Alter Energy Group to acquire wood pellet plant

Switzerland-based Alter Energy Group has signed a letter of intent to acquire an operating wood pellet production plant in North Carolina, US.

According to Edward Klaeger, AEG CEO: 'Our plan is to export the initial 110,000 tonnes a year of wood pellets to EU markets for the upcoming heating season.'

The company will then increase capacity to 280,000 tonnes a year during 2015.

Alter Energy says this expansion will increase economies of scale and help meet the rising demand for wood pellets in the US as well as the domestic market, which is expected to grow significantly in the coming years as the US brings more renewable energy sources online to meet its emissions reductions targets.