Plantation Energy secures green energy export contract
Plantation Energy, Australia’s largest manufacturer and exporter of wood pellets, has signed a three-year AUD 60 million (€34 million) supply agreement with Essent Trading, an international merchant energy trading company based in Switzerland.
The agreement between Plantation Energy and Essent Trading comes only days after the company announced its first export deal, with Electrabel, a subsidiary of GdF-Suez, Europe’s largest power company.
Plantation Energy manufactures and exports clean renewable energy in the form of wood 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 already in operation.
Wood 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.
Plantation Energy is backed by leading US-based global private equity firm Denham Capital, which in October 2008 announced an equity investment of up to US$ 80 million in the company.
The agreement between Plantation Energy and Essent Trading comes only days after the company announced its first export deal, with Electrabel, a subsidiary of GdF-Suez, Europe’s largest power company.
Plantation Energy manufactures and exports clean renewable energy in the form of wood 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 already in operation.
Wood 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.
Plantation Energy is backed by leading US-based global private equity firm Denham Capital, which in October 2008 announced an equity investment of up to US$ 80 million in the company.
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