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Buckeye and Trafigura Venture Invest in Renewables Developer

  • Swift Current has developed over 1.1 gigawatts in projects
  • Buckeye to invest $2 billion in renewables in years ahead
     
Photographer: Markel Redondo/Bloomberg

Pipeline operator Buckeye Partners LP and a renewables company backed by commodities giant Trafigura Group have acquired majority ownership of U.S. clean-power developer Swift Current Energy.

For Buckeye, the acquisition is part of about $2 billion in planned renewables investments over the next several years. It comes months after the 135-year-old petroleum-product hauler made an equity investment in OneH2 Inc., a provider of hydrogen fuel and related infrastructure. Financial terms for the Swift Current deal weren’t disclosed.