Enviva to Increase Production in Greenwood… According to an article in today’s Biomass magazine: A joint venture between affiliates of Enviva’s sponsor and John Hancock is also continuing to invest in its wood pellet facility in Greenwood, South Carolina. The facility is expected to expand its capacity from 500,000 metric tons per year to 600,000 metric tons per year, subject to receiving necessary permits.
Enviva Partners said it expects to have the opportunity to acquire these assets from its sponsor and its joint ventures with John Hancock.
During an investor call, John Keppler, chairman and CEO of Enviva discussed the impact of Hurricane Florence and Hurricane Michael on its operations. He said Enviva builds its production plants and terminals to withstand these types of storms and noted the company’s facilities sustained only limited damage. The company, however, did lose production due to downtime at its Sampson County, North Carolina, and Cottondale, Florida, plants. The Greenwood plant was also impacted. According to Keppler, disruption in terminal operations during mandated closures of the Port of Wilmington and Port of Panama City required the company to reschedule several shipments. However, he said despite these events, the company believes it will be able to achieve its previously forecasted 2018 adjusted EBITDA of $118 million to $122 million.