- Energy: Biomass power plant
- Expected commissioning date: 2029
- Expected installed capacity: 70 MW
Albioma is accelerating its expansion in the United States through the acquisition of a 43% economic interest in Altamaha Green Energy, a company developing a 70 MW biomass cogeneration plant in Jesup, Georgia.
This major project is being developed alongside the Beasley Group, a long-standing partner of Albioma, and Rayonier Advanced Materials (RYAM), a global leader in cellulose-based products for a broad range of industrial applications.
Located in southeastern Georgia, the future facility will generate renewable electricity under a long-term power purchase agreement (PPA) with Georgia Power while supplying process steam to RYAM’s industrial facility. The plant will therefore support both the regional power grid and a major local industrial customer.
The facility will be fueled by sustainably sourced residues from the regional forestry industry. Feedstock procurement will be secured by the Beasley Group and will comply with the highest sustainability certification standards.
Construction is now well underway, with a dedicated project team fully mobilised. Commercial operations are expected to begin in 2029. The total construction cost amounts to $650 million with financing provided through a $477 million project finance facility arranged by Mizuho, Santander and La Caisse (formerly CDPQ), three of Albioma’s long-standing financing partners.
This major investment follows the acquisition, announced on July 2, 2026, of Archer Forest Products, a wood pellet production facility also located in Georgia. These two transactions represent a significant step forward in Albioma’s expansion in the United States and underscore the Group’s strategy of diversifying its growth platform across new geographies.
They also enable Albioma to leverage more than three decades of biomass expertise in a market offering abundant local resources, growing energy demand, and strong long-term growth potential.
Julien Gauthier, CFO and Deputy CEO of Albioma, stated: “This project represents the largest single investment in Albioma’s history. The strength of our business model enables us to finance our share of the equity entirely from our own resources. Fully aligned with our strategy, this investment marks a major milestone in the Group’s development as we continue to diversify our growth platform. Its scale demonstrates our ability to export the biomass expertise we have built over more than 30 years in the French overseas territories to new international markets. It also reinforces Albioma’s position as a leading player in renewable biomass energy. Above all, this achievement reflects the dedication and expertise of our teams, whom I warmly thank, as well as the continued trust of our partners.”
