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.

“We see that challenge facing electricity markets and we are also evolving our business model to adapt to this future,” Simon Hale, investment director at Vitol, said in an interview. “We’re trying to create a platform of scale and we think offshore wind is the best means to achieve that.”

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