European Firms Show How to Transition into a Clean Energy Business
Two European energy companies are offering a practical model for how fossil-fuel businesses can adapt to clean power, and their combined experience reveals both the scale of what's possible and the difficulty of pulling it off. Danish firm Ørsted and Spanish company Moeve have each undergone deep structural changes, reconceiving their identities as organizations rather than stopping at changes to their product mix. Of the two, Ørsted has made the more sweeping transformation, having operated as DONG Energy until 2017 when fossil fuels still made up 85% of its generation. That figure has since inverted entirely, with renewables now accounting…
