Plantation Energy to export to Japan
The agreement is worth over AU$70 million (€50.6 million) and is the largest of its kind in Japan in terms of volume and value. Under the terms of the agreement Plantation Energy will manufacture and export clean renewable energy in the form of wood pellets from the first of several planned pellet manufacturing facilities operating in Albany, western Australia.
Talking about the off-take agreement Bob Warburton, chairman of Plantation Energy, said: ‘Not only does it secure the long-term future of Albany production, it also provides a secondary market to Plantation Energy’s existing European business and brings the company one step closer in its plan to expand production facilities in Victoria and South Africa.’
‘Mitsui believes wood pellets will play an increasing role in both Japan and the rest of Asia as companies take a portfolio approach to meeting their emissions targets,’ explained Yukio Takebe of Mitsui. ‘The market for wood pellets in Japan is forecast to grow rapidly over the next five years and we are pleased to be able to turn to Australia to meet the market’s needs.’