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
Wood Bio Conference Speaker Pete Madden: “This is going to be an incredible decade for our sector.”
Going into the seventh Wood Bioenergy Conference & Expo, organizers said the lineup of keynote speakers, on paper, was the best in the history of the event. The real thing was even better. Speakers from their wide-ranging perspectives provided a crystal clear picture of how the wood-based energy shapes up today and what to expect moving forward…
B&W Enters Kiewit, Fidelis Biomass Project
Babcock & Wilcox is partnering with Kiewit Industrial to deliver Fidelis New Energy’s planned net-negative carbon impact biomass power plant at the Port of Greater Baton Rouge, La. The 200 MW electricity plant will be the largest of its kind in the world, according to the participants…
Enviva, MOL Drybulk Debut New Partnership
Enviva and MOL Drybulk Ltd., a subsidiary of Mitsui O.S.K. Lines Ltd., a leading global marine transport group, announced they have signed an additional memorandum of understanding to deploy an environmentally friendly bulk carrier (“EFBC”) to reduce the greenhouse gas (“GHG”) emissions in the ocean transportation of sustainable wood pellets and biofuels…
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.