Trafigura Group Pte Ltd has entered into agreements to off-take electricity from 400 MW of wind projects within the ERCOT market, marking the company's inaugural procurement of wind electricity in North America.
On Tuesday, the commodities trading giant announced that it has signed power purchase agreements (PPAs) allowing it to receive at least 50% of the electricity generated by three operational wind projects, along with renewable energy credits (RECs). The contracts, finalized in recent months, also grant Trafigura marketing rights for some of the associated projects.
While the press statement did not disclose specific details regarding the locations and owners of the wind farms, the agreements reflect the company's expanding footprint in the renewable energy sector.
Igor Marin, Global Head of Gas, Power and Renewables at Trafigura, stated, “These agreements highlight the rapid growth and diversity of our power trading strategy and enable us to provide a more diverse and customised offering to our current and future customers.”
