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Shell Leads Big Oil in the Race to Invest in Clean Energy

  • European majors close many more deals than their U.S. rivals
  • Digital and efficiency technologies become popular targets
Enel Don Jose Solar Plant As Uncertainty Clouds Outlook For Renewable Energy Market Under AMLO
Photographer: Alejandro Cegarra/Bloomberg
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Major oil companies are poised to do a record number of clean-energy deals this year, with Royal Dutch Shell Plc leading a group of European companies that are well ahead of their U.S. rivals.

The data compiled by BloombergNEF underscore the quickening pace of the transition to low-carbon energy among the world’s largest fossil fuel producers, and the scale of the trans-Atlantic divide. European majors closed seven times as many deals with renewable-electricity and storage companies as their U.S. counterparts since 2010.