Vitol and Meta Sign California Solar Deal

• Vitol and Meta have entered into an agreement to provide renewable energy credits and other environmental attributes from a 50MW solar and storage plant in California. This is part of Vitol's growing corporate offering to enable companies to source renewable energy for their operations.

What Happened?

Vitol and Meta Platforms have recently signed an agreement to provide renewable energy credits and other environmental attributes from a 50MW solar and storage plant in California. This project, called the Ocotillo Wells project, will be owned, constructed, and operated by Vitol and will also include a four-hour battery storage system. It is scheduled to be operational in summer 2023 and will be part of Vitol's growing corporate offering to enable companies to source renewable energy for their operations. According to Andrew De Pass, Head of Renewables Americas at Vitol, this project will also provide economic benefits to the local community as well as job opportunities during the project's construction and operations. 

Why Does It Matter?

The agreement between Vitol and Meta is significant as it enables companies to source renewable energy for their operations. This is an important step towards transitioning to a more sustainable energy future. The Ocotillo Wells project will provide renewable energy credits and other environmental attributes to Meta's operations in the region, and also provide economic benefits to the local community as well as job opportunities during the project's construction and operations. This project is part of Vitol's growing corporate offering and is an important step towards transitioning to a more sustainable energy future. 

What's Next?

The Ocotillo Wells project is scheduled to be operational in summer 2023, and Vitol is continuing to develop their corporate offering to enable companies to source renewable energy for their operations. In addition, Vitol is exploring further opportunities to develop renewable energy projects in the US and other countries. This agreement is an important step towards transitioning to a more sustainable energy future and is a positive sign for the future of renewable energy.