A subsidiary of the energy trading multinational Vitol has agreed to acquire a majority stake in battery stations used to stabilise the national electricity grid and in a proposed solar farm, less than one year after entering a joint venture to develop an Irish gas-fired power station. All projects are located in Ireland’s midlands and developed by Nigel Reams’s Tullamore, Co Offaly-based firm Lumcloon Energy. Vitol is primarily an oil trading multinational with $505 billion in revenue in 2022. In a notification to the Competition and Consumer Protection Commission this week, VPI Holding, a UK subsidiary of Vitol specialised in…

Want to continue reading?

Introductory offer: Sign up today and pay €200 for an annual membership, a saving of €50.

Subscribe

Cancel at any time.

Are you already a member? .