Clean energy companies across the world are climbing rapidly in value, and some have become more valuable than the classic oil and gas giants. According to E&E News, NextEra Energy Inc., a Florida-based power company and the world’s largest generator of wind and solar electricity, is now worth $138 billion. That’s more than the likes of Royal Dutch Shell PLC ($112 billion), BP PLC ($71 billion), and ConocoPhillips ($40.1 billion).
“We think we’re going to see a new category of companies called wind and solar majors,” said Sam Arie, a research analyst at UBS, the Swiss investment bank. “They’re on the way to being the size of the oil majors.”