Plans to invest $250+ million to repower and increase clean energy output by 60% by YE 2022
Vitol today announces the acquisition of the 240MW Big Sky Wind operating wind farm from a fund managed by BlackRock for an undisclosed sum. Big Sky Wind will be acquired by Vitol affiliate Vitol Wind I LLC. The acquisition will be the company’s first large US wind generating asset and adds to its growing renewables portfolio, in the US and globally.
Vitol will invest over $250 million, in addition to the purchase price, to ensure Big Sky Wind benefits from market leading technology. The repowering of Big Sky Wind will increase its annual energy output by 60% by year end 2022 and will entail the installation of new highly efficient Vestas wind turbines, using the existing foundations and towers.
Big Sky Wind is located in the PJM territory in Bureau and Lee Counties in Illinois and is well placed to deliver clean energy to commercial and industrial (C&I) customers, as well as the highly liquid PJM power market.
Big Sky Wind takes Vitol’s renewable generation capacity in the US to over 700 MW of wind and solar projects in operation or development. In addition, Vitol has a significant US portfolio of renewable natural gas plants, which generate in excess of 1900 mcf/day.
Ben Marshall, Head of Vitol Americas, said: “Vitol intends to be an active participant in the energy transition. Big Sky Wind illustrates how we will deploy our significant capital and expertise across all energy solutions to achieve this. We are actively pursuing low-carbon projects across the Americas with a focus on development opportunities.”
R. Andrew de Pass, Head of Renewables, Vitol Inc. added: “Vitol is committed to building its portfolio of renewable assets into a multi GW portfolio. We will invest in and repower Big Sky Wind to make it a significant renewable asset for the future, capable of delivering more clean energy to C&I customers. We intend to grow our US wind portfolio, primarily through repowering opportunities”.