Trafigura plans major investments in renewables

Through a brochure published on Tuesday (26), the commodity trading Trafigura reported that the company plans a large increase in investments in renewable energy in the coming years. The group wants to add 2 gigawatts of sustainable assets to the portfolio by 2027, up from about 350 megawatts today

. Last year, the company, which is the second-largest independent oil operator, bought a stake in Hy2gen, a German startup that works in green hydrogen production. In January, Pash Global, a renewable energy investment vehicle controlled by Trafigura, also bought a 49.9 percent stake in a solar farm project in Mali.

In addition, the current pandemic situation, which has decreased demand for fuels, especially for air travel, can accelerate the search for renewable energy from large companies, which previously rushed to finance projects in the face of the transition of demand for fossil fuels to cleaner sources of sustainable energy, such as wind and solar.

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