Enviva Partners, LP executed a 15-year, 180,000 MTPY take-or-pay off-take contract commencing in 2022 with a major Japanese trading house to supply a new power plant in Japan, subject to certain conditions precedent, which Enviva Partners, LP expects to be met in 2018.
Enviva Partners, LP also announced that its sponsor executed two new take-or-pay off-take contracts with Sumitomo Corporation to supply a total of 520,000 MTPY to new biomass power plants in Japan.
These new contracts include:
- A firm 15-year, 270,000 MTPY contract commencing in 2022 with Sumitomo Corporation.
- A 15-year, 250,000 MTPY contract commencing in 2021 with Sumitomo Corporation, subject to certain conditions precedent, which the Partnership expects to be met in 2018.
Enviva Partners, LP also announced it has recently extended its relationship with Drax Power Limited by executing a firm, take-or-pay off-take contract to supply 650,000 MTPY of wood pellets starting in 2022 and continuing through 2026.
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.
