Buckeye Technologies will spend $4.5 million on the first of a series of energy related projects to make its wood cellulose plant in Perry, FL increasingly independent from fossil fuels for its energy needs. The projects will result in approximately 92% of the plant’s energy coming from renewable or “green” energy sources in the future.
The cost of the entire project is expected to total $43 million and includes the installation of a condensing turbine and upgrades to two existing recovery boilers and related systems. The initial spending will support installation of the condensing turbine with a total cost of $14 million. Project work will begin immediately, and the total project will take several years to complete. Once completed, this green energy initiative is expected to replace the need for the equivalent of 200,000 barrels of oil per year and increases electrical generating capability to over 50 megawatts.
In addition to reducing the Foley plant’s dependence on fossil fuel, these projects will result in further improvements to air quality, reducing sulfur air emissions by 93% and volatile organic compound emissions by 42%.