ReGenerate JV acquires biomass plant in Georgia, US
Regenerate, the recently formed joint venture (JV) between Ember Infrastructure and ReEnergy Biomass Operations, acquired the plant from a subsidiary of Exelon Generation Company.
The AGE facility uses woody biomass from mill residues, forestry waste, recycling and agricultural waste sourced within a 75-mile radius of the facility. It provides 50 MW of electricity to Georgia Power, process steam to the nearby Procter & Gamble paper products facility, and process steam that is used to generate electricity for the nearby US Marine Corps Logistics Base. The facility’s 25 employees will join the ReEnergy team.
“We are very pleased to bring AGE onto the ReGenerate platform, as we continue to build a best-in-class bioenergy business,” said Elena Savostianova, managing partner of Ember.
“ReGenerate will leverage the deep expertise and experience of the ReEnergy and Ember teams to manage and optimise this important facility.”
With the acquisition, ReGenerate owns 137 MW of operating biomass power generation across three facilities, including ReEnergy Stratton and ReEnergy Livermore Falls, both located in Maine.
Larry Richardson, CEO of ReEnergy Holdings, commented: “We particularly look forward to joining the robust bioeconomy in the state of Georgia, where biomass energy is embraced as a key component of the state’s renewable energy portfolio and represents half of its total renewable electricity generation.
“In acquiring AGE, we are focused on achieving the high level of safety, environmental, and operating performance that we are proud to have achieved at the other facilities in the ReGenerate and ReEnergy portfolios."