Port of South Louisiana biomass-to-biofuel plant receives $1.35bn investment
Canadian renewable fuel company Woodland Biofuels has announced a $1.35 billion investment at the Port of South Louisiana for a renewable natural gas (RNG) plant and ultra-green hydrogen facility.
The company uses waste biomass to produce sustainable biofuel.
The new facility will be located at the Globalplex facility at the Port of South Louisiana, the company said.
The first phase of commercial operations set to start in 2028.
Phase 1 of the Woodland project could see the removal of 210,000 tonnes of carbon dioxide annually, and phase 2 could remove nearly 660,000 tonnes, storing them underground.
To further support the project, the Louisiana Economic Development would offer a package worth $250 million in incentives to Woodland Biofuels.
This would include performance-based grants and the comprehensive workforce development solutions, the company said.
Macquarie Asset Management, on behalf of its institutional clients, has provided approximately €420 million of debt financing to Nadara, one of Europe’s largest renewable independent power producers (IPP)
We use cookies to enhance your browsing experience and enable essential functions on our website. Some cookies are categorised as "Necessary" are automatically stored on your browser as they are crucial for the basic operation of the site - they can no be adjusted using these tools. Additionally, we use third-party cookies to help us analyse your usage of the website. These cookies are stored in your browser only with your prior consent. You have the option to enable or disable some or all of these cookies.
Statistical or analytical cookies are used to gain insights into how visitors interact with the website. These cookies collect data on metrics like visitor count, bounce rate, traffic sources, and more, helping us understand and improve site performance.
Advertisement cookies deliver personalised ads based on the pages you previously visited and help analyse the effectiveness of ad campaigns.