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NextEra Now More Valuable Than Exxon as Clean Power Eclipses Oil

  • Exxon shares slumped more than 50% in 2020 as oil demand wanes
  • ‘People believe that renewable energy is a growth story’

Photographer: Chris Ratcliffe/Bloomberg

NextEra Energy Inc., the world’s biggest provider of wind and solar energy, is now more valuable than oil giant Exxon Mobil Corp., once the largest public company on Earth.

NextEra ended Wednesday with market value of $145 billion, topping Exxon’s $142 billion. The oil major’s U.S. rival, Chevron Corp., also surpassed it in value for the first time.