NextEra tops ExxonMobil market capitalization as clean energy transition continues

first_imgNextEra tops ExxonMobil market capitalization as clean energy transition continues FacebookTwitterLinkedInEmailPrint分享Renew Economy:In yet another sign of the pace of the global energy transition – and the massive switch taking place in the investment community – the market value of [a] company that describes itself as the world’s biggest producer of wind and solar power, US utility NextEra, has overtaken that of what used to be the world’s most valuable company, oil major ExxonMobil.The flip occurred last week, when NextEra overtook ExxonMobil to become the largest energy company in the US by market value. As Forbes reported, an investment in NextEra a decade ago would have delivered to return of 600 per cent, while an investment in ExxonMobil would have returned minus 25 per cent.The shift is as significant as the one the world has seen in the auto industry, with electric vehicle maker Tesla overtaking the biggest car companies in the world in the last year, to the point where it is now valued at more than the next five biggest global car makers combined, despite producing just a fraction of the number of cars.“Epochal,” noted energy commentator Assaad Razzouk. “World’s largest solar and wind power generator has just surpassed ExxonMobil – a byword for Big Oil that was once the world’s biggest public company – in stock market value.”The Financial Times also took a look at the situation. It noted that NextEra reported net profit of $US1.7 billion in the first half of this year and that its wholesale customers had signed up for 14.4 gigawatts worth of renewable capacity, almost triple the amount of two years ago. Over the same period, ExxonMobil reported a loss of $US1.7 billion and found itself kicked off the Dow Jones Industrial Average, the blue-chip stock barometer which attracts institutional investors.[Giles Parkinson]More: World’s biggest wind and solar producer now worth more than ExxonMobillast_img read more

Monaco Send Onyekuru on Loan to Galatasaray again

first_imgHe scored 14 goals in 35 appearances for Galatasaray who went on to win the Turkish championship.Monaco, who signed the Nigerian for €17 million during the summer, have not included an ‘option to buy’ clause in the loan, suggesting that Onyekuru remains a part of their long-term strategy.Since his arrival in the principality, Onyekuru, who joined Monaco on a five-year deal, figured in just four matches under Leonardo Jardim who was sacked just after Christmas and replaced by ex-Spain boss Roberto Moreno. He hasn’t played in Ligue 1 since September 29.The loan signing ceremony which held at the Florya Metin Oktay Facilities was attended by Galatasaray President Mustafa Cengiz and Vice President Abdurrahim Albayrak.Galatasaray have paid Monaco a loan fee of 750,000 euros for the services of Onyekuru and the winger will earn 650,000 euros (N253.5 million) for the second half of this season, the club’s official website further announced .In his first words after signing the deal, Onyekuru said: “I am very happy to return to my house. This is my house. I hope we’ll be champions. I am very pleased and excited to be here.Galatasaray President Cengiz confirmed that the Nigeria international rejected other offers in favour of a return to the Istanbul club.Onyekuru helped the Lions win the League and Cup whilst on loan from Everton last season, scoring 16 goals in 44 games across all competitions while producing six assists.For the remainder of the 2019-2020 season, the former Eupen star will wear the number 70 jersey.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Monaco’s exciting young Nigerian striker Henry Onyekuru is to spend the rest of the season on loan at Galatasaray, the Ligue 1 club announced yesterday.The Turkish Super Lig champions announced Onyekuru’s second loan spell with them on their official club website yesterday.It will be the 22-year-old’s second loan spell in Turkey as he shone for Galatasaray last season when he was still at English club Everton.last_img read more