Enviva Announces Acquisitions
Enviva is expanding its footprint in the south once again through acquisitions—this time with the purchase of Georgia Biomass in Waycross, Ga., which was commissioned in April 2011, with associated export terminal capacity in Savannah, Ga. for $175 million in cash. The Waycross facility has an annual production capacity of 750,000 MTPY. This announcement comes after Enviva purchased the pellet plant in Greenwood, SC, commissioned by Colombo Energy.
“The Greenwood and Georgia Biomass acquisitions are fundamentally transformative for Enviva’s scale and diversification,” comments John Keppler, Chairman and CEO, Enviva. “Not only are we increasing Enviva’s fully contracted production capacity by 35%, but we are doing so in new fiber baskets, with new deep-water terminal infrastructure, and with new customers under new long-term, take-or-pay off-take contracts that we expect will enable us to continue our track record of generating durable cash flows and growing our distributions sustainably well into the future.”
Taking the associated off-take contracts from the Greenwood purchase and the Waycross contracts into account, Enviva’s total weighted-average remaining term of off-take contracts will increase from 11.4 years to 12.7 years and total product sales backlog increased from $10.2 billion to $15.5 billion, on a pro forma basis as of April 1, 2020. Production from both plants is expected to be fully contracted through 2035.
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Finite Carbon Receives New Majority Stakeholder
Enviva, Finite Carbon Focus On Small Landowners
Enviva Reports On New Pellet Projects
Enviva Publishes Paper, Hosts Webinar
Valmet To Convert Coal-Fired Boiler In Finland To Pellet-Fired
Valmet will be converting Helen Ltd.’s coal-fired district heat boiler to bubbling fluidized bed (BFB) combustion to enable wood pellet firing at the Salmisaari ‘A’ power plant in Helsinki, Finland. The conversion promotes the company’s goal of phasing out coal, while at the same time strengthening the construction of a sustainable energy system…
Enviva Announces First Quarter Setback
Enviva, the world’s largest producer of industrial wood pellets, released its quarterly report in early May, and it rippled through the wood-to-energy ranks. “The plans and initiatives underway to improve productivity and costs across Enviva’s current asset platform continue to fall behind expectations,” commented John Keppler, Executive Chairman of the board…
Dieffenbacher Names New Energy Unit Director
Wolfgang Lashofer has been appointed as the new Managing Director of Dieffenbacher Energy GmbH, which was formed at the beginning of the year following the acquisition of BERTSCHenergy, based in Bludenz, Western Austria. As Managing Director of Dieffenbacher Energy, Lashofer takes over the management of the newly established Energy Business Unit…
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