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On 20 July 2020, Riverstone Holdings, LLC (“Riverstone”) closed an ~$1,085 million commitment of new equity contributions and incremental equity commitments from affiliates (the “Continuation Fund” and the “Rollover Fund”) of Riverstone to acquire Enviva Partners, LP (“Enviva”) and provide up to $300 million of primary capital for growth.  Riverstone Energy Limited (the “Company” or “REL”) has made a $25 million commitment to Riverstone’s Continuation Fund to participate in the recapitalisation of Enviva, of which $18 million was funded at closing.

Based in Bethesda, Maryland, Enviva was formed to create the first enterprise scale manufacturer and reliable supplier of high-quality wood pellets to major power generators globally. Today, Enviva is the world's largest supplier of utility-grade wood pellets as a replacement for coal in power generation. A significant majority of Enviva's pellets are sold through long-term, take-or-pay agreements with creditworthy customers in the United Kingdom, Europe, and Asia. These contracts have a weighted average remaining term of 13.6 years and a contracted revenue backlog of $19.6 billion.

Enviva owns and operates nine plants with a combined production capacity of approximately 4.9 million metric tons of wood pellets per year in Virginia, North Carolina, South Carolina, Mississippi, Georgia, and Florida. In addition, Enviva owns two export marine terminals in Chesapeake, Virginia and Wilmington, North Carolina, and has long term leases at terminals located in Mobile, Alabama, Panama City, Florida, and Savannah, Georgia.

Find out more on the Enviva website.



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