Oil Giants Own Just 1.5 Per Cent Of Global Renewables

15 Oct 2025 CW Team

The world’s largest oil and gas producers are involved in less than 1.5 per cent of renewable energy projects globally, according to a new study by researchers at the Autonomous University of Barcelona, Spain.

The study examined 250 of the world’s biggest oil and gas companies, which together account for 88 per cent of global hydrocarbon production, and assessed their participation in 3,166 renewable energy projects, including wind, solar, hydro, and geothermal ventures.

“We find that the largest 250 oil and gas companies only own about 1.42 per cent of global renewable energy capacity currently in operation,” the authors wrote in the study published in the journal Nature Sustainability.

The findings highlight the limited role of fossil fuel majors in the global energy transition, underscoring that despite public commitments to sustainability, most major producers remain heavily invested in hydrocarbons while contributing minimally to renewable capacity expansion.

The research adds to growing calls for accelerated diversification in the energy sector as nations push towards net-zero emissions and greater climate accountability from legacy oil and gas companies.

Infrastructure Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..

Waaree Energy Storage Raises Rs 10.03 Billio for 20 GWh Plant

Waaree Energy Storage Solutions Private, a subsidiary of Waaree Energies, has recently completed a strategic fund raise of around Rs 10.03 billion from a group of strategic investors, including family offices, high-net-worth individuals and institutional backers. The funding strengthens the company’s position in India’s rapidly expanding energy storage ecosystem.The capital raise forms part of an announced capital expenditure programme of nearly Rs 100 billion for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The plant will manufacture high-performa..