QAZAQ GREEN.  Green energy companies traded on global stock exchanges have outperformed oil companies in revenue over the past nine months, according to Anadolu Agency.

As global markets reach new highs, expecting central banks to ease strict monetary policies, renewable energy companies are showing stronger profit performance than their oil counterparts.

Countries like China, the UK, and the US have driven renewable energy sector policies and budget allocations, which have in turn boosted green energy companies' stock values. In the first nine months of the year, the market value of major oil and gas companies—led by Saudi Aramco—dropped by $174 billion, while renewable energy companies saw a $291.4 billion increase.

The U.S. company NextEra Energy topped the list of green energy firms, reaching a market value of $172.3 billion. Spain’s Iberdrola followed with $96.7 billion, then the U.S. firm GE Vernova ($68.66 billion), India’s Adani Green Energy ($37.43 billion), and China’s Sungrow Power Supply ($24.92 billion).

NextEra Energy leads among green energy performers

NextEra Energy's stock rose by 28% this year, bolstered by the expansion of data centers driven by AI. Iberdrola's share price also rose 16% after acquiring British Electricity North West, supported by a $329 million sustainable energy loan from the International Finance Corporation (IFC) for renewable projects in coal-dependent countries like Morocco, Poland, and Vietnam.

GE Vernova, a company spun off from General Electric, reported a 15% stock increase by Q2. Recently, it signed a new cooperation agreement to supply 674 wind turbines for the SunZia Wind project in New Mexico. Adani Green Energy's shares rose 19% after signing a solar project agreement with TotalEnergies, and Sungrow Power Supply saw an 8.8% increase following a UK battery project contract and a major off-grid storage initiative in Saudi Arabia.

Among oil and gas giants, Saudi Aramco retained the highest market value at $1.739 trillion despite a 22% loss, mainly due to falling oil prices and share sales for liquidity. ExxonMobil, valued at $554.6 billion, saw a 15% increase after a landmark $60 billion acquisition of Pioneer Natural Resources and investment in carbon capture. Chevron’s value fell by 1% despite record Permian Basin production and a ramp-up in renewable diesel projects.

PetroChina’s stock rose 19% amid new incentives and continued investments in carbon capture, wind, and solar projects, while Shell’s shares dropped 1%, influenced by Europe’s recession, slowing demand in key markets, and new refineries affecting prices.

The energy sector is undergoing rapid transformation, with fossil fuel companies increasingly investing in green technology and low-carbon initiatives to adapt to shifting trends in global energy.