Pacolet Milliken expands its biomass platform with the acquisition of Georgia Renewable Power

GREENVILLE, SC – Pacolet Milliken, LLC (“Pacolet”), a sustainability-focused, family-owned investment firm, announced it has acquired 100% of Georgia Renewable Power (“GRP”), which owns two biomass power plants in northeast Georgia, one in Franklin County and one in Madison County (the “Plants”). This acquisition roughly triples the size of Pacolet’s biomass platform. Financing was provided by Manulife. The terms of the transaction were not disclosed.

The Plants have 116 MW of combined generating capacity and sell their output to Georgia Power under long-term power purchase agreements. The Plants are fueled by woody biomass, qualify as a source of renewable power under federal and state standards, and sell renewable energy credits on the open market. Pacolet entered the biomass sector in 2024 with its acquisition of Piedmont Green Power (“PGP”), a 55 MW biomass plant in Barnesville, Georgia.

“This transaction represents a significant next step in growing Pacolet’s Power & Infrastructure portfolio and meets both our financial and sustainability goals. Franklin and Madison are modern, efficient facilities that complement PGP well,” said William Crawford, CEO of Pacolet.

Pacolet plans to pursue additional renewable energy investments across the United States.

About PACOLET MILLIKEN

Headquartered in Greenville, SC, Pacolet is a family-owned investment firm that owns and manages a diverse set of power & infrastructure and real estate assets located across the United States. Pacolet’s Power & Infrastructure assets include a regulated electric utility (Lockhart Power), an industrial utilities company (Bushy Park) and a substantial solar, wind, biomass, and landfill gas portfolio. Pacolet’s Real Estate division has a national portfolio of industrial, multi-family, office, and self-storage properties. In both divisions, Pacolet seeks to positively impact the communities in which it operates and be a good steward of the environment.