SunGas Renewables, an independent division of GTI Energy, announced it’s considering investing $1.8 billion for a renewable low-carbon methanol production facility in Rapides Parish about 80 miles north of Lafayette, Louisiana.
Beaver Lake Renewable Energy in Pineville would manufacture nearly 400,000 metric tons of green methanol per year for SunGas customers worldwide, according to an announcement from Louisiana Economic Development. The Danish shipping and logistics company A.P. Moller-Maersk has signed a letter of intent for an offtake agreement with SunGas to purchase fuel from the proposed facility for its fleet of methanol-powered container vessels, should SunGas go through with final investment.
The project would create 109 direct jobs with an average salary of more than $78,000, as well as 1,150 temporary construction jobs.
The state offered SunGas an incentives package that includes LED FastStart and a $6 million performance-based grant for infrastructure improvements upon meeting investment and employment targets. If the project moves forward, the company is also expected to participate in the state’s Quality Jobs and Industrial Tax Exemption programs
