Alexander Hudilainen, the Governor of the Republic, has met with representatives of Momentum Capital (Netherlands).
Dutch entity to invest into production of "black pellets" in Karelia
Alexander Hudilainen, the Governor of the Republic, has met with representatives of Momentum Capital (Netherlands). According to the Press Office of the Regional Government, the guests presented a project contemplating the creation of a biofuel plant at the meeting held in Petrozavodsk.
As the potential investors explained, the plant will be able to manufacture so called "black pellets" (biocoal) whose production may use up to 30% of low-grade raw materials such as wood material and wood chips with bark. The plant is expected to output 200 ktpa of finished products with energy facilities and companies of the housing and utility sector being among its potential consumers.
Out of 346 boiler houses operating in Karelia, 163 use biofuel such as firewood, wooden pellets and turf. Momentum Capital is ready to offer its technology and experience to cooperate in the generation of heat energy, in particular, upgrading of low-efficiency boiler houses.
After the meeting, Alexander Hudilainen ordered that specific proposals be drafted on cooperation between the government, potential business partners and Momentum Capital.
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