Wood Pelletes
BGE invested in Japanese power plants due to forecast biomass power plants operated 2,000 MW. in 2019-2022. Japan's import volume of Wood Pellets in 2019 will be at the same level as in 2018, which is approximately 1.1 million tons, during 2020-2021 the imports increase to an average of 1.9 million tons per year and increase to 4.9 million tons during 2022, representing an average growth rate of 59.0% imports (2019-2022).
Japan's use of Wood Pellets.
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Consumption | 1,185,242 | 1,200,000 | 2,000,000 | 2,000,000 | 5,000,000 |
| Manufacture | 126,000 | 126,000 | 126,000 | 126,000 | 126,000 |
| Export | 300 | 300 | 300 | 300 | 300 |
| Import | 1,059,542 | 1,074,300 | 1,874,300 | 1,874,300 | 4,874,300 |
Wood pellets demand and forecast for 2022 and 2023
From the information, the demand for Wood Pellet grows continually, especially the Japanese market. This information supports the growth prospects of the Group's Wood Pellets business.