We have an expanding portfolio of renewable generation investments in the Americas, Asia and Europe
Renewables play an increasingly important role in the energy mix. They have reached an efficiency and scale where they can be used commercially, both in localised and large-scale grid projects.
Over time, our growing portfolio of projects will be well placed to meet the needs of the energy transition.
We develop renewable projects from greenfield to ready-to-build solar, wind and battery storage. Through these projects we provide reliable power to our commercial and industrial clients and utilities.
We use our trading expertise to offer bespoke proprietary hedging structures that only Vitol is able to offer like the Revenue Guarantee Agreement, or RGA, a trading instrument that guarantees a project receives a fixed amount of revenue per month, whether the wind blows or the sun shines and eliminates the basis risk for the project.
Invested in:
- - Solar & battery storage
- - Wind
- - Key renewable technology
“We’re investing because we strongly believe that battery storage is a key part of the renewables solution.”
Andrew De Pass
Head of renewables and sustainable investments, Americas
Interview with Andrew De Pass, head of renewables and sustainable investments, Americas
Vitol’s role is as a developer of renewable projects from greenfield through to ready-to-build solar, wind and battery. We prefer to build and own so that we can use our network to contract the power for commercial and industrial customers as well as utilities and work with our trading arm to optimise our investments.
We’re investing because we strongly believe that battery storage is a key part of the renewables solution.
Ocotillo Wells Case Study
Cutting 65ktCO2e emissions a year, Vitol constructed and operates the Ocotillo Wells Solar PV park in San Diego County, California
The facility has a capacity of 50MWAC, and includes a 4-hour battery storage system and is part of Vitol’s growing sustainable energy solutions, to enable companies across the US to source renewable energy to power their businesses.
Ocotillo Wells provides economic benefits to the local community in addition to the jobs created during construction and operations.
And offtake agreements with large corporates (e.g. Meta) and California Community Choice Aggregators (e.g. Ava Community Energy) ensure the long term viability of the project.
FlexGen Case Study
Technology will underpin the rollout of renewables globally to address intermittency and ensure customers have stable and reliable power
That's why Vitol is an anchor investor in FlexGen, a leading integration services and software technology provider for energy storage solutions globally. FlexGen’s energy management software platform, HybridOS, allows energy storage owners to deploy various market strategies and combine storage solutions with any form of power generation.
The integration of energy storage requires software and technological solutions that will play a critical role in the adoption of renewables at scale.
Vortex Case Study
Vitol acquired Vortex Energy in January 2023
A pioneer in the renewables sector in Poland, the company is driven by a diverse team of experts offering a full suite of services through the lifecycle of the asset. This includes developing greenfield wind and solar projects through to providing construction and operational management services.
At the beginning of 2024 Vortex commenced construction of a portfolio of projects, including 53 MW of onshore wind and 57 MW of PV solar with a total equity commitment of approximately $123m.
The completed PV and wind projects will provide around 180 GWh of energy annually, covering the needs of 93,000 households and cutting around 126,000 tons of CO2 emissions from fossil fuels each year.
Associated companies
