Trafigura joint venture completes acquisition of Texas power plant

Houston, July 3, 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 808 MW gas-fired, steam turbine-fired power plant in ERCOT, located near Dallas, provides a flexible source of electricity during periods of high demand. The acquisition provides Trafigura with the ability to strengthen its gas and power operations in North America and expand its product offering. In addition, the 1,500-acre site with existing grid infrastructure offers potential for future growth.

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

“We are very excited to be working with Trafigura on this asset and look forward to leveraging our experience in energy services and industrial development at the Mountain Creek Facility.” said David Franjoine, CEO of Frontier Group of Companies.

ENDS

For further information please contact:

Trafigura Press Office: +41 (0) 22 592 4528 or [email protected]

About Frontier Group of Companies (FGC)

FGC is a privately held Environmental Liability Transfer (ELT) and Brownfield Development Company. Founded in 2001, FGC acquires industrial facilities and brownfields to remediate existing environmental conditions and return the facility to productive reuse.

FGC’s in-house team of environmental and industrial development experts work together to ensure that any development effort takes into account the highest and best use of existing infrastructure. All necessary preparatory work is carried out in-house by FGC’s experienced and highly skilled workforce.

Our asset portfolio spans multiple industries and includes facilities that were previously operated as fossil fuel power plants, closed steel plants, petrochemical refineries, and pulp and paper mills. These assets are located throughout the United States.

Visit: www.frontier-companies.com

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

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

Visit: www.trafigura.com