Ence is the largest pulp producer in Southern Europe, with Bleached Eucalyptus Kraft Pulp (BHKP) capacity of 1.2m tonnes. It is also the largest producer of renewable biomass energy in Spain, with 266MW installed capacity (which has benefitted from FiTs) and managing over 65k hectares of forest in the Iberian Peninsula. The high cyclicality of the pulp business is partially offset by steady returns and high visibility from the regulated biomass business, which is structured, financed and reporte ....
