Taaleri to build EUR-20m biocoal plant in Finland

Forest biomass. Author: Oregon Department of Forestry. License: Creative Commons, Attribution 2.0 Generic.

January 25 (Renewables Now) - Finnish wealth manager Taaleri Plc (HEL:TAALA) on Tuesday said it has made an investment decision for the construction of a plant that will produce torrefied biomass in Joensuu, Finland.

The facility, worth EUR 20 million (USD 22.6m), will be built by Taaleri's company Joensuu Biocoal Oy, with construction to start in the spring and operations expected to begin in the middle of 2023. It is planned to produce about 60,000 tonnes of torrefied biomass per year, using by-products from the forest industry and forestry, chiefly bark and first thinnings. Torrefied biomass can replace coal in the cement and steel industries.

The plant will be located on the site of Savon Voima Oyj's Iiksenvaara combined heat and power (CHP) plant and will also use certain equipment and services provided by Savon Voima.

The project has received investment from a number of Finnish family-owned investment companies. It is supported by a EUR-3.4-million grant from the Centre for Economic Development, Transport and the Environment and a EUR-5-million capital loan from the Climate Fund.

Taaleri said it intends to construct more bioindustry plants in the future.

(EUR 1 = USD 1.130)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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