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Georgia Renewable Power, LLC
2100 Southbridge Parkway
Suite 585
Birmingham, AL  35209  United States
Business Summary
Georgia Renewable Power, LLC ("GRP") and Georgia Power Finance Corp. ("GRP Finance") are issuing $225 million in Senior Secured Notes due 2022 on a joint and several basis. Proceeds from the Notes issuance along with sponsor equity of $60 million will go toward completing construction costs of two biomass-generating facilities in Lumberton, NC and Franklin, GA; to repay outstanding borrowings under a sponsor-provided loan; to cash-fund reserve accounts and pay transaction fees. The Lumberton facility will be a 35 megawatt (MW) poultry-litter fueled power station at construction completion with 50MW of thermal capacity. The Franklin facility will be a 79MW wood-biomass generating facility at construction completion. GRP and GRP Finance are owned by Raymon Bean through his wholly owned companies in which he owns 100% of the equity interests. Mr. Bean has extensive experience in the energy sector including, oil drilling, oil field services, and various coal operations.

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Financials, News and Filings
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Monday, March 25, 2024