America’s largest oil company is seeking proposals to expand renewable energy operations in the Lone Star State.
As Bloomberg reports, Exxon Mobil Corp. has sent out a request for proposals, asking Texas solar and wind companies to pitch contracts to the energy giant. Exxon is seeking contracts with terms of either 12, 15, or 20 years.
Exxon Mobil is based in Irving, Texas, and the company says it will consider contracts ranging up to 250 megawatts of production per year. That’s enough to power roughly 41,000 homes.
Kyle Harrison, a New York-based analyst, noted that the move proves that renewable energy is now cost competitive. The effort could be seen as a way for Exxon Mobil to “to show a commitment to sustainability without suffering economically.”
The deadline for the contracts to be submitted is June 8, 2018.