Vitol confirms acquisition of 30% stake in Kyoto energy
Today Vitol confirmed its recent acquisition of a 30% stake in the Singapore based Kyoto Energy Pte. Ltd, a leading Emission Reductions Project Developer and Aggregator.
KYOTOenergy has an outstanding track record in the sourcing, development and monetization of carbon assets generated from quality renewable energy projects such as hydropower, wind, biogas and biomass. With 27 CDM projects registered in six countries and more than 120 under development, its portfolio represents over 30 million UN-backed carbon offset credits. Active since 2005 in South East Asia and Central America, KYOTOenergy rapidly gained a leading position in the Indochina region, its main market today.
Michel Buron, CEO and Founder of KYOTOenergy, said: “Beyond its trading expertise, Vitol brings further credibility to our expanding company. We are also diversifying our services to encompass the forestry market and other carbon related services as well as project financing. Vitol, with its leading market position, will inevitably contribute to our successful future”.
Russell Hardy from Vitol commented “KYOTOenergy has always been a firm we have admired, with a highly skilled team developing CDM projects in new frontiers with great success. The opportunity to become partners with KYOTOenergy and jointly invest in the future of renewable energy gives us an exciting platform to build on experience in the firm”.