IFM Investors and Trafigura to form Nala Renewables.

IFM Investors, a private equity firm, and Trafigura, a comodity trading company, agreed to form Nala Renewables, an investor in solar, wind and power storage projects. Financial terms were not disclosed. “As highly experienced infrastructure investors, IFM Investors are an excellent partner for this ambitious and timely endeavor. The energy transition is driving the need, but also provides the opportunity to make strategic, long-term investments in renewable energy. The investments will provide synergies for our new Power and Renewables trading division which is going to become a significant pillar of our trading activity over the next few years and beyond and builds on our capabilities and understanding of other energy markets," Jeremy Weir, Trafigura Chairman and CEO.