Dec 09, 2015. /Lesprom Network/. Enviva Partners, LP (the “Partnership”) announced the execution of a new take-or-pay off-take contract for the supply of wood pellets to the European market. Deliveries under this U.S. Dollar denominated contract will commence in 2017, ramp to 450,000 metric tons per year in 2018, and continue until 2027. This transaction significantly extends the weighted average remaining term of the Partnership’s off-take contracts to 7.2 years.

“We have a strong track record of re-contracting our capacity,” said John Keppler, Chairman and CEO. “This 10-year contract diversifies our customer set and substantially extends our contracted position, further strengthening the long-term, stable cash flow profile of Enviva.”

Enviva Partners, LP 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.