NC approves lease for export facility

By Staff | July 16, 2013

The North Carolina Council of State has approved a lease agreement between the North Carolina State Ports Authority and Enviva Holdings LP. The agreement could result in the construction of a wood pellet export facility at the Port of Wilmington, approximately 50 miles north of the state’s South Carolina border. If built, the port would receive, store and load wood pellets for export to Europe.

Under the agreement, Enviva could construct a facility that includes two storage domes, a rail car unloading station and a ship loader and a conveyor system. Enviva would also be responsible for financing the estimated $35 million project. The initial lease term is 21 years with two 5-year renewal options.

According to the ports authority, the move is part of a continued focus on efforts to expand economic  opportunities in the state and enhance the viability of North Carolina’s ports. The agreement could bring an estimated $2 million in annual investment and $1.25 million in annual revenue.