An American group focusing on renewable energies (ENR), NextEra Energy, is now worth practically as much on Wall Street as the oil major ExxonMobil and even more than Chevron, who on the contrary shun renewable energy.
The company, founded in 1925, is based in Florida, where it supplies electricity to more than 5 million customers.
It claims to be the largest producer of solar and wind energy in the world, and develops projects for battery energy storage systems.
It also owns nuclear and gas power plants.
Its market value exceeded that of ExxonMobil during trading on Friday before falling back a bit and ending at $ 137.7 billion against $ 139.4 billion for ExxonMobil and $ 132.9 billion for the another US oil giant, Chevron.
Yet NextEra Energy is far from achieving the same financial performance.
The Florida-based company reported 2019 sales of $ 19 billion, fourteen times less than ExxonMobil.
Its profit, nearly four times lower than that of the oil giant, is $ 3.8 billion.
The oil giant has suffered a lot since the start of the pandemic, however.
So much so that it was recently kicked out of the Dow Jones Industrial Average, the flagship index on Wall Street, where it had been present since 1928. In general, investors tend to bet on the renewable energy sector, considered to be the future as the fight against climate change has become a priority for many governments around the world.
