the high cost of producing energy from the sun and wind and instead stuck with coal and oil.

Thanks to early decisions to buy power grids and build renewable plants, the once-staid utilities are now among a handful of global green energy majors going into battle with Big Oil to supply low-carbon power full of confidence.

European oil giants such as BP, Royal Dutch Shell and Total have sharpened their focus on power, seeing it as the sector to build their businesses around as they reinvent themselves as clean energy suppliers.

Source: Reuters