Oil giants Shell and BP believe their large balance sheets will allow them to become major players in the renewable energy market , as a global move away from subsidies for large - scale renewable energy projects plays to the influx of new heavily funded entrants from the oil and gas sector . Both giants are already undertaking projects in the renewable sector , and believe that the market shift away from subsidies and revenue certainty will pose challenges for existing developers .
Oil giants Shell and BP believe their large balance sheets will allow them to become major players in the renewable energy market, as a global move away from subsidies for large-scale renewable energy projects plays to the strengths of new heavily funded entrants from the oil and gas sector. Both companies are already undertaking projects in the renewable sector, and believe that the market shift away from subsidies and revenue certainty will provide challenges for existing developers.