{"id":1004701764,"date":"2024-02-09T03:46:08","date_gmt":"2024-02-09T11:46:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004701764"},"modified":"2024-02-09T06:41:29","modified_gmt":"2024-02-09T14:41:29","slug":"700m-central-louisiana-project-moves-forward","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/700m-central-louisiana-project-moves-forward\/","title":{"rendered":"$700M Louisiana Project Moves Forward"},"content":{"rendered":"
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\"\"\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button>
An aerial rendering of Louisiana Green Fuels’ new plant, which will be serviced by a Union Pacific rail line.
Image courtesy of Strategic Biofuels<\/em><\/figcaption><\/figure><\/div>\n\n

Strategic Biofuels<\/strong> and the Sumitomo Corp. of Americas<\/strong> have closed on a development agreement for the construction of the Louisiana Green Fuels project, a three-building, 327-acre liquid biofuel refinery in Caldwell Parish, La.<\/p>\n

When completed, the plant will convert local forestry waste into more sustainable fuel products, primarily aviation fuel. Construction will begin in early 2025, with an anticipated opening of 2027. At the peak of its construction, the project is expected to employ more than 1,500 workers, while the plant will create 151 long-term jobs.<\/p>\n

Lots of money and legislation<\/h2>\n

Focused on clean-energy, Louisiana Green Fuels<\/strong> is a subsidiary of Strategic Biofuels, a Columbia-based energy supply company. The project is its first in the state. For funding, SCOA is forming a cohort of fellow Japanese investors who will fund most of the project\u2019s development, in order to reach a Financial Investment Decision.<\/p>\n

According to Louisiana Economic Development, Louisiana Green Fuels made a capital investment of more than $700 million in the project, procured primarily through private investors around North Louisiana. Additionally, a partnership between the Port of Columbia and Strategic Biofuels raised $34 million in state and federal grants for the site\u2019s larger development, which includes improvements to road and rail connections, the Port\u2019s public dock as well as the site\u2019s security.<\/p>\n

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READ ALSO: <\/strong>How CRE Deals Are Changing: DLA Piper<\/span><\/a><\/p>\n

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Development plans for LGF\u2019s new plant were launched in 2020, when Strategic Biofuels held its first discussions with the state\u2019s Economic Development agency. According to a July 2022 article from Biodiesel Magazine<\/em>, the State of Louisiana passed legislation specific to Caldwell Parish that prohibited third-party drilling into the project\u2019s carbon dioxide storage reservoirs. A year later, Oil & Gas Journal<\/em> reported that the state\u2019s Department of Environmental Quality granted the project the first ever air permit, after concluding that the plant\u2019s operations would not impact the air quality of its immediate surroundings.<\/p>\n

Development, operations and capabilities<\/h2>\n

In total, Louisiana Green Fuels\u2019 Caldwell Parish plant will include a refinery that that will recycle roughly 1 million tons of forestry waste per year, a biomass-fueled power plant as well as an on-site carbon capture and storage complex. Previously, the project was intended to primarily produce biodiesel, but the new plans call for the production of 83 percent sustainable aviation fuel, with the remaining 17 percent being a renewable form of naphtha.<\/p>\n

During its operation, the plant is expected to be capable of producing 32 million gallons of fuel per year, recycling 1 million tons of forestry waste in the process. The fuel sources will consist primarily of the remains of felled pine trees. Additionally, the carbon capture facility is to retain roughly 1.36 million metric tons of CO2 per year, while SLB<\/strong> will provide engineering and design services for the complex. After its completion, the latter firm will also actively monitor the facility\u2019s performance. When operational, the power plant will generate 86 MW of power annually.<\/p>\n

With direct service to a Union Pacific rail line, the plant will be able to quickly transport finished products throughout Louisiana, as well as the Gulf of Mexico. Monroe sits 25 miles to the north of the plant.<\/p>\n

Sustainability in The Pelican State<\/h2>\n

In addition to a LGF\u2019s new plant, Louisiana has enjoyed some recent investments on the solar front. In August of 2023, First Solar Inc. announced the development of a $1.1 billion solar module manufacturing facility<\/a> in Iberia Parish.<\/p>","protected":false},"excerpt":{"rendered":"

Sumitomo Corp. and Strategic Biofuels are teaming up to develop this green fuel plant.<\/p>\n","protected":false},"author":3012,"featured_media":1004701766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21808,21748,21742,32781],"tags":[33805,52317,52318,52316],"class_list":["post-1004701764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-featured","category-industrial","category-latest","category-southeast","tag-louisiana-economic-development","tag-louisiana-green-fuels","tag-slb","tag-strategic-biofuels"],"acf":[],"yoast_head":"\n$700M Louisiana Project Moves Forward - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Strategic Biofuels and the Sumitomo Corporation of Americas have closed on an agreement for the Louisiana Green Fuels project.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/700m-central-louisiana-project-moves-forward\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$700M Louisiana Project Moves Forward\" \/>\n<meta property=\"og:description\" content=\"Strategic Biofuels and the Sumitomo Corporation of Americas have closed on an agreement for the Louisiana Green Fuels project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/700m-central-louisiana-project-moves-forward\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-09T11:46:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-09T14:41:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Plant-Site-Image-without-Labels-e1707435310924.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"811\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/700m-central-louisiana-project-moves-forward\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/700m-central-louisiana-project-moves-forward\/\",\"name\":\"$700M Louisiana Project Moves Forward - 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