Enviva will work with J-Power to develop a global supply chain of up to 5 million metric tonnes of sustainable woody biomass to replace coal in J-Power’s power plants
BETHESDA, Md. & TOKYO, November 17, 2021– (COMMERCIAL THREAD) – Enviva Partners, LP (NYSE: EVA) (“Enviva”), a global renewable energy company specializing in sustainable wood bioenergy, and the utility of Tokyo Electric Power Development Co., Ltd. (TYO: 9513) (“J -Power”), signed a memorandum of understanding for the long-term, large-scale supply of sustainable wood biomass from Enviva’s manufacturing facilities in the Southeastern States. – United with J-Power’s coal-fired power plants in Japan. The agreement is designed to develop an executable and investable plan under which Enviva will build new infrastructure to produce and deliver up to 5 million metric tonnes of wood pellets to permanently replace coal in J-Power’s existing coal-fired power plants, dramatically reducing utility greenhouse gas emissions. MOU provides a framework for advancing the role of biomass as a renewable and sustainable energy source and help J-Power achieve its “Blue Mission” goal of being carbon neutral by 2050.
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Enviva wood pellet storage dome at Chesapeake Port in Virginia, United States (Photo: Business Wire)
“Climate change is a global challenge requiring a global solution. Enviva has a proven track record of delivering a reliable, scalable and sustainable product that today delivers substantial and deep decarbonization of energy to generators and manufacturers around the world, ”said Thomas Meth. , co-founder and executive vice president of sales and marketing at Enviva. “We are delighted that our partnership with J-Power can help this leading utility in Japan meet its climate goals with reliable baseload energy that complements the intermittency of wind and solar. “
In April, Japan, the world’s third-largest economy, nearly doubled its 2030 target of reducing carbon emissions by 40%, down from 26% in 2013, joining other countries moving away from coal and other fossil fuels to accelerate. the fight against climate change. To further align with the government’s decarbonization policy, J-Power, which has a total of 8.4 gigawatts of coal-fired power capacity, recently announced various plans, including the phase-out of aging thermal power plants and the co-combustion of biomass or ammonia.
Under the agreement, the parties will jointly assess the most sustainable and cost-effective ways to harness the potential of the coal-to-biomass conversion project, such as security of supply, port reception, delivery logistics and storage, security measures and project economics. The investment will leverage J-Power’s existing coal-fired power plants by reallocating them through conversion, potentially resulting in dedicated and co-fueled biomass plants.
Converting existing coal-fired power plants to sustainable use of biomass is one of the fastest and most cost-effective ways to reduce a plant’s greenhouse gas emissions by over 80% while conserving jobs throughout the supply chain. Coal-to-biomass conversion projects allow legacy coal-fired power plants to continue operating profitably with their existing supply, generation and grid infrastructure. Unlike wind and solar power, biomass is not dependent on grid expansion.
“We are confident that our partnership with Enviva, which has a proven track record of delivering biomass in a sustainable and reliable manner, will strongly support J-Power’s efforts to achieve carbon neutrality. By combining J-Power’s highly efficient technology for using solid fuels and Enviva’s global supply capability technology, we are meeting social expectations of achieving carbon neutrality coupled with a stable energy supply, ”said Suzuki Shinsuke , Managing Director, Director of the Thermal Energy and Value Creation Department at J-Power.
The biomass ultimately supplied by Enviva under the agreement will be certified against current European Union (EU) sustainability criteria, which maintain and improve the health, growth and capacity of forests over the long term. The EU sustainability standard ensures that biomass comes only from sustainably managed forests that are regenerated, ensuring that carbon stocks are stable or increasing, that logging is legal and prevents supply to areas protection of nature, taking into account soil quality and biodiversity.
Earlier this year, Enviva announced its own Net-zero commitment that will reduce, eliminate or offset all of its direct emissions by 2030. Enviva has agreed to embrace innovative and improved low-emission processes through investments in projects that result in real, additional and verified net carbon reductions. third as part of this ambitious plan to reduce carbon emissions from fossil fuels and improve energy efficiency.
Enviva (NYSE: EVA) aggregates a natural resource, wood fiber, and transforms it into a transportable form, wood pellets. Enviva sells a large majority of its wood pellets under long-term outright purchase agreements with creditworthy customers in the UK, EU and Japan. Enviva owns and operates 10 factories with a combined production capacity of approximately 6.2 million metric tonnes per year in Virginia, North Carolina, South Carolina, Georgia, Florida and Mississippi. In addition, Enviva exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party marine terminals in Savannah, in Georgia, in Mobile, Alabama. , and Panama City, Florida.
To learn more about Enviva, please visit our website at envivabiomass.com. Follow Enviva on social media @Enviva.
About Electric Power Development Co., Ltd. (J-Power)
Electric Power Development Co., Ltd. (J-Power) is an electricity producer and full seller based in Japan. J-Power has an electricity generation capacity of 18,250 megawatts (MW) at 97 sites in Japan. Its hydroelectric share is about 47% and thermal energy about 50%, respectively. J-Power is developing renewable energy installations such as wind or geothermal energy, with a plan to increase capacity to 1,500 MW by 2025. Internationally, J-Power has 6,544 MW of power generation capacity in 33 sites, such as Thailand, the United States, and China.
On February 26, 2021, J-Power announced its “Blue Mission 2050”, as well as its objectives of reducing carbon emissions by 40% by 2030 compared to the three-year average of actual emissions in 2017-2019, and ‘achieve zero net worth. (carbon neutrality) by 2050. The roadmap includes the transition from coal to carbon-free hydrogen, the development of renewable energy, the development of nuclear energy as a carbon-free source and the expansion of the grid electricity as the main infrastructure of Japan.
Caution Regarding Forward-Looking Statements
The information included herein and in all oral statements made hereunder includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the future financial performance of Enviva, as well as the strategy, future operations, financial condition, estimated revenues and losses, projected costs , Enviva’s outlook, plans and management objectives are forthcoming forward-looking statements. When used herein, including any oral statement made in connection herewith, the words “could”, “should”, “will”, “could”, “believe”, “anticipate”, “intend” de “,” estimate “,” expect, “” project “, the negative of these terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These forward-looking statements are based on management’s current expectations and assumptions regarding future events and are based on information currently available as to the outcome and timing of future events. Unless otherwise provided by applicable law, Enviva disclaims any obligation to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect subsequent events or circumstances. urs at the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and many of which are beyond Enviva’s control.
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