STOCK TITAN

Altamaha Green Energy Receives Certified Purchase Power Agreement

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Altamaha Green Energy (AGE), a joint venture between Beasley Green Power, and Rayonier Advanced Materials (RYAM), has received certification from the Georgia Public Service Commission for a Power Purchase Agreement. This agreement allows AGE to produce and sell up to 70 MW of electricity to Georgia Power Company for a 30-year period.

The project, still in development, aims to utilize renewable forestry waste such as bark, tree limbs, and other biomass to generate sustainable electricity. This initiative is expected to address the growing demand for renewable energy while boosting Georgia's forestry economy and creating jobs. AGE was formed in response to Georgia Power's competitive bidding process for renewable energy solutions.

Altamaha Green Energy (AGE), una joint venture tra Beasley Green Power e Rayonier Advanced Materials (RYAM), ha ricevuto la certificazione dalla Georgia Public Service Commission per un Accordo di Acquisto di Energia. Questo accordo consente ad AGE di produrre e vendere fino a 70 MW di elettricità alla Georgia Power Company per un periodo di 30 anni.

Il progetto, ancora in fase di sviluppo, mira a utilizzare rifiuti forestali rinnovabili come corteccia, rami di alberi e altre biomasse per generare elettricità sostenibile. Questa iniziativa dovrebbe affrontare la crescente domanda di energia rinnovabile, sostenere l'economia forestale della Georgia e creare posti di lavoro. AGE è stata costituita in risposta al processo di gara aperto da Georgia Power per soluzioni energetiche rinnovabili.

Altamaha Green Energy (AGE), una empresa conjunta entre Beasley Green Power y Rayonier Advanced Materials (RYAM), ha recibido la certificación de la Comisión de Servicios Públicos de Georgia para un Acuerdo de Compra de Energía. Este acuerdo permite a AGE producir y vender hasta 70 MW de electricidad a Georgia Power Company por un período de 30 años.

El proyecto, que aún está en desarrollo, tiene como objetivo utilizar residuos forestales renovables como corteza, ramas de árboles y otra biomasa para generar electricidad sostenible. Se espera que esta iniciativa aborde la creciente demanda de energía renovable, al mismo tiempo que impulsa la economía forestal de Georgia y crea empleos. AGE se formó en respuesta al proceso de licitación competitiva de Georgia Power para soluciones de energía renovable.

알타마하 그린 에너지(AGE)는 비즐리 그린 파워와 레이온니어 어드밴스드 머티리얼즈(RYAM) 간의 합작 투자로, 조지아 공공 서비스 위원회로부터 전력 구매 계약에 대한 인증을 받았습니다. 이 계약은 AGE가 조지아 파워 컴퍼니에 최대 70MW의 전기를 생산하고 판매할 수 있도록 허용하며, 30년 동안 유효합니다.

이 프로젝트는 아직 개발 중에 있으며, 재생 가능한 임업 폐기물인 나무 껍질, 가지 및 기타 바이오매스를 활용하여 지속 가능한 전기를 생산하는 것을 목표로 하고 있습니다. 이 이니셔티브는 재생 에너지에 대한 증가하는 수요를 충족하고 조지아의 임업 경제를 강화하며 일자리를 창출할 것으로 예상됩니다. AGE는 재생 에너지 솔루션을 위한 조지아 파워의 경쟁 입찰 프로세스에 대응하여 설립되었습니다.

Altamaha Green Energy (AGE), une coentreprise entre Beasley Green Power et Rayonier Advanced Materials (RYAM), a reçu la certification de la Commission des services publics de Géorgie pour un contrat d'achat d'énergie. Ce contrat permet à AGE de produire et de vendre jusqu'à 70 MW d'électricité à la Georgia Power Company pendant une période de 30 ans.

Le projet, encore en développement, vise à utiliser des déchets forestiers renouvelables tels que l'écorce, les branches d'arbres et d'autres biomasses pour générer de l'électricité durable. Cette initiative est censée répondre à la demande croissante d'énergie renouvelable tout en stimulant l'économie forestière de la Géorgie et en créant des emplois. AGE a été formée en réponse au processus d'appel d'offres compétitif de Georgia Power pour des solutions énergétiques renouvelables.

Altamaha Green Energy (AGE), ein Gemeinschaftsunternehmen zwischen Beasley Green Power und Rayonier Advanced Materials (RYAM), hat die Zertifizierung der Georgia Public Service Commission für einen Stromkaufvertrag erhalten. Dieser Vertrag erlaubt es AGE, bis zu 70 MW Strom an die Georgia Power Company für einen 30-jährigen Zeitraum zu produzieren und zu verkaufen.

Das Projekt, das sich noch in der Entwicklung befindet, zielt darauf ab, erneuerbare Forstabfälle wie Rinde, Baumäste und andere Biomasse zur Erzeugung nachhaltiger Elektrizität zu nutzen. Diese Initiative soll der wachsenden Nachfrage nach erneuerbaren Energien gerecht werden und gleichzeitig die Forstwirtschaft in Georgia ankurbeln und Arbeitsplätze schaffen. AGE wurde als Antwort auf den Wettbewerbsprozess von Georgia Power für erneuerbare Energielösungen gegründet.

Positive
  • Secured a 30-year Power Purchase Agreement with Georgia Power Company
  • Potential to produce and sell up to 70 MW of electricity
  • Project aligns with growing demand for renewable energy
  • Expected to strengthen Georgia's forestry economy and boost associated jobs
Negative
  • Project is still in the development phase, indicating potential delays or uncertainties

JESUP, Ga.--(BUSINESS WIRE)-- Altamaha Green Energy (AGE), a joint venture between Beasley Green Power, LLC and Rayonier Advanced Materials (RYAM), announced that the Georgia Public Service Commission has certified a Power Purchase Agreement for AGE to produce and sell up to 70 MW of electricity to Georgia Power Company for a 30-year period. This approval marks a significant milestone in AGE’s development of a renewable energy project aimed at producing sustainable electricity for the state of Georgia.

"Altamaha Green Energy was formed in response to Georgia Power's competitive and public bidding process for renewable energy solutions," said Darrell Beasley, Chairman of AGE. "Combining our extensive expertise in renewable forestry operations with RYAM’s world-class high-purity cellulose plant in Jesup, we are well-suited to contribute to Georgia's energy future."

Though still in the development phase, the AGE project aims to utilize renewable forestry waste, such as bark, tree limbs and other biomass generally discarded as waste, to generate sustainable electricity for Georgia residents. The project is poised to meaningfully impact the growing demand for renewable energy while strengthening Georgia's forestry economy and boosting associated jobs. Additional information about the project will be shared as the project progresses.

About AGE

Altamaha Green Energy LLC (AGE) is a joint venture between Beasley Green Power, LLC and RYAM. Located in Jesup, Georgia, AGE was formed to evaluate the feasibility of developing a 70 MW renewable biomass power plant aimed at producing sustainable electricity for the state of Georgia.

About Beasley Green Power, LLC

Beasley Green Power, LLC is an affiliate of the Beasley Group of companies which are global leaders in the forest products industry, specializing in quality softwood and hardwood products. With over 50 years of experience, the Beasley Group of companies have evolved from a two-employee logging operation to numerous mills and operations throughout the United States including several wood pellet plants, flooring plants, a veneer plant, logging and procurement operations, and several softwood and hardwood sawmills. The Beasley Group of companies offer a diverse product portfolio, including dimensional softwood lumber, grade hardwood lumber, crane mats, railroad cross ties, switch ties, industrial pallet lumber, residuals like bark, chips, and sawdust, flooring products, wood flour, pine shavings, veneer, and wood pellets. For more information, visit www.BeasleyGroup.com.

About RYAM

RYAM is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly used in the production of filters, food, pharmaceuticals and other industrial applications. RYAM’s specialized assets, capable of creating the world’s leading high purity cellulose products, are also used to produce biofuels, bioelectricity and other biomaterials such as bioethanol and tall oils. The Company also manufactures products for the paper and packaging markets. With manufacturing operations in the U.S., Canada and France, RYAM generated $1.6 billion of revenue in 2023. More information is available at www.RYAM.com.

Ryan Houck 904-357-9134

Source: Altamaha Green Energy

FAQ

What is the capacity of the Power Purchase Agreement secured by Altamaha Green Energy (RYAM)?

Altamaha Green Energy has secured a Power Purchase Agreement to produce and sell up to 70 MW of electricity to Georgia Power Company.

How long is the duration of the Power Purchase Agreement for Altamaha Green Energy (RYAM)?

The Power Purchase Agreement for Altamaha Green Energy is for a 30-year period.

What type of renewable energy will Altamaha Green Energy (RYAM) produce?

Altamaha Green Energy aims to produce sustainable electricity using renewable forestry waste, such as bark, tree limbs, and other biomass generally discarded as waste.

Who are the partners in the Altamaha Green Energy (RYAM) joint venture?

Altamaha Green Energy is a joint venture between Beasley Green Power, and Rayonier Advanced Materials (RYAM).

Rayonier Advanced Materials Inc.

NYSE:RYAM

RYAM Rankings

RYAM Latest News

RYAM Stock Data

482.01M
65.89M
3.69%
78.15%
1.16%
Chemicals
Pulp Mills
Link
United States of America
JACKSONVILLE