Crucial step for subsidiary VTT Vasiliko Ltd to expand and contribute to VTTI’s New Energy Strategy
VTTI, the parent company of VTT Vasiliko Ltd (VTTV) and one of the world's leading storage providers for energy and other essential products, recently announced its entry into the renewable natural gas industry via the acquisition of a bioenergy project in Tilburg, the Netherlands. This landmark acquisition marks a significant step in implementing VTTI New Energy, the company’s strategy to diversify its product portfolio and actively work towards providing the energy solutions of tomorrow.
Following the acquisition, VTTI will construct a new state-of-the-art bioenergy facility of industrial scale, expected to become operational in the third quarter of 2023. The new VTTI Bio Energy Tilburg 17-megawatt facility will generate 23 million cubic metres of biogas per year by processing organic waste and side streams. Part of the biogas will be upgraded to renewable natural gas (RNG) and delivered to the electricity grid, thus contributing to decarbonise the Dutch energy sector.
The bioenergy facility in Tilburg is the first of similar projects across the VTTI network as it works towards creating a sustainable future. “In line with this move towards decarbonisation and zero emissions, we as VTTV have already demonstrated our ambition to contribute to the energy transition”, says George Papanastasiou, VTTV Managing Director.
With a number of projects in the pipeline which will broaden its product portfolio in the short and medium terms, VTTV will be looking to expand and leverage its state-of-the-art facilities in the Vasilikos area towards contributing to the VTTI New Energy strategy. “It has been well-documented that VTTV has made its jetty available for two major project proposals which would have significantly expedited Cyprus’ transition towards transition fuels and renewables, and specifically the supply of Natural Gas (NG) for use in the local market. The VTTI New Energy strategy provides us with the platform through which to realise our commitment towards the energy solutions of tomorrow that will ultimately benefit the citizens of Cyprus”, added Papanastasiou.