July 17, 2018 / 10:26 AM / 4 months ago

CORRECTED-Oil trader Vitol, Low Carbon start renewable energy fund

(Corrects job title, bullet point three)

LONDON, July 17 (Reuters) -

* Vitol and privately held investment firm Low Carbon said on Tuesday that they have jointly started a Jersey-based fund called VLC Renewables to invest in renewable energy assets

* The new fund has an initial allocation of 200 million euros and will initially target onshore and offshore wind energy projects

* “By 2025 almost 27 percent of European electricity will be generated from wind and solar. As a major participant in Europe’s power markets and as a significant investor in energy infrastructure worldwide, Vitol is keen to build a portfolio of renewable investments to complement its existing activities,” said Simon Hale, a member of Vitol’s investments team

* Low Carbon invests in a range of renewable energy technologies including solar, wind, waste to energy, combined heat and power, energy storage and energy efficiency (Reporting by Julia Payne; editing by Jason Neely)

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