Japanese Sumitomo has acquired a minority share of 47.6% in Canadian Pacific Bioenergy (PBEC). No details have been disclosed about the purchase price. According to a release on 21 July, PBEC simultaneously bought the 34% share in Pacific Bio-Energy Limited Partnership (PBLP) previously held by French Engie and thereby holds all the shares in the operator of the 350,000 t pellet works in Prince George in future.
Two pellet works with a combined capacity 175,000 tpy have been operated through PBLP in cooperation with the Canadian company Canfor Corp. of Vancouver, British Columbia, at Canfor’s Chetwynd und Fort St. John sawmilling facilities since 2016. Pacific Bioenergy also holds felling rights for some 1.7m m³ of logs per year in the Kispiox and Quesnel timber supply areas (TSA’s).