Trafigura announces acquisition of Greenergy’s European operations
In a significant move to bolster its presence in the renewable energy sector, Trafigura Group Pte Ltd, a global leader in commodity trading, confirmed its agreement to acquire the European operations of Greenergy, a prominent UK-based biofuels supplier and road fuels distributor. The acquisition, from Brookfield Asset Management and its listed affiliate Brookfield Business Partners, is pending customary closing conditions and regulatory consents.
Founded in 1992 with a vision to supply lower-emission diesel, Greenergy has evolved into one of the largest biofuel suppliers in Europe, boasting manufacturing facilities in the UK and the Netherlands. It also stands as a top distributor of road fuels across the UK.
This acquisition marks a pivotal step for Trafigura in consolidating its fuel supply chain in Europe while diversifying into the physical production and distribution of renewable fuels. Greenergy will continue its operations under the leadership of its existing management team post-acquisition.
The merger of Trafigura’s global supply chain expertise with Greenergy’s specialized knowledge in production and distribution is expected to enhance operational efficiencies and pave the way for expansion into new markets and product lines. Furthermore, Trafigura’s robust financial foundation is set to propel Greenergy’s strategic growth and its ambitious decarbonization agenda.
Trafigura’s Global Head of Oil Ben Luckock remarked, “In an era where Europe is steering towards a greener future and the refining sector is adapting to new market realities, entities like Greenergy are pivotal. This deal significantly broadens our biofuels and fuel supply operations, integrating Greenergy’s adeptness in production and distribution, and facilitating the shift towards cleaner, sustainable fuel alternatives for our clients.”
“With Trafigura’s deep insights into global supply chains and its proven investment history in renewable energy, we are poised to enhance our customer offerings throughout the energy transition and beyond,” said Christian Flach, CEO of Greenergy.
