Trafigura Group has formed a new company to invest in a series of solar, wind and power storage projects globally.
The new company, Nala Renewables, will target to build a portfolio of renewable energy projects with a cumulative capacity of two gigawatts to be operating, in construction or in late-stage development, within the next five years. Nala Renewables is a joint venture with global institutional fund manager IFM Investors, extending the two firms’ existing relationship through the Impala Terminals joint venture, created in 2018.
Nala Renewables will identify, build and operate projects that produce renewable energy in markets in which Trafigura already operates — primarily in Europe, Asia and certain emerging markets. In addition to developing greenfield projects, the company will selectively pursue opportunities to acquire assets or companies at varying stages of development that fit the investment profile of the portfolio.
The business will also b
