BETHESDA, Md.--(BUSINESS WIRE)--Enviva Partners, LP (NYSE: EVA) announced the execution of a new take-or-pay off-take contract to supply wood pellets to Lynemouth Power Limited, a subsidiary of Energetický a pr?myslový holding (EPH). Lynemouth Power plans to convert its 420 megawatt coal facility in the UK to wood pellet fuel by the end of 2017. Deliveries under this contract are expected to commence in the third quarter of 2017, ramp to full supply of 800,000 metric tons per year in 2018, and continue through the first quarter of 2027. The contract volumes are denominated in U.S. Dollars except 160,000 metric tons per year denominated in British Pound Sterling. This transaction significantly extends the weighted average remaining term of the Partnership’s off-take contracts to 8.0 years as of June 1, 2016.
“Our strategy is to fully contract our production capacity, and this contract provides additional length and diversification to our sales book,” said John Keppler, Chairman and Chief Executive Officer. “We are proud that a world-class energy group like EPH selected Enviva to supply more than half of the wood pellets required annually by its Lynemouth facility, further reinforcing our position as a preferred supplier to top-tier biomass projects.”
About Enviva Partners, LP
Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay agreements with creditworthy customers in the United Kingdom and Europe. The Partnership owns and operates six plants in Southampton County, Virginia; Northampton County and Ahoskie, North Carolina; Amory and Wiggins, Mississippi; and Cottondale, Florida. We have a combined production capacity of approximately 2.3 million metric tons of wood pellets per year. In addition, the Partnership owns a deep-water marine terminal at the Port of Chesapeake, Virginia, which is used to export wood pellets. Enviva Partners also exports pellets through the ports of Mobile, Alabama and Panama City, Florida.
To learn more about Enviva Partners, LP, please visit our website at www.envivabiomass.com.
