A Waste of Energy? The Big Shift to Renewables.

A Waste of Energy? The Big Shift to Renewables.

The fast-growing online finance community ‘Finimize’ recently brought together a panel of industry insiders to discuss the future of renewable energy in a world still powered predominantly by oil and gas. While the event was aimed primarily at investors, it provided an interesting insight into the feasibility of the energy transition.

Panellists included Forbes Mitchell, a member of Saudi Aramco Energy Ventures (SAEV) Europe, Rebecca Williams, a Policy Manager at the renewable energy trade association RenewableUK, and Bas Sudmeijer, a partner and managing director at Boston Consulting Group. While the latter two share a positive outlook on the ability of renewables to undercut and disrupt the market for traditionally-sourced energy, Forbes Mitchell believes that industry giants such as Saudi Aramco, will remain profitable investments for the foreseeable future.

Investing in renewable energy

The panellists laid out the current themes influencing energy markets -  increases in global demand for energy, growing awareness of the risks associated with warming climates, carbon pricing, and the rapid growth and resulting drop in prices of commercial-scale renewable energy generation – all of which represent underlying risks to the oil and gas industry that are now being priced into its valuation.

Next, barriers to a successful transition to renewable energy were discussed – the huge financial cost of sunk assets, the

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About the author:
Katrina is a paralegal in the LexisPSL Energy and Environment teams. She recently graduated with a law degree from Durham University, where she was a student member of the Durham Energy Institute and the UK Environmental Law Association. As part of her course Katrina also completed a dissertation entitled ‘Shareholder Primacy over Planetary Security: how the Companies Act 2006 fails to bring about corporate action in the face of climate change’, which has since been published in the Durham Law Review.