Institutional fund manager IFM Investors-owned companies Buckeye Partners and Nala Renewables have together acquired a majority ownership in clean energy development investment platform Swift Current Energy.
The acquisition, an announcement by Buckeye and Nala said, would allow the firms to invest in a renewable energy platform that aligned with their priorities and further participate in energy transition.
Buckeye president and chief executive, Clark Smith, said: “This strategic partnership offers an exciting opportunity to further advance critical renewable energy generation and storage development projects across the United States while growing this platform”.
Nala incoming chief executive, Jasandra Nyker, said she saw North America as a dynamic and growing segment of the global renewable energy landscape.
Buckeye was a wholly owned investment of the IFM Global Infrastructure Fund based in Houston, Texas; Nala was a joint venture between Trafigura and IFM Investors based in Geneva, Switzerland; and Swift was headquartered in Boston, Massachusetts.