While European combined heating and power (CHP) plants are in the midst of a conversion to green energy, an increasing number of European energy consumers will have to get their heat from wood pellets, and this bodes well for the dry bulk carriers that have entered this market.
The Danish Energy Association expects that demand will rise from 15 million tons of wood pellets today to no less than 35 million tons wood pellets by 2020, says Kristine Grunnet, Chief Consultant at the Danish Energy Association.
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