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The Largest U.S. Oil Company Wants To Buy Cheap Renewable Energy

By Koty Neelis

Exxon Mobile Corp, the largest oil company in the U.S., has been looking for renewable energy for delivery in Texas, according to a report by Bloomberg.

Based in Irving, Texas, Exxon is seeking at least 100 megawatts and would consider proposals for more than 250 megawatts. In a document obtained by Bloomberg, the oil company has invited solar or wind power suppliers to pitch contracts that would last 12, 15, or 20 years. 

“If you’re seeing the biggest oil and gas companies going out and making investments in clean energy, it shows that renewables are cost-competitive. This can be a way for them to show a commitment to sustainability without suffering economically," said Kyle Harrison, a New York-based analyst at Bloomberg NEF.