EnCap Investments LP, a private-equity firm with a decades-long history of investing in oil and gas, is now adding renewables to its portfolio.

The Houston-based firm said Sept. 23 it formed an “energy transition” team to pursue opportunities created by the global transition to a lower-carbon energy system. Investment targets range from solar and wind generation to battery storage systems.

EnCap’s announcement comes at a time of growing demand for the industry to take climate change action. Similarly, on Sept. 23, a group of 13 major oil companies, that included U.S.-based Exxon Mobil Corp., Chevron Corp. and Occidental Petroleum Corp., charted out a plan to promote carbon-capture investments.

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