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€200m fund available to the renewables sector

By: Matthew White 17/07/2018 Vitol

Corporate General

Low Carbon and Vitol announce the closing of a Jersey-based fund, VLC Renewables, focussed on generating investment into renewable energy assets across Europe. It aims to do so with an initial €200m allocation.

It will initially target investments in both onshore and offshore wind and will invest in projects at various stages of the development cycle, including late stage development, construction and operation.

The Fund builds on Low Carbon’s knowledge in renewables and Vitol’s understanding of energy markets and commodity flows. The initial €200m has been committed by Vitol, and investment opportunities may be offered to third parties.

Roy Bedlow Chief Executive at Low Carbon said: “We are very pleased to close this new Fund. Partnering with Vitol, one of the largest energy companies in the world, will enable us to drive scale in the investment and development of clean energy.

“At its core, Low Carbon is committed to tackling climate change and reducing carbon emissions through its long-term investments into the green infrastructure space. We firmly believe it is possible to provide all the energy we need through renewable sources, and this fund will help us further our ambition.

“The market has a good mix of proven low carbon technologies and we are seeing strong deal flow for investments across our target sectors. We look forward to working with Vitol in identifying and closing new green infrastructure investments.”

Simon Hale, Investments at Vitol said: “By 2025 almost 27% of European electricity will be generated from wind and solar. As a major participant in Europe’s power markets and as a significant investor in energy infrastructure worldwide, Vitol is keen to build a portfolio of renewable investments to complement its existing activities.”

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€200m fund available to the renewables sector

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