Enviva has completed the acquisition from its sponsor of Enviva Pellets Greenwood Holdings which, through its wholly-owned subsidiaries, owns a wood pellet production plant in Greenwood, South Carolina. In connection with the Greenwood acquisition, Enviva’s sponsor has assigned five long-term, take-or-pay off-take contracts with ‘creditworthy’ Japanese counterparties that have maturities between 2031 and 2041, aggregate annual deliveries of 1.4 million tonnes per year and an aggregate revenue backlog of $5.3 billion (€4.6 billion). The Greenwood facility has been operating since 2016 and its wood pellets are exported through Enviva’s terminal at the Port of Wilmington, North Carolina. In a statement made at the time, Shai Even, chief financial officer at Enviva, said: “A key pillar of Enviva’s growth is our ability to undertake accretive drop-down acquisitions from our sponsor, which we again demonstrated with the Greenwood transaction.”