Oil trader Vitol embraces clean energy with new wind power fund

Vitol Group, the world’s largest independent oil trader, is launching a new fund to invest in wind farms in Europe, joining a string of oil majors making moves into renewable energy.

BY BLOOMBERG NEWS, ANNA HIRTENSTEIN & ANDY HOFFMAN

The Rotterdam-based trader will invest 200 million euros ($234 million) into offshore and onshore wind farms through its VLC Renewables arm, run by a joint venture together with Low Carbon Ltd. The company is planning to buy minority stakes in projects, working with developers and financial investors.

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