An agreement between Coast Tsimshian Resources (CTR) and Pinnacle Renewable Energy Inc. means the two will work toward the construction of a wood pellet plant for Terrace.
The deal was announced today, with a release saying the two groups have signed an agreement to work towards developing a fiber procurement plan and a partnership wood pellet plant in Terrace. The plant – the location of which is yet to be confirmed – is expected to create close to 200 jobs.
“This agreement is a game-changer for CTR and for the local forest industry. A wood pellet plant provides a solution for low-end fiber that is sustainable and makes the best use of our forest resources,” said Lax Kw’alaams mayor Garry Reece, who is also CTR board chair. CTR is owned by the Lax Kw’alaams Band and is the holder of the largest active tree farm license within the supply area of the plant.
The groups say this agreement will set the stage for other cooperative agreements within the northwest forestry industry, specifically with Skeena Sawmills which is located in Terrace.
Pinnacle operates six pellet plants in British Columbia, as well as a recently constructed special purpose wood pellet terminal in the Port of Prince Rupert.
In November, Pinnacle began the commissioning of the Westview Wood Pellet Terminal in Prince Rupert, which will export B.C. wood pellets to European and Asian markets.
