Trafigura JV Buys Texas Power Plant as Traders Pile Into Market

Trading house Trafigura Group Pte Ltd has bought a gas-fired power plant in the US, part of a growing wave of merchants piling into supplying volatile electricity markets.

The firm acquired the Mountain Creek power plant in Texas with joint venture partner Frontier Group of Companies, it said in a statement on Wednesday. The terms of the deal were not disclosed.

“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,” said Richard Holtum, global head of gas, power and renewables ...