Trafigura US Holdings, Inc, a wholly-owned, U.S. indirect subsidiary of Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies, has acquired a majority share in power trading platform Energy Renaissance LLC.
Energy Renaissance was established by privately held company Denver Energy Group LLC (DEG), a technology-driven power trading business. DEG’s team of highly skilled trading personnel utilises a suite of proprietary technology to focus on short term US power markets. Trafigura Group’s stake in the Energy Renaissance platform advances current trading capabilities with the addition of predictive technology, specialized custom applications, and refined proprietary processes to collect data, analyse information, identify trading strategies, and execute trades.
The new joint venture will accelerate Trafigura’s entry in North American ISO (independent system operator) markets and contribute to the growth of the Group’s power and renewables division, complementing existing trading capabilities in the US and European markets. The business is developing services that will help the electricity market as it shifts rapidly from reliance on fossil fuels to renewable energy sources such as wind and solar power. Trafigura’s expertise in risk and price management will help utilities and renewable power producers adapt to a new world of fluctuating supply.
