News | Power | Mar 8th 2023

Vitol launches renewable products

Two wind turbines in a field

Vitol launches two renewable products designed to facilitate the development and consumption of renewable power

For generation owners, Vitol has introduced the Revenue Guarantee Agreement (RGA), a product that hedges all commodity (energy, basis, rec) & fuel (wind or solar) risk away from the asset while providing predictable & stable fixed cash flows over the contract period. To date, we have executed RGAs with over 530MW of renewables in North America.

“After listening to renewable developers, we structured our RGA product to give generators a customizable risk-reducing product for their asset. This unique hedging approach addresses the risks of today and tomorrow as decarbonization of the electric grid creates a new set of challenges, which require innovative solutions.

Our innovative RGA solution is ideal for renewable generator owners looking for a superior hedging tool for their operating and development asset portfolio” said Joon Park, Structure Power Products at Vitol.

For end users, such as corporates, Vitol has introduced the Block PPA (BPPA) backed by our growing portfolio of renewable assets and external offtakes.  The BPPA addresses the growing challenges of consuming renewables by allowing the consumer to secure a firm supply of renewable power, at a fixed price, eliminating the traditional risks such as intermittent generation and exposure to market volatility.  Vitol has contracted over 8MM MWhs under the BPPA and begun delivering under these agreements in January this year.

“Reducing the barriers to consume renewables is key to addressing the challenges of achieving corporate sustainability and compliance objectives.  We have deployed our trading expertise and strong balance sheet to transfer risk away from producers and consumers, effectively becoming a crucial life-cycle participant of the energy transition in an increasing volatile environment.  Vitol plans to expand on our success in the Americas to provide these innovative products to renewable energy producers and consumers across the globe.” said Eric Winter, Environmental Products and Energy Transition Solutions at Vitol.

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