U.S. Port Pellet Projects Peaking
So far in this week’s wood pellet industry news, the North Carolina State Ports Authority is trying to work out deals with a couple of pellet companies to build sizeable facilities at two of the state’s ports. Though nothing is set in stone, details continue to be worked out with Enviva Holdings for a facility at the Port of Wilmington and International Wood Fuels for one in Morehead City, according to local reports.
This reminded me of a story I wrote in early April, about a Mississippi bond bill that earmarked $10 million toward wood pellet export infrastructure that will be built at the Port of Pascagoula.
Which reminded me of another story I wrote just a month or so ago, about Point Bio Energy LLC selecting the Port of Greater Baton Rouge, La., as the future location of a proposed $100 million wood pellet plant.
And well, that story reminds me of yet another story I wrote a few months before that, about Drax Biomass’ plans to build three projects in the Gulf region, including a port storage and loading facility at the Port of Greater Baton Rouge. Those plants will annually produce around 900,000 metric tons of wood pellets annually, with full operations beginning in 2014.
Anyone else seeing a trend here?
Anyway, back to North Carolina, the N.C. State Ports Authority Board Chairman Danny McComas is quoted in the Sun Journal saying he really wants to get the wood pellet facilities to get off the ground so the ports can begin to focus on internal infrastructure, begin making money to start investing in the ports, repairs and capital improvements.
That same attitude was expressed by Louisiana Economic Development regarding the Port of Greater Baton Rouge facility—it estimated that the project will generate $12.9 million in new state tax revenue and $9.6 million in local tax revenue over the next 10 years, bringing the port an estimated total of $825,400 per year.
While it’s a very exciting time for the U.S. wood pellet export industry, it’s also an exciting time for the ports, communities and states that are set to hugely benefit from these projects.
I have no doubt that more projects will continue to be added to the list.