Piedmont Green Power, LLC owns a 53.5MW biomass-fired generating facility located in Barnesville, Georgia, approximately 70 miles southeast of Atlanta. In October 2010, Atlantic closed non-recourse project-level bank financing to fund the construction of Piedmont. Atlantic owns substantially all of the equity interest in the Project.
Piedmont was developed and will be managed by Rollcast Energy, Inc., a biomass developer in which Atlantic owns a 60% interest. Construction under the terms of a fixed-price, turnkey contract has begun and is expected to be complete by the first quarter of 2013. Piedmont has a 20-year power purchase agreement with Georgia Power, under which capacity payments represent the majority of the revenues. In addition, the energy revenue and fuel supply contracts contain similar price adjustment mechanisms that are expected to mitigate potential biomass fuel price volatility. The Project will utilize approximately 500,000 tons of woody biomass annually, consisting primarily of urban wood waste, and includes mill and logging residues.
Operations and maintenance services are provided by Delta Power Services. Atlantic's affiliate, Rollcast Energy provides administrative services to the Project.