In Louisiana, SunGas Renewables Inc. announced the formation of Beaver Lake Renewable Energy, LLC, which will construct a new green methanol production facility in Central Louisiana. A wholly-owned subsidiary of SunGas Renewables, BLRE is expected to generate from the facility nearly 400,000 metric tons of green methanol per year for marine fuel while creating more than 1,150 jobs during construction and more than 100 local jobs during operation.
Green methanol produced by BLRE is expected to be used to fuel A.P. Moller – Maersk’s fleet of methanol-powered container vessels and will utilize wood fiber from local, sustainably-managed forests. The methanol will have a negative carbon intensity through sequestration of nearly a million tons per year of carbon dioxide produced by the project, which will be executed by Denbury Carbon Solutions.
SunGas Renewables anticipates BLRE will invest approximately $2 billion to construct the project at the former International Paper facility in Rapides Parish. The BLRE facility is expected to begin construction in late 2024 with commercial operations commencing in 2027.
