Enviva Announces Long-Term Off-Take Contract Now Firm
Enviva Inc. (EVA)
Last enviva inc. earnings: 4/29 04:30 pm
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US:NYSE Investor Relations:
envivapartners.com
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Source: Business Wire
BETHESDA, Md.--(BUSINESS WIRE)--Enviva Partners, LP (NYSE: EVA) (the “Partnership,” “we,” or “our”) today announced that its sponsor’s previously disclosed 18-year, take-or-pay off-take contract to supply Sumitomo Forestry Co., Ltd., a major Japanese trading house, is now firm, as all conditions precedent have been satisfied. Sales under the contract are expected to commence in 2023 with annual deliveries of 150,000 metric tons per year of wood pellets. The Partnership expects to have the opportunity to acquire this off-take contract, along with associated wood pellet production capacity, as part of a drop-down transaction from its sponsor.“Enviva and companies like Sumitomo Forestry are leading an energy transition away from fossil fuels in favor of renewable sources that can provide for dramatic reductions in lifecycle greenhouse gas emissions,” said John Keppler, Chairman and Chief Executive Officer of Enviva. “Notably, our off-take contract with Sumitomo Forestry, which runs f
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