Enviva Enters Sizeable Contract With One Of Its Power Generation Customers In Europe

(RTTNews) - Enviva Inc. (EVA) announced the signing of a 10-year take-or-pay off-take fuel supply contract with an existing European customer, extendable for up to five years. The company expects to supply 800,000 metric tons of wood pellets per year, with deliveries expected to commence during 2027.

The company's total weighted-average remaining term of take-or-pay off-take contracts is approximately 14 years, with a total contracted revenue backlog of now over $23 billion.

The company noted that its contracted revenue backlog is complemented by a customer sales pipeline exceeding $50 billion, which includes contracts in various stages of negotiation.