Trafigura joint venture completes acquisition of Texas power plant

Houston, 3 July 2024 – Trafigura and its joint venture partner Frontier Group of Companies are pleased to announce the acquisition of the Mountain Creek power plant in Texas from a group of financial investors for an undisclosed sum. 

The 808MW steam turbine gas-fired power plant in ERCOT, located close to Dallas, provides a flexible source of electricity during periods of high demand. The acquisition presents an opportunity for Trafigura to strengthen its gas and power business in North America and expand its product offering. In addition, the 1,500 acre site with existing grid infrastructure offers potential future development opportunities. 

“This strategic asset will support our growing gas and power business in the US and will continue to provide a flexible source of energy to the fast-growing Texas market. There is also significant future development potential at the site for projects that contribute to regional energy security and low carbon power solutions, such as solar power, battery energy storage solutions or additional  flexible power production,” said Richard Holtum, Global Head of Gas, Power and Renewables for Trafigura. 

“We are very excited to be partnering with Trafigura on this asset and are eager to put our energy services and industrial development expertise to work at the Mountain Creek Facility,” said David Franjoine, CEO, Frontier Group of Companies. 

ENDS

For further information please contact: 

Trafigura Press Office: +41 (0) 22 592 4528 or media@trafigura.com 

About Frontier Group of Companies (FGC) 

FGC is a privately-owned environmental liability transfer (ELT) and brownfield development company. Founded in 2001, FGC acquires industrial facilities and brownfield sites for the purpose of remediating existing environmental conditions and bringing the facility back to productive reuse. 

FGC’s in-house team of environmental and industrial development experts work together to ensure the highest and best use of existing infrastructure is included in all development efforts. All necessary site preparation work is performed in-house, by FGC’s experienced and highly skilled workforce. 

Our Portfolio of Assets span multiple industries and include facilities formerly operating as: fossil fuel power generating facilities, retired steel production facilities, petro-chemical refineries, and pulp - paper facilities. These assets are located throughout the United States.

Visit: www.frontier-companies.com 

About Trafigura 
Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through H2Energy Europe and joint venture Nala Renewables. 

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and our Impala Terminals joint venture. The Group employs over 12,000 people, of which over 1,400 are shareholders and is active in 156 countries.

Visit: www.trafigura.com