Pacolet Milliken Acquires Georgia Renewable Power

The firm expands its clean energy footprint by adding 116 MW of biomass generating capacity to its regional portfolio.

Updated on Oct. 15, 2026 in Corporate Finance

Pacolet Milliken Acquires Georgia Renewable Power

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Pacolet Milliken has finalized the acquisition of Georgia Renewable Power, a deal financed by Manulife. This move effectively triples the company's biomass generating capacity within the state.

Why it matters

The acquisition creates significant operational synergies by consolidating management of three biomass facilities under one entity. It also strengthens the firm's position in the renewable energy sector through long-term power purchase agreements with Georgia Power.

The deal adds 116 MW of capacity to Pacolet Milliken's portfolio, bringing its total to three operating biomass facilities in Georgia. The new plants are located in Franklin County and Madison County.

The players

Pacolet Milliken

An investment firm that focuses on long-term assets and has recently moved to expand its footprint in the renewable energy sector.

Georgia Renewable Power

A renewable energy operator that manages biomass generation facilities in Georgia.

Manulife

A global financial services group that provided the financing for the acquisition.

Georgia Power

The largest electric utility in Georgia, which maintains long-term power purchase agreements with the biomass facilities.

The details

Pacolet Milliken integrated the newly acquired plants with its existing 55 MW Piedmont Green Power asset in Barnesville. These facilities generate electricity using woody biomass and supplement revenue by selling renewable energy credits on the open market.

2024: Pacolet Milliken entered the biomass sector and acquired the Piedmont Green Power plant.
October 2026: Pacolet Milliken completed the acquisition of Georgia Renewable Power.

Market Landscape

This acquisition represents a clear consolidation strategy within the Southeastern renewable energy market. By scaling its operational base, the firm is positioning itself to better compete with national energy providers while capitalizing on stable, contract-backed revenue streams.

For local utility customers, this consolidation ensures the continued operation of long-term energy supply agreements with Georgia Power. The arrangement maintains stable electricity production standards across Franklin and Madison counties.

The takeaway

This acquisition underscores the growing financial appeal of biomass energy as an asset class for investment firms. Investors looking at similar energy sectors should watch for further consolidation as firms seek operational efficiencies through regional asset clustering.