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NextEra Reached a Value of $138.6 Billion in the Market, Surpassing Oil Company ExxonMobil, Another American Multinational.
Something that would have been unimaginable a decade ago happened last Friday (092/10), NextEra, the world’s largest solar and wind energy generator, surpassed ExxonMobil in market capitalization to become the largest energy company in the USA. DISA Petroleum Acquires All Assets of Petrobras Uruguay for $61.7 Million
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NextEra reached a value of $138.6 billion in the market, surpassing the oil company Exxon Mobil, another American multinational, which at the same time was valued at $137.9 billion.
Exxon is the most valuable oil company in the world. This is the first time this has happened. By the end of the week, ExxonMobil’s value was back at the top, but if trends are any indication, this position will be temporary.
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How Did This Happen?
The fall of ExxonMobil is, more than anything, a function of the ongoing Covid-19 pandemic. Although the company’s performance in the decade preceding 2020 had been somewhat lackluster, it was still valued at just over $300 billion when the year began.
Nine months later, that value is $140 billion as the company faces a decline in energy demand caused by the pandemic.
About NextEra, Solar and Wind Energy Provider
Based in Florida, NextEra has more than 200 power generation facilities spread across the United States. The vast majority are solar or wind, with about 10 from other sources such as natural gas, nuclear, and oil.
Its predecessor, FPL (Florida Power & Light Company), began focusing on renewable sources in the 1980s and celebrated its first day of power supply without using oil in 1985.
In 2009, the company adopted its current name, NextEra. Its market value has been steadily increasing and advanced by about 66% in just the last two years, according to S&P Global Market Intelligence.
