Enviva, through its joint venture company Enviva JV Development, has acquired a wood pellet production plant in Greenwood, South Carolina and related assets from Portuguese paper and pulp company, The Navigator company.
This acquisition is the first investment by the new joint venture, which was recently created by Enviva to acquire, develop and construct wood pellet production plants and deep-water marine terminals in the Southeastern United States.
The Greenwood plant, which is strategically located in a deep natural resource basin, employs nearly 80 full-time employees. Enviva intends to make investments in the Greenwood plant to improve its operational efficiency and add additional emissions control equipment that the Company expects will increase its production capacity to 600,000 metric tons of wood pellets per year by 2019, subject to receiving the necessary permits.
Enviva’s operations executive vice president Royal Smith said: “Enviva is very excited to formally welcome the Greenwood team to the Enviva family.
“Together, we look forward to growing this facility in partnership with the Greenwood community and our sustainable supply chain that includes forest landowners, loggers, truckers and the mechanical, and other service providers essential to keeping a world-class manufacturing operation running smoothly.”
Enviva chairman and CEO John Keppler said: “The Greenwood plant is an ideal addition to our portfolio of manufacturing and export terminal facilities, and we are excited to formally welcome this team to the Enviva family.
“This latest investment is a testament to the strength of the global biomass market and will ensure Enviva is well positioned to meet its long-term contracted demand from customers seeking renewable energy alternatives to coal in Europe and Asia.”
In a note sent to Enviva, South Carolina Senator Lindsey Graham said, “I welcome Enviva into the South Carolina family of manufacturers and look forward to growing our mutually beneficial relationship in the years to come. Greenwood has a strong manufacturing base, a wonderful quality of life, and is a great place to do business.”
Enviva’s combined plant operations now include seven manufacturing sites in Virginia, North Carolina, South Carolina, Mississippi, and Florida, with an eighth under construction in Richmond County, North Carolina. In total, these facilities will represent more than 4 million metric tons of wood pellet production capacity on an annual basis.