After a lot of fits and starts, we are finally seeing the biggest conventional energy companies in the world get serious about making a play in cleantech, renewables and distributed energy.
In 2016, Total invested $1.1 billion in French battery maker Saft. Shell created a new wind energy division. And we saw a bunch of project-related investments from smaller oil and gas companies. In addition, the largest power providers – pretty much every company you can imagine – scaled up their energy services arms to focus on distributed, renewable energy.
This week, we’re looking at what is behind that trend. Why now? And how will it continue in 2017?
GTM is now a part of this trend too. Earlier this year, we were acquired by Wood Mackenzie, a global research, modeling and consulting company that focuses on global energy markets, mining and metals. Their reasons for acquiring GTM echo the reasons big energy companies are investing in cleantech companies. And that feeds into the broader conversation we’re going to have today.
We're speaking with William Durbin, the executive vice president for global research at Wood Mackenzie, about how the ground is shifting underneath the world's top energy companies.