Plantation Energy Australia agrees export deal
Plantation Energy, Australia’s largest manufacturer and exporter of Densified Biomass Fuel (DBF) pellets, has announced the signing of a three year €39 million supply agreement with Belgium-based Electrabel NV.
The agreement between Plantation Energy and Electrabel, a subsidiary of Europe’s largest power company GdF-Suez, is the first of its kind in Australia that will see Plantation Energy manufacture and export clean renewable energy in the form of DBF pellets made from non-commercial plantation forest residues. Initial exports will be shipped from Albany, Western Australia, where the first of several planned pellet manufacturing facilities is in operation.
Plantation Energy is backed by leading US-based global private equity firm Denham Capital, who announced an equity investment of up to €59 million in the company in October 2008.
The agreement supports Electrabel’s efforts to replace fossil fuels with renewable sources, Biofuel Purchase Manager of Electrabel.
DBF pellets are used extensively in Europe, where they are burned with coal in coal-fired power stations. Demand for pellets exceeded 8 million tonnes in 2008 and is expected to top 16 million tonnes by 2014.
The agreement between Plantation Energy and Electrabel, a subsidiary of Europe’s largest power company GdF-Suez, is the first of its kind in Australia that will see Plantation Energy manufacture and export clean renewable energy in the form of DBF pellets made from non-commercial plantation forest residues. Initial exports will be shipped from Albany, Western Australia, where the first of several planned pellet manufacturing facilities is in operation.
Plantation Energy is backed by leading US-based global private equity firm Denham Capital, who announced an equity investment of up to €59 million in the company in October 2008.
The agreement supports Electrabel’s efforts to replace fossil fuels with renewable sources, Biofuel Purchase Manager of Electrabel.
DBF pellets are used extensively in Europe, where they are burned with coal in coal-fired power stations. Demand for pellets exceeded 8 million tonnes in 2008 and is expected to top 16 million tonnes by 2014.
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