Transitioning to sustainable energy by incumbent utilities: insights from M&As, alliances, and divestments
研究了1990至2019年间19家欧洲能源公用事业公司的8967笔交易，揭示它们何时及如何投资可持续资源并剥离化石燃料资产，发现财务资源、可持续经验、公有产权和国际跨行业合作是关键因素。
Abstract Energy utilities play an important role in transitioning to a sustainable energy industry. Data on 8967 transactions by 19 European energy utilities from 1990 to 2019 illustrate when and how utilities invest in sustainable resources and divest traditional resources such as fossil-fuel plants. Utilities transitioning to sustainable energy have greater financial resources and experience with sustainability, are publicly owned, and access sustainable resources of international and inter-industry partners. Utilities adopt a diversified strategy of balancing sustainable and traditional resources.