Woodland Biofuels to Invest $1.35 Billion in Renewable Energy Facilities in Louisiana Port
Key Ideas
- Woodland Biofuels to establish a renewable natural gas (RNG) plant and ultra-green hydrogen facility at the Port of South Louisiana with a $1.35 billion investment.
- The project aims to reduce natural gas usage, capture climate-warming emissions, and remove around 660,000 tonnes of carbon dioxide annually.
- Louisiana Economic Development offers a $250 million incentive package to support the venture, including grants and workforce development solutions.
- The first phase of commercial operations is scheduled to begin in 2028, contributing to sustainable biofuel production for various applications.
Woodland Biofuels, a Canadian renewable fuel company based in Toronto, Ontario, has announced a significant investment of $1.35 billion to establish a renewable natural gas (RNG) plant and ultra-green hydrogen facility at the Port of South Louisiana. The company specializes in producing sustainable biofuel from waste biomass that can be utilized in transportation, heating, and electricity generation. The new facility at the Globalplex facility in the port is expected to commence its first phase of commercial operations by 2028. This initiative aims to leverage RNG's environmental benefits, such as reducing natural gas usage and capturing climate-warming emissions, which would otherwise be released into the atmosphere. Despite RNG being more costly than natural gas, the Woodland project's first phase could result in the removal of 210,000 tonnes of carbon dioxide annually, with a potential to remove nearly 660,000 tonnes in the second phase. While specific financial details and RNG production capacity were not disclosed, the Louisiana Economic Development is extending support with a $250 million incentive package, encompassing performance-based grants and workforce development solutions. Overall, this venture signifies a positive step towards advancing renewable energy and sustainability practices in the region, with a focus on economic growth and environmental impact mitigation.