Vitol to Acquire Wind Farms Totalling 244.4 MW from BlackRock

Source: www.gulfoilandgas.com 4/13/2022, Location: North America

Vitol announces it has agreed to acquire three operating wind farms in Pennsylvania totalling 244.4 MW from a fund managed by BlackRock, for an undisclosed sum. The Highland North, Twin Ridges and Patton wind farms will be acquired by Vitol affiliate, Vitol PA Wind LLC. 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 US, with a total US renewable portfolio approaching 1 GW.

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. The addition of these wind farms, combined with Vitol’s solar footprint, mean Vitol is well positioned to offer commercial and industrial (C&I) customers looking for green power solutions a renewable generation offering that better matches C&I load in the region.

Andrew de Pass, head of renewables, Vitol Inc. said: “This marks a big step in the development of our US renewables portfolio which has almost reached 1 GW of capacity. 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.”


Nigeria >>  7/1/2022 - ADM Energy PLC, a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil fie...
Norway >>  7/1/2022 - Rex International Holding Limited (“Rex International Holding”, “Rex” or the “Company”, and together with its subsidiaries, the “Group”), a technology...

Norway >>  7/1/2022 - The farmin agreement with OMV (Norge) AS ("OMV"), which was first announced on May 9, 2022, has now been concluded, according to Longboat Energy, an u...
Canada >>  6/30/2022 - STORAGEVAULT CANADA INC. (“StorageVault”) is pleased to announce that, further to its May 12, 2022 news release, it has completed the acquisition of 6...

Nigeria >>  6/30/2022 - Reference is made to previous stock exchange releases by PetroNor E&P ASA (“PetroNor") regarding the acquisition of Panoro Energy ASA’s (“Panoro”) int...
United States >>  6/30/2022 - U.S. Energy Corp. has entered into an agreement (the “Agreement”) to acquire operated oil and gas producing properties in an all-cash transaction (the...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.