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.
RELATED ARTICLES:
UK Biomass Demand Rises; Enviva Reports New Japanese Contract
Enviva Considers Biomass Role In Hydrogen Economy
Finite Carbon Receives New Majority Stakeholder
Enviva, Finite Carbon Focus On Small Landowners
Enviva Reports On New Pellet Projects
Latest news
FSC Halts Certification Of Russian Products
In early March the Forest Stewardship Council (FSC) suspended trading certificates in Russia and Belarus and announced it would “block wood sourcing” from the two countries as long as the armed conflict in Ukraine continued. According to the FSC announcement, “Wood and forest products from Russia and Belarus…
Drax Gets Satellite Pellet Plant Going
Drax Group is ramping up to full production at Leola—the first of three new satellite pellet plants it plans for Arkansas. Leola, in Grant County, is part of a $40 million investment by Drax in the state, creating approximately 30 new jobs across all the three sites planned for Arkansas as well as many more…
Oregon Counties Court Battle Continues
Oregon Court of Appeals heard arguments in late February on a 2019 jury decision appealed by the state that awarded $1.1 billion to 13 counties and 151 local taxing districts after the counties sued the state of Oregon and Oregon Dept. of Forestry, claiming officials reduced timberland management goals and violated…
Find Us On Social
Subscribe to Our Newsletter
Wood Bioenergy News Online hits the inboxes of subscribers in the wood-to-energy sectors.
Subscribe/Renew
Wood Bioenergy is published and delivered worldwide 6 times per year. Free to qualified readers in the U.S. Subscribers outside the U.S. are asked to pay a small fee.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.