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Pinnacle signs further contracts with customers in Asia

05.07.2018 − 

Following the four take-or-pay contracts concluded with Japanese customers until May, the Canadian pellet producer Pinnacle Renewable Energy Group has now concluded its fifth contract with Toyota Tsusho. The agreement provides for the supply of 170,000 tonnes of industrial pellets annually from 2021 onwards, which will be used in the biomass power plant of Kanda Biomass Energy in Kanda/Fukuoka. Pinnacle had already signed a contract with Toyota Tsusho at the beginning of the year for 30,000 tonnes per year from the end of 2021.

According to a company announcement dated 29 June, a contract was recently signed with a customer in South Korea. CGN Daesan Power, a CGN New Energy Holdings company, will also acquire 315,000 tonnes of industrial pellets annually from Pinnacle from 2021.

The weighted average remaining term of the Pinnacle portfolio of purchase contracts increases from seven years to nine years due to these additional long-term contracts.

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