Enova Energy Group to build three pellet plants
Enova Energy Group LLC a vertically integrated developer and asset owner of renewable energy projects, has announced that it will build three wood pellet projects in Georgia and South Carolina beginning in the first quarter of 2012. Enova has created a subsidiary, Enova Wood Pellet Group LLC which has a dedicated management team solely focused on the wood pellet industry.
Enova will develop these plants to produce wood pellets to be used as a renewable fuel for export to the European Union under long term contracts with public and private utilities. The facilities will each produce 450,000 metric tons each for a total 1.35 million metric tons by 2014 from the facilities to be exported out of Savannah, Ga. Each project will create approximately 150 jobs during construction and an additional 70 jobs directly at each facility for a total job creation of over 450 jobs during construction and over 200 permanent jobs. The wood pellet projects are expected to cost $330 million and Enova will meet 80 percent of this with debt.
Zach Steele, CEO of Enova, believes, "As demand for biomass has grown in Europe, Enova is ideally situated to take advantage of the vast resources of sustainable forests being grown throughout the Piedmont Region of the southeastern U.S. to help Europe meet its demand to reduce its carbon footprint."
This is going to be Enova's first roll out of pellet plants. However, Enova believes that this is the first of many announcements as they continue to expand their presence in this market and explore expansion plans to other southern states with additional sites already being secured to expand to an additional 2,000,000 metric tons of wood pellets throughout the Southeast United States.