News came out of France last week that, although net 2017 profit rose, EDF saw its revenue slide from $88.3 billion to $86.7 billion, a decline that occurred largely in its traditional energy sectors such as nuclear. This was combined with an announcement that the French energy giant would invest more than $31 billion in solar in the coming years. In other words: renewables (and storage) are where the future growth opportunities lie. Many European Energy Giants Seeing the LightIn fact, a number of the larger European energy companies are making moves to embrace and propel the sustainable emerging energy economy. Shell currently spends between $1 and $2 billion dollars on clean energy..For its part, France’s Total recently took a 23% stake in the renewable energy firm Eren (which owns a portfolio of 650 MW of solar, wind and hydro assets) for $294.5 million.

Source: Forbes February 20, 2018 14:03 UTC