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Vitol acquires three U.S. wind farms from BlackRock

Dutch energy and commodity trading company Vitol has agreed to acquire three operating wind farms in Pennsylvania totalling 244.4 MW from a fund managed by BlackRock, for an undisclosed sum.

Image: PixabayImage: Pixabay

The Highland North, Twin Ridges and Patton wind farms will be integrated into the existing renewable energy capacity in the U.S. approaching 1 GW. The transaction is expected to close later this quarter and is subject to standard closing conditions and customary regulatory approvals. When combined with Vitol’s Big Sky Wind farm, Vitol will have almost 500 MW of wind capacity in the U.S.

Vitol’s objectives are to repower two of the three sites, subject to the relevant approvals, and invest significant capital in the latest wind technology to increase annual energy production and extend the life of the wind farms.

Andrew de Pass, head of renewables, Vitol Inc. said: “We continue to pursue our strategy of investing in assets where our expertise and capital enable us to add value to assets and our partners. On completion, we will be invested in over 1.5 GW of renewable generation, as well as a growing portfolio of innovative sustainable energy solutions, from hydrogen, bio-methane and waste plastic recycling, to carbon capture and storage; demonstrating Vitol’s commitment to participate proactively in the energy transition.”

Windfair Editors
Vitol, USA, wind farm, repower, capacity, renewable energy, portfolio, MW, sum, acquisition, BlackRock, fund

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