Vitol’s Americas renewables platform, VC Renewables, expands into greenfield development through its acquisition of a 520MW pipeline and management team from East Light Partners, a premier greenfield solar and storage developer led by Jamie Fordyce and Wendy De Wolf.
This is a significant development for VC Renewables. To date, VC Renewables has successfully completed 27 solar projects totaling 353MW and 200MWh of battery storage and has recently expanded into larger utility scale solar projects such as our 102 MW Bluegrass Solar Project in Maryland. When including our operating and repowered wind, this brings Vitol’s North America renewables operating or in-construction portfolio to 1GW with over $1.2 billion of capital committed.
VC Renewables’ pipeline of solar and storage development projects currently exceeds 3GW. VC Renewables intends to bring over 500MW of renewable generation online each year. Born of a long-term partnership between Vitol and Conductive, VC Renewables leads Vitol’s renewables investments in the Americas with a highly experienced team, combining decades of development, construction and operating experience.
David Munsky, President and CFO at VC Renewables said: “We have been building an under the radar renewables platform with Vitol since 2018. The rebranding to VC Renewables focuses our goal of being a premier developer and owner of renewables assets in the Americas, while expanding the scope beyond solar and storage technologies.”
Wendy De Wolf, Co-Founder of East Light Partners said: “Vitol has demonstrated its commitment to investing in renewable developments in the US. We are delighted to join VC Renewables and have the opportunity of deploying our expertise and building a major greenfield portfolio.”
R. Andrew de Pass, Head of Renewables and Sustainable Energy Investments at Vitol Inc. said: “Sustainable energy is a key pillar of Vitol’s strategy for the future. We have committed both capital and resource to the Americas renewables sector and look forward to expanding our investment opportunities.”