We are leveraging our expertise to enable customers to transition to more sustainable power solutions, and supporting the development of renewable projects with financing and market access.
We are investing in transitional gas-fired power to facilitate the roll out of renewables in the near term.
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.
Vitol has 3.3 GW of thermal generation capacity in the UK, held through our power generation company VPI, which is expanding into Ireland with the construction of a 275 MW Open Cycle Gas Turbine (OCGT) power plant in County Westmeath, Ireland. Whilst its largest plant, the highly efficient combined heat and power plant Immingham, is must run, the majority of the portfolio is intended to complement the roll out of renewables.
Deploying our financial strength and strong balance sheet to facilitate business solutions
Providing stability and certainty to customers by managing market volatility on their behalf
Enabling our partners and customers to benefit from our extensive and expert access to energy markets
Enabling our customers to access renewable power solutions for their business