Nov 16 2015
Dissertation Thesis Writers Info Enviva reports earnings and an expanding international pellet market.
Enviva Partners, LP (NYSE:EVA) has reported financial and operating results for the third quarter of 2015 and updates about the company and the international pellet market. The company reports adjusted EBITA of $ 15.9 million and a strong balance sheet. Enviva partners expects acquisition of 500 000 t/y Southampton (NC) plant during fourth quarter of 2015. The plant is in full production and is owned by the closely related company Enviva Wilmington Holding. Enviva believes in a continued strong growth and presents an increased international pellets market due to new and converted coal power plants.
Didnt Do My Homework Excuses Third Quarter Results and financial position
For the third quarter of 2015, Enviva generated a net revenue of $116.6 million, a $40.5 million, or 53 percent, increase over the corresponding quarter of last year. Adjusted EBITDA improved to $15.9 million in the third quarter of 2015, a 59 percent increase compared to the corresponding period in 2014. The improvement was driven by higher sales volumes, more favourable pricing under customer contracts, and lower export shipping costs
The Partnership had total cash on hand of $75.2 million at September 30, 2015, which is available for general partnership purposes, including potential acquisitions.
John Keppler, Chairman and Chief Executive Officer commented:
“We expect Enviva’s strong year-to-date operating performance to continue in the fourth quarter of 2015 and beyond. We believe our stable cash flow profile, combined with the anticipated acquisition of the proposed Southampton plant and the benefits from incremental, modest capital investments in our current plants, will provide opportunities to substantially increase our distribution going forward.”
http://lautanbisnis.com/?p=essay-on-social-service Further acquisitions
The Partnership continues to progress the potential acquisition of the fully operational 510,000 metric tons per year wood pellet production plant in Southampton County, Virginia currently owned and operated by the Partnership’s sponsor.
In addition, the sponsor’s 515,000 MTPY production plant in Sampson County, North Carolina (the “Sampson plant”) and a deep-water marine terminal in Wilmington, North Carolina are both on track to begin operations in the first quarter of 2016. The Partnership expects to have the opportunity to acquire the Sampson plant with a ten-year off-take contract in late 2016 and the Wilmington terminal in 2017.
Finally, the sponsor continues to prepare for the construction of an additional 500,000 MTPY production plant on a site it owns in Hamlet, North Carolina.
essay writing language Market Update
Major European power generators continue to make the economic decision to fuel generation with wood pellets, highlighting strong growth in this industry:
• oxbridge essay writers DONG Energy’s coal-to-wood pellet conversion of its 360 megawatt (“MW”) http://akada.org/topics-on-argumentative-essays/ Studstrup unit 3 and expansion of its get 250 MW Avedore unit 1 are on track. The Avedore unit is part of the largest power station in Denmark and its other unit is already firing wood pellets and straw. Combined additional annual wood pellet demand from these two power stations is projected to be around 1 million tons starting in 2016. Our sponsor has a ten-year, 420,000 MTPY (385,000 metric tons for the first year) off-take agreement with an affiliate of DONG Energy that commences in September 2016.
• watch E.ON announced the sale of its 556 MW scarlet letter symbolism essay Langerlo power facility in Belgium, which the buyer intends to convert to a wood pellet-fueled power station that is expected to commence operations in 2017. When fully operational, this facility is projected to require more than 1.5 million tons of wood pellets annually.
• cosmetic surgery essay Macquarie’s MGT Teesside 299 MW Renewable Energy Plant project has initiated the selection of lenders as it continues to progress towards financial close in early 2016 after its U.K. government-backed contract for difference (“CfD”) passed the EU state-aid review process. This project is expected to consume more than 1 million tons of wood pellets annually, commencing in early 2019.
• source Drax’s third 660 MW biomass unit is operational and ramping up toward full capacity when it is expected to demand more than 2 million tons of wood pellets annually.
• Also in the http://obatherbalbatuempedu.org/?p=dna-term-paper U.K., RWE’s 420 MW Lynemouth coal facility is expected to generate demand for approximately 1.5 million tons of wood pellets annually. Both facilities have received confirmation from the U.K. government that they can move forward with their planned conversions to biomass under the Renewable Obligation Certificate (“ROC”) subsidy as an alternative to their previously awarded CfDs if the CfDs do not receive EU state aid approval.
• At the country level, in http://alcbahamas.org/essay-writing-service-college-admission-prompts/ the Netherlands, the Minister of Economic Affairs stated in a letter to Parliament his intention to significantly increase the budget for the renewable incentive scheme from 3.5 billion euros in 2015 to 8.0 billion euros in 2016, consistent with a report from the Dutch Court of Audit that the scheme budget needed to be increased in order to meet binding EU renewables targets. The final budget is expected to be confirmed before the end of 2015.
• In the U.S., the Environmental Protection Administration (“EPA”) published the final source Clean Power Plan in the Federal Register. This regulatory action is one of the keystones of the current administration’s climate change initiative and, with this announcement, the EPA will begin accepting comments on its proposed “Model Rule” which is intended to provide states with a road map for developing their plans, including use of biomass, to meet the aggressive CO2 emissions reductions and renewable energy targets. Although a series of expected lawsuits have been filed against the EPA’s action, states are still expected to submit their plans by September 2016.
“Customers in our core European utility market segment continue to see profitable opportunities to generate renewable energy by converting coal-fired assets to biomass-fired power stations,” said Mr. Keppler. “In addition to the highly visible growth in this sector, we are also encouraged by the initial regulatory progress for utility demand in the U.S. and the rapidly growing institutional, industrial, and residential heating demand for wood pellets both here and abroad, which our production increasingly has the opportunity to serve.”
Writing Papers Online About Enviva Partners, LP
Enviva Partners, LP (NYSE:EVA) 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. The Partnership owns and operates five plants in Northampton County and Ahoskie, North Carolina; Amory and Wiggins, Mississippi; and Cottondale, Florida. We have a combined production capacity of approximately 1.7 million metric tons of wood pellets per year. In addition, the Partnership owns a deep-water marine terminal at the Port of Chesapeake, Virginia, which is used to export wood pellets. Enviva Partners also exports pellets through the ports of Mobile, Alabama and Panama City, Florida.
To learn more about Enviva Partners, LP, please visit our website at www.envivabiomass.com.