Biomass sector takes step towards $300m plant

Foresta plans to turn slash waste into coal replacement. (Image: Getty)

Thu, 04 Apr 2024

An Australian company’s plans to kick-start the biomass industry in New Zealand have moved forward with the leasing of a site in Kawerau in an industrial zone near extensive forestry plantations.ASX-listed Foresta intends to build NZ’s first industrial-scale plant to make biomass fuels to replace coal.On Thursday, it announced the signing of a 30-year lease (with a 20-year right of renewal) of the 9.6ha property with Putauaki Trust.The trust is owned by approximately 800 shareholders who are predominately descendants of Te Pahipoto...

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