Vattenfall in talks for biomass project in Liberia

(ADPnews) – Apr 7, 2010 – Swedish utility group Vattenfall is negotiating with Canadian tycoon John McCall MacBain over an investment in a biomass project in Liberia.
McCall MacBain has approached the power group in his attempts to launch production of wood chip from Liberian rubber tree waste. The wood chip can be used as fuel in the generation of electricity.
The state-owned power generator has agreed to pay some EUR 50 million (USD 67.5m) to buy 1 million tonnes of wood chips from Liberia over a period of five years. The delivery of the wood chips will begin this summer.
Goran Lundgren, Vattenfall’s vice president of biomass, said the company would need between 7 million and 8 million tonnes of biomass by 2020 in order to meet its goal of cutting coal usage by 40%.

(EUR 1=USD 1.350)

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