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Commodities trader Trafigura launches carbon trading desk
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Commodities trader Trafigura launches carbon trading desk
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IFM consortium swoops on US renewables firm
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IFM Investors has teamed up with global commodities trader Trafigura to acquire a majority stake in a North American renewables player, marking another push by the heavyweight fund into low-carbon investments.
The consortium will take an 85 per cent stake in the Boston-based Swift Current Energy, which has developed a gigawatt of renewable projects since it was established in 2016 and has a 6GW pipeline of solar, wind energy and energy storage projects.
IFM Investors chief executive David Neal says the partnership supports the ongoing energy transition.Â
Arsineh Houspian
The companyâs management will retain minority ownership.
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Institutional fund manager IFM Investors-owned companies Buckeye Partners and Nala Renewables have together acquired a majority ownership in clean energy development investment platform Swift Current Energy.
The acquisition, an announcement by Buckeye and Nala said, would allow the firms to invest in a renewable energy platform that aligned with their priorities and further participate in energy transition.
Buckeye president and chief executive, Clark Smith, said: “This strategic partnership offers an exciting opportunity to further advance critical renewable energy generation and storage development projects across the United States while growing this platform”.
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Buckeye Partners & Nala Renewables Invest In Swift Current Energy to Accelerate U S Growth Plans
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