Peru producer exports first shipment of ethanol to the EU
Peru-based Maple Energy plc has completed its first export sales of ethanol to Mitsui & Co. Ltd. under and existing sales and distribution agreement. According to Maple Energy, the first sale consisted of approximately 5,900 cubic meters (1.56 million gallons) of ethanol, which is destined for the E.U. The company noted it expects to make additional export sales to Mitsui later in August.
“We are delighted to report the first export sale of ethanol to the international market and share this exciting news with all our shareholders,” said Rex Canon, CEO of Maple Energy. “This event marks another key milestone for the Company in its initiative to develop the largest ethanol business in Peru with the goal of being a low-cost, globally competitive ethanol producer.”
According to information published by Maple Energy, the 35 MMgy sugarcane ethanol plant began operations in March. The project includes a sugarcane plantation, the ethanol plant, and a 37 MW power plant that supplies electricity to the plant and sells excess power to the grid.
The agreement with Mitsui was formed in July 2010. Under the agreement, Maple Energy will sell Mitsui all of its ethanol production for a period of 5 years, with the exception of 20 percent of the company’s production, which can be sold domestically. Maple Energy noted that it currently expects to export a substantial portion of the ethanol it produces.
Information released by Maple Energy also noted that Penta Tank Terminals S.A. has installed and commissioned ethanol storage, loading and shipping facilities near the port of Paita to handle ethanol export activities. The facilities are for the exclusive use of Maple Energy.