Mubadala invests over $150 million in world’s largest wood pellet-producer | Business – Gulf News:
Abu Dhabi’s Mubadala invested over $150 million as an anchor investor in the recapitalization of Enviva Holdings, the world’s largest producer of industrial wood pellets, the sovereign wealth fund said in a tweet on Sunday.
Last week, Enviva said it completed a series of transactions that recapitalized the company with more than $1 billion of new equity contributions and incremental equity commitments from affiliates of private equity firm Riverstone Holdings LLC.
Companies perform recapitalization to make their capital structure more stable. US-based Enviva helps major utilities around the world to cost-effectively displace coal and other fossil fuels as part of the energy transition to a low-carbon future.
Through its subsidiaries, the company owns and operates eight plants with a combined wood pellet production capacity of about 4.1 million metric tons per year.
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