In South Africa, Coega Biomass Centre (CBC) has announced that the financing of the facility has formally been completed. On April 19, 2023, FinCo Fuel Group (FinCo), Partners for Innovation, and iLive Sustainable Development Holdings Pty Ltd (iLive) signed all contracts for a strategic partnership.
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According to a statement, completion of the financial close means that “all signals are green” to bring the wood pellet plant in Port Elizabeth (Gqueberha) back into full production.
Coega Biomass Centre (CBC) will produce sustainable wood pellets and woodchips from residual biomass flows in order to create clean and affordable energy. The plant in Gqueberha on the east coast of South Africa has been partly operational for several months now.
The chipper is running at full speed and soon the first 10 000 tonnes of woodchips will be shipped to an undisclosed client in Europe.
The first shipment of pellets is expected before the end of the year.
Positive environmental and social impact
For iLive, Coega Biomass Centre is the initiative to change South African lives in the field of sustainable energy and circular economy.
The results are already noticeable. At the locations where the Alien Invasive Plants (AIP) have been cleared, the water system is recovering very quickly and native plants have returned.
In addition, the entire process from collection to shipping generates many permanent jobs locally. The woodchips and pellets are both 100 percent Forest Stewardship Council (FSC) and Sustainable Biomass Program (SBP) certified and thereby meet the highest sustainability standards.
For Partners for Innovation, ownership of the pellet factory is a logical next step in the ambition to achieve direct sustainable environmental and socio-economic impacts in addition to providing impactful advice.
As a supplier of sustainable transport fuels, FinCo says it is committed to reducing carbon dioxide (CO2) emissions and improving socio-economic conditions. The pellet mill fits within FinCo’s ambition to play a role in the supply chain of biomass residues.
