Plum Creek enters into 10-year fiber supply and services agreement with Atlanta-based bioenergy firm Enova, will deliver up to 3 million tons/year of wood fiber from its own and third-party timberlands to three pellet plants to be built in US Southeast
Audrey Dixon
SEATTLE
,
September 19, 2013
(press release)
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Plum Creek Timber Company, Inc., (NYSE: PCL) today announced it has entered into a 10-year fiber supply and services agreement with The Enova Group, an independent bioenergy firm headquartered in Atlanta, Ga.
“Plum Creek looks forward to working with Enova as it develops renewable energy projects in the Southeast. Further growth in bioenergy markets means cleaner energy, attractive returns for our investors and new jobs for those in the communities where we work and live.”
Plum Creek will deliver up to 3 million tons annually of sustainably-managed wood fiber to three pellet manufacturing locations that will be constructed in the Southeastern United States. Approximately 500,000 tons will originate from Plum Creek’s timberlands with the remaining 2.5 million tons to be sourced and delivered from third party landowners.
Enova will construct mills to convert wood fiber into pellets to serve global biomass markets. Pellet shipments are expected to begin in 2015.
“This agreement highlights the value of the consistent and reliable supply chain services that Plum Creek provides to our wood fiber customers,” said Rick Holley, chief executive officer. “Plum Creek looks forward to working with Enova as it develops renewable energy projects in the Southeast. Further growth in bioenergy markets means cleaner energy, attractive returns for our investors and new jobs for those in the communities where we work and live.”
Plum Creek is among the largest and most geographically diverse private landowners in the nation with approximately 6.3 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest. For more information, visit www.plumcreek.com.
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