Exxon Mobil inviting bids for clean energy expansion in Texas

Exxon Mobil inviting bids for clean energy expansion in Texas

/ Renewables / Sunday, 09 September 2018 09:59

US oil colossus Exxon Mobil, which the largest oil company in the United States has formally announced that it is inviting proposals and bids to buy and expand its renewable energy operations in Texas.

The company’s PR team sent out an official request for proposals, and provided Lone Star State wind and solar companies with a deadline of June 8th, 2019 to submit and pitch their contracts.

A report which was published by Bloomberg has claimed that Exxon Mobil will be seeking the contracts with the terms that would last 12, 15, or 20 years. The oil behemoth which is headquartered in Irving will be looking for projects of at least 100MV and some sources close to the company have stated that it would consider looking at proposals for over 250MV production per-year. That is enough to power over 41,000 households.

If industry analysts are correct then this move by Exxon Mobil would represent one of the largest corporate PPAs (Power Purchase Agreement) anywhere. The move is indicative that renewable energy is now paving a way towards cost competitiveness as the efforts could be seen through Exxon Mobil to show a commitment toward sustainability without undergoing economic suffering.

Exxon Mobil when contacted in relation to this request declined to make any further comment which therefore suggests that there is still a degree of ambiguity regarding whether the firm has penned an agreement with any supplier to purchase power of whether it is seeking the electricity for its own use.

It has been reported that Exxon has been actually slow to follow its rivals BP Plc and Royal Dutch Shell Plc in terms of harnessing renewable energy technologies.

For the record, in the recent years, the number of companies betting big on purchasing renewables continues to expand at a significant rate. According to the BNEF, excluding the utilities, several agencies and companies agreed to purchase around 7.2 gigawatts of renewable & clean energy by July 2018, beating the record of 5.4 gigawatts for all of 2017 worldwide.

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