I would agree to a point. But that may change.
The "legacy" energy producers have already began the switch to renewables. Most believe the demand for refined petroleum, at least domestically, has already peaked. So these companies have already began investing hundreds of millions if not billions in renewable. The problem, for the legacy producers, is that the return on capital is less for renewables. The average return for a typical oil project is about 15%, for renewables is in the 8-10% range.
Will the legacy producers continue to get investors. Exxon Mobil was dropped from the Dow Jones, and the energy sector is the smallest component in the S&P 500. There are already smaller companies producing renewables. Why pour money into the legacies while they attempt to prove a new concept when there is already a player making money in that sector. On the other hand, the legacies have the balance sheet to invest more and faster than the smaller, newer companies. The have the knowledge of what worked for the smaller companies, so the learning curve shouldn't be as steep or expensive. These larger companies should be well suited to manage these big products.