Pacolet Milliken Acquires Georgia Renewable Power

Adding to its wood bioenergy portfolio, investment firm Pacolet Milliken has acquired Georgia Renewable Power (GRP) and its two biomass power plants in Franklin and Madison counties in Georgia. The GRP Franklin Renewable Energy Facility near Carnesville, Ga. is a 58 MW wood and wood waste solids biomass power plant. The GRP Madison Renewable Energy Facility near Colbert, Ga. is also a 58 MW wood and wood waste solids biomass power plant. The two plants’ power output is sold to Georgia Power under long-term power purchase agreements. The plants qualify as a source of renewable power under federal and state standards, and also sell renewable energy credits on the open market.

The acquisition complements Pacolet Milliken’s 2024 entry into the wood bioenergy market when it acquired Piedmont Green Power (PGP) in Barnesville, Ga., a 55 MW woody biomass power producer. The company now offers 171 MW of woody biomass generated power, which Pacolet CEO William Crawford noted “represents a significant next step in growing Pacolet’s Power & Infrastructure portfolio and meets both our financial and sustainability goals.”

According to Lance Jordan, Co-Head and Chief Investment Officer of Pacolet Power & Infrastructure, “GRP is a natural fit alongside PGP. Operating three facilities in the same state creates meaningful operational synergies. Going forward, we continue to see compelling opportunities to acquire high-quality assets that meet our sustainability and financial goals. We remain focused on pursuing additional renewables investments throughout the U.S.”