Kindle Energy breaks ground on $750 million electric generation plant in Iberville Parish
Gov. John Bel Edwards joined Iberville Parish President J. Mitchell Ourso and Kindle Energy CEO Lee Davis for the groundbreaking of a $750 million electric generation plant south of Plaquemine.
The 700-megawatt electric generation plant in Iberville Parish will produce enough electricity to power more than 500,000 homes a year. The facility, named the Magnolia Power Generating Station, will provide electricity directly to five rural utility cooperatives across Louisiana starting in 2025.
The company expects to create 25 new direct jobs with an average annual salary of $100,000. Louisiana Economic Development estimates the project will result in another 94 new indirect jobs, for a total of 119 new jobs in the Capital Region.
“This investment by Kindle Energy is a win for job creation, emissions reduction and rural resilience,” Edwards said. “Magnolia Power will increase the affordability and sustainability of electricity to some of the state’s most rural communities. It also will modernize the state’s public utility infrastructure by employing gas turbine technology that uses natural gas and carbon-free hydrogen rather than carbon-intensive coal as its fuel source.”
Magnolia Power will supply power to the 1803 Electric Cooperative, an alliance of five utility groups: Beauregard Electric Cooperative, Claiborne Electric Cooperative, Northeast Louisiana Power Cooperative, South Louisiana Electric Cooperative Association and Washington-St. Tammany Electric Cooperative Inc.
“Kindle Energy is excited to bring the Magnolia Power Generating Station to Louisiana to serve the 1803 Electric Cooperative and deliver clean, efficient power across the state,” Davis said. “Magnolia Power represents substantial progress toward the cleaner, more efficient energy mix of the future, and supports Gov. Edwards’ goals to reduce Louisiana’s carbon footprint by 2050.”
The New Jersey-based company expects the plant to begin commercial operations in May 2025. Kindle Energy estimates up to 475 jobs will be created during peak construction.
“Adding a company like Kindle Energy to Iberville’s portfolio of outstanding businesses further strengthens Iberville Parish as an economic driver for the State of Louisiana,” Ourso said. “With a strong footprint of success, Kindle Energy’s Magnolia Power Generating facility will no doubt become a strong community partner.”
Magnolia Power has applied to participate in Louisiana’s Industrial Tax Exemption program.
“We applaud Kindle Energy for their decision to invest in Iberville Parish in Louisiana’s Capital Region,” said Adam Knapp, Baton Rouge Area Chamber president and CEO. “Kindle Energy’s investment adds to our quickly growing new energy sector, which has seen over $25 billion in announced or proposed projects since 2020. This is a big win for Iberville Parish to secure this $750 million capital investment.”
Kindle also manages and operates nearly 6.5 GigaWatts of generation located in Texas, Ohio and Indiana, capable of powering approximately 5.2 million homes.
The plans moved forward after two years of discussion between Kindle and Iberville Parish officials. The geographic location along the Mississippi River continues to help parish tax revenue, Ourso said.
“It makes our jobs much easier here in giving opportunities for our people to have employment and to generate tax revenue for us to serve our people with roads and drainage and schools to the children of our parish,” Ourso said in a November interview. “All of the entities throughout our parish benefit from that, whether you’re from White Castle or Maringouin or wherever… everyone benefits from the tax base here.”
Work on the facility comes during a period of industrial growth in the region, which has Shintech’s expansion of facilities in Iberville and West Baton Rouge parishes.
On the Eastbank, A facility in St. Gabriel is one of two Louisiana
companies that were awarded $320 million in U.S. Department of
Energy funding last month from the Bipartisan Infrastructure Law (BIL) to expand manufacturing of electric vehicle battery components.
Koura has been awarded $100 million to build the first U.S. manufacturing plant for lithium hexafluoride phosphate (LiPF6) on the grounds of the company’s existing site in St. Gabriel. The new plant is expected to create up to 80 new jobs.