The partnership aims to advance RNG solutions across North America, with a second project already in advanced planning stages.
A significant new player in the renewable energy sector has emerged with the formation of RPM Holdings, a joint venture between leading renewable natural gas developer Redtail Renewables and private investment firm Pacolet Milliken. The new partnership, headquartered in Indianapolis, has wasted no time in making its mark, announcing the acquisition of a key RNG project in Owensboro, Kentucky, that is nearing completion.
The joint venture, formally launched with the acquisition of the Owensboro RNG project at the West Daviess County landfill, signals a strong commitment to scaling renewable natural gas solutions. This strategic move leverages the combined expertise of both companies: Redtail Renewables’ proficiency in developing and operating renewable energy projects and Pacolet Milliken's experience in power and infrastructure investments.
"We are excited to launch RPM with Pacolet Milliken and begin our partnership with projects already underway," said Casey Holsapple, CEO of Redtail Renewables. "Our combined expertise in renewable energy and operations will create a platform for future growth focused on mitigating methane emissions from landfills."
The Owensboro project, located at the West Daviess County landfill, is a prime example of this commitment. The facility is designed to capture landfill gas, a potent source of methane, and convert it into high-quality renewable natural gas. Once fully operational later this year, it is expected to generate up to 500,000 MMBtu annually. The project is backed by a long-term commercial offtake agreement, ensuring a stable and reliable revenue stream. This type of project not only provides a cleaner energy source but also plays a critical role in reducing greenhouse gas emissions.
Lance Jordan, Chief Investment Officer of Pacolet Power & Infrastructure, underscored the strategic importance of the partnership. "This partnership marks an important step in scaling our RNG portfolio, and we look forward to working with the experienced team at Redtail," he said. "With much of our portfolio dedicated to assets that advance decarbonization, this joint venture enhances our ability to deliver meaningful impact while accelerating the growth of renewable natural gas."
In addition to the joint venture's acquisition, Redtail Renewables has also independently acquired a second project at the Oneida-Herkimer Regional Landfill in Boonville, New York. Redtail will manage the continued development and construction of this facility, further expanding its footprint in the renewable energy space.
The rapid progression of these projects highlights the strength and strategic vision of Redtail Renewables, which is sponsored by an equity commitment from Boston-based Inyarek Partners. Paul Kaboub, Partner and Co-founder at Inyarek, expressed confidence in the company's trajectory.
