Climate Changed
Exxon Will Use Wind, Solar to Produce Crude Oil in Texas
- Orsted to supply power from wind and solar farms in Permian
- Exxon 12-year contracts are largest ever for an oil producer
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Exxon Mobil Corp. will use renewable energy to produce oil in West Texas.
Under 12-year agreements with Denmark’s Orsted A/S, Exxon will buy 500 megawatts of wind and solar power in the Permian Basin, the fastest growing U.S. oil field. It is the largest ever renewable power contract signed by an oil company, according to Bloomberg NEF. Terms weren’t disclosed.