Canadian-based renewable energy provider Carbon Friendly Solutions (CFS) subsidiary Global CO2 Reduction has acquired 51% stake in Carbiopel, a Polish based producer of biomass.
CARBIOPEL is expected to yield 20,000 tons of pellets with an estimated revenue of $3.4m during 2011 and 40,000 tons by the end of 2012 and a minimum of 80,000 tonnes by the year 2016 with an estimated revenue of $11m.
The biomass producer has a contractual agreement to purchase production of pellets with GDF SUEZ ENERGIA POLSKA.
GDF SUEZ is constructing a 190MW biomass power unit which will become fully operational by the end of 2012 which aims to reduce CO2 emissions by 1.2 million tons per year.
CARBIOL as a partner for GDF SUEZ ENERGIA will increase their own production and will be the largest suppliers of biomass for the newest biomass GDF’s power unit.