Pacolet Milliken, LLC acquires Georgia Renewable Power
The woody biomass plants qualify as renewable power under federal and state standards and sell renewable energy credits on the open market.
Georgia Renewable Power, owner of two woody biomass power plants in northeast Georgia, was acquired by Pacolet Milliken, LLC. The Franklin and Madison County facilities have 116 megawatts of combined generating capacity and sell their output to Georgia Power under long-term power purchase agreements.
Pacolet entered the biomass sector in 2024 with its purchase of Piedmont Green Power, a 55 MW plant in Barnesville, Georgia, and the acquisition roughly triples the firm's biomass platform. Financing was provided by Manulife, with Genesis Capital acting as debt financing arranger.
"We appreciate the opportunity to once again work alongside the Pacolet team on another successful acquisition. The expansion of their biomass platform in Georgia is a meaningful milestone for the business, and we are pleased to provide financing that supports their long-term growth objectives," said Nicholas Violandi, Managing Director, Power & Infrastructure Project Finance, Manulife.
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