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Vortex Energy has already constructed more than 400 MW of solar and wind-related projects
2023-01-12
Vitol, a top energy and commodities company based in the Netherlands, has just concluded a deal to acquire Poland's leading renewable energy developer Vortex Energy. The firm boasts an impressive development pipeline of over 3 GW. This marks Vitol's first venture into Europe's renewables market and it plans to invest up to USD 1 billion (EUR 960 million) over the next five years across the country with an overall goal of committing USD 2.2 billion towards sustainable energy projects worldwide.
Currently, Vortex Energy has already constructed more than 400 MW of solar and wind-related projects. Justine Ryan, Director of Renewables for EMEA at Vitol, expressed enthusiasm for the acquisition and added that they will look to further expand their presence in the renewables sector by exploring other clean energy opportunities in the region.
Within the next year, Vitol will begin construction of over 120 MW of photovoltaic and onshore wind projects. The purchase is being made from VH Invest, though no details have been released regarding how much was spent for the acquisition. It is expected to be finalized sometime during the first half of 2023.
Vitol, a top energy and commodities company based in the Netherlands, has just concluded a deal to acquire Poland's leading renewable energy developer Vortex Energy. The firm boasts an impressive development pipeline of over 3 GW. This marks Vitol's first venture into Europe's renewables market and it plans to invest up to USD 1 billion (EUR 960 million) over the next five years across the country with an overall goal of committing USD 2.2 billion towards sustainable energy projects worldwide.
Currently, Vortex Energy has already constructed more than 400 MW of solar and wind-related projects. Justine Ryan, Director of Renewables for EMEA at Vitol, expressed enthusiasm for the acquisition and added that they will look to further expand their presence in the renewables sector by exploring other clean energy opportunities in the region.
Within the next year, Vitol will begin construction of over 120 MW of photovoltaic and onshore wind projects. The purchase is being made from VH Invest, though no details have been released regarding how much was spent for the acquisition. It is expected to be finalized sometime during the first half of 2023.