Enviva LP Signs Long-Term Wood Pellet Supply Agreement with Utility Electrabel, Group GDF SUEZ
Enviva Will Supply Biomass to Meet Half of a Major Power Plant's Fuel Requirements, Powering Hundreds of Thousands of Homes with Renewable Energy.
RICHMOND, Va., Aug 24, 2010 (BUSINESS WIRE) -- Enviva LP(TM) ("Enviva"), a leading manufacturer of wood pellets and processed biomass in the United States and Europe, announced today the signing of a long-term wood pellet supply contract with Electrabel, a subsidiary of GDF SUEZ Group, one of the largest utilities in the world.
Under the contract, Enviva, a subsidiary of Intrinergy Holdings LP, will supply 480,000 metric tons of wood pellets annually to Electrabel's biomass power generating facilities in Belgium. Intrinergy is a portfolio company of Riverstone Holdings LLC's most recent renewable and alternative energy fund.
"With demand for renewable fuel increasing worldwide, the U.S. biomass market is poised for tremendous growth. Enviva is excited to be at the nexus of this growth by matching U.S.-based resources with major power producers around the world," said Enviva Chairman and Chief Executive Officer John Keppler. "We are pleased that Electrabel has joined Enviva's growing base of utility customers committed to reducing CO2 emissions over the coming years."
Enviva will supply the wood pellets from its expanding manufacturing base of production facilities in the Southeastern U.S., home to some of the world's most abundant and most sustainably managed wood baskets. Enviva's environmental, safety, and forestry staff are at the forefront of best practices in sustainable harvesting, and they ensure that all of the company's biomass resources are procured according to internationally recognized third party certification standards.
Enviva's mission is to be the world leader in the production of sustainable biomass and a preferred partner and supplier to utility, industrial and retail customers seeking to decrease their dependence on fossil fuels and reduce their carbon footprint. Enviva has been supplying wood chips and wood pellets to customers in the U.S. and Europe since 2007. For more information, visit www.envivapellets.com.
SOURCE: Enviva LP