Pacolet Milliken Acquires Georgia Renewable Power to Expand Biomass Platform
Pacolet Milliken has acquired Georgia Renewable Power (GRP), which operates two biomass power plants in northeast Georgia. This acquisition triples the size of Pacolet's existing biomass platform and adds 116 MW of generating capacity, with output sold under long-term agreements to Georgia Power. The Plants use woody biomass as fuel and sell renewable energy credits on open markets. Pacolet entered the biomass sector in 2024 by acquiring a 55 MW plant called Piedmont Green Power (PGP). This latest acquisition complements PGP well, creating operational synergies across three Georgia-based facilities. The CEO of Pacolet emphasized that this move aligns with both financial and sustainability goals. Financing for the transaction was provided by Manulife, which also financed the earlier PGP acquisition. Legal advisors included Vinson & Elkins for Pacolet and Day Pitney for Manulife.
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Topics: biomass power plants investment renewable energy sustainability