According to Utility Dive, Harbert has completed the acquisition of the Mid-Georgia Cogen facility, a combined heat and power plant strategically located to serve dual market demands in the state's industrial landscape. The facility operates under a long-term power purchase agreement with Georgia Power, contributing peaking capacity to the utility's grid infrastructure during periods of high demand.
The cogeneration facility generates value through its dual-output model, supplying not only electricity to Georgia Power but also delivering thermal energy to an adjacent Frito-Lay manufacturing complex for food processing applications including frying and cooking operations. This integrated approach to energy utilization reflects growing industry trends toward maximizing efficiency and reducing operational costs across manufacturing operations.
The acquisition adds to Harbert's portfolio of energy infrastructure assets and underscores the continued appeal of cogeneration facilities to institutional investors seeking stable, long-term revenue streams from power purchase agreements paired with industrial offtake contracts.