Enova Energy plans 3 pellet projects
Enova Energy Group LLC is building three wood pellet projects in Georgia and South Carolina. The company has also created a subsidiary, Enova Wood Pellet Group LLC, which has a dedicated management team that will focus exclusively on the wood pellet industry.
Each plant will have an annual production capacity of 450,000 metric tons, or a combined capacity of 1.35 million metric tons. Pellets produced at the facility will be exported to Europe from Savannah, Ga. The projects are expected to cost $330 million. Enova will meet 80 percent of that cost with debt.
Although these plants represent Enova’s first development in the wood pellet industry, the company expects to expand its presence in the market with additional production sites to increase its pellet production capacity by an additional 2 million metric tons.