15 February 2010 - Pacific BioEnergy Corporation and GDF SUEZ have entered into a partnership to support a $24 million expansion of Pacific BioEnergy's existing wood pellet production facilities in Prince George, BC. Pacific BioEnergy and GDF SUEZ have formed a new joint venture to own and operate the PG Plant.
In addition to its minority interest in the joint venture, GDF SUEZ has also agreed to purchase 2.5 million tons of wood pellets for its electrical generating facilities in Belgium over the next 10 years, replacing approximately two million tons of coal.
The expansion project, expected to be complete in the fall of 2010, is intended to see annual wood pellet production at the PG Plant double to 350,000 tons. New emission control equipment will be installed. The expanded PG Plant will also utilize more mountain pine beetle killed wood and other waste wood from the forests surrounding Prince George.