Enova announces Port Agreement with Colonial Group
ATLANTA, Dec. 10, 2012 /PRNewswire/ -- Enova Wood Pellet Group, LLC, a subsidiary of Enova Energy Group, LLC, has entered into a long term port agreement with Georgia Kaolin Terminals, Inc. (GKT) a subsidiary of Colonial Group, Inc. The agreement provides Enova sufficient port capacity to export up to 1.35 million metric tons per year of wood pellets through Colonial's GKT facility in Savannah, Georgia. Enova is currently developing a network of three wood pellet production plants in Georgia and South Carolina to deliver wood pellets to GKT via rail.
"This is a tremendous milestone for Enova to partner with a world class terminal operator such as Colonial Group, because it will enable Enova to export the largest quantity of wood pellets through a single port facility in the Southeast," according to Mark Newhart, VP of Logistics and Transportation for Enova. "The terminal will provide a steady source of income and add new jobs to the community," he added.
GKT was previously used for the export of kaolin clay for the paper industry and is being converted for new opportunities in the biomass market. Pratt Summers, Assistant Vice President of Operations for Colonial said, "We look forward to this long-term partnership with Enova for the storage and handling of their wood products and the diversification that it adds to our dry bulk terminals."
About Enova Energy Group, LLC.
Enova Energy Group, LLC (www.enovaenergygroup.com) is headquartered in Atlanta, Georgia with an additional office in New York City. Enova Energy Group was founded in 2009 with the goal of becoming a leader in the development and operations of renewable energy facilities in the United States. Enova's inaugural project is a 37.5MW biomass to electricity project being built in Plainfield, Connecticut of which Enova is the majority owner. This project will be operational in 2013 and was financed with over $225M in debt and equity arranged and sourced by Enova.
About Colonial Group, Inc.
Colonial Group, Inc. (www.colonialgroupinc.com) is a Savannah, Georgia based group of companies with a focus on energy and port-related activities. Georgia Kaolin Terminal is a sixty acre bulk marine terminal with twenty-six silos and two shiploaders capable of loading Panamax vessels at 1,000 metric tons per hour.
Contact: Ben Easterlin, 1-770-821-6351
SOURCE Enova Energy Group, LLC