Businesses are buying more renewable power, and oil majors want a piece of the action.
European oil companies including BP PLC and Royal Dutch Shell PLC are building new wind and solar projects and striking deals to supply electricity to big corporate buyers like Amazon.com Inc. and Microsoft Corp. , treading into the domain of traditional power companies.
The moves come as more businesses look to limit their carbon emissions, with companies buying a record amount of renewable power last year and on track to hit a fresh high this year, according to data from BloombergNEF.
