Enviva Supports REDIII and Biomass as 100% Renewable
Enviva Inc. is pleased to hear that woody biomass will continue to be recognised as a renewable energy source in the European Union as per the Renewable Energy Directive III (REDIII) agreement concluded by the EU's trialogue negotiations.
Enviva, the world's largest producer of sustainably sourced woody biomass, is confident that it can meet the updated sustainability criteria, as it welcomes the REDIII agreement that doesn't impose restrictions on primary woody biomass, provided the sustainability criteria are met. Customers of Enviva can continue to contribute to global climate goals. The final text of the agreement is yet to be released publicly.
The newly reached REDIII agreement is expected to guarantee subsidies to existing electricity-only plants and financial support for BECCS technology and other end uses of woody biomass, providing further opportunities for Enviva's growth in CHP, hard-to-abate sectors, and biofuels.
Enviva's CEO Thomas Meth welcomed the REDIII agreement, which he believes will enable the company to continue to support the EU's Net Zero journey and strengthen Enviva's growth. Meth also pointed out that reputable scientific organisations, such as the IPCC, consider bioenergy essential for global climate goals, and he is pleased that REDIII acknowledges and reflects this.
Enviva expects that the final text of the Directive will not be released for several weeks and will provide more details to its stakeholders later. The agreement needs to be officially endorsed by the Council and Parliament before becoming law.
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