Enviva announces $250 million tax-exempt green bond offering

By Marisa Wong

Los Angeles, June 22 – Enviva Inc. announced that the Industrial Development Authority of Sumter County, Ala., intends to issue $250 million of exempt facilities revenue bonds (Enviva Inc. Project), series 2022.

Proceeds of the offering will be loaned to Enviva under a loan and guaranty agreement to fund all or a portion of the costs of the acquisition, construction, equipping and financing of Enviva’s wood pellet production plant to be located in Epes, Ala., and to pay costs and expenses of the offering.

The plant is designed to produce a low-carbon, sustainable, renewable, drop-in substitute for fossil fuels to help decarbonize industries and the global economy, consistent with Enviva’s green finance framework.

The transaction is expected to close on or about July 15.

Enviva is a Bethesda, Md.-based producer of industrial wood pellets.

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