Comment on The world's biggest oil trader is setting up a renewable energy fund

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Thu, 07/19/2018 - 4:33pm

The world's biggest oil trader is setting up a renewable energy fund

Reuters/Mike Blake Vitol is setting up a renewable-energy fund in a partnership wth Low Carbon. A Vitol executive spoke very highly of what renewable energy can do in the long-term. The world’s biggest oil trader, Vitol, is setting up in partnership with Low Carbon a renewables fund that will invest in renewable energy assets across Europe, the companies said in a joint statement on Tuesday. Vitol, which trades more than 7 million barrels of crude oil and products every day, and privately-owned investment company Low Carbon announced the creation of a Jersey-based fund—VLC Renewables—which will have an initial allocation of US$234 million (200 million euro) to invest in European renewable energy generation projects.See the rest of the story at Business InsiderNOW WATCH: Brazil's empty $300 million World Cup stadiumSee Also:China is the world's biggest oil buyer — but its demand may be slowing down soonThe recent drop in oil prices may be just a correctionThe trade war is already hurting industrials — here's why energy could be nextSEE ALSO: Trump breaks long-standing precedent of American presidents not commenting on the Fed, says he isn't 'thrilled' about rate hikes

 

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