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News July 26, 2023

SunGas Renewables Chooses Rapides Parish for Proposed $1.8 Billion Investment

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PINEVILLE, La. (July 26, 2023) – Cleco Power, a leading energy provider in Louisiana, congratulates SunGas Renewables Inc. on the formation of Beaver Lake Renewable Energy, LLC (“BLRE”), a new green methanol production facility, expected to be located in central Louisiana.

“BLRE represents a significant milestone in the clean energy sector and showcases our region’s commitment to sustainable development,” said Bill Fontenot, president and CEO of Cleco Corporate Holdings LLC. “This innovative project commits to reducing carbon emissions and brings economic benefits to central Louisiana.”

BLRE, a wholly owned subsidiary of SunGas Renewables, aims to produce nearly 400,000 metric tons of green methanol per year for marine fuel. The project is estimated to create over 1,150 jobs during construction and generate more than 100 local jobs during operation.

Cleco recognizes the many advantages that helped secure the Beaver Lake Renewable Energy project in central Louisiana. The region’s clean-energy solutions, pro-business approach, reliable power supply, skilled workforce, certified sites, state and local incentives, and world-class logistical infrastructure played a role in attracting this investment.

“Cleco’s commitment to serving the evolving needs of companies embracing clean-energy solutions aligns with the goals of SunGas Renewables and the Beaver Lake Renewable Energy project,” said Fontenot.

“The formation of Beaver Lake Renewable Energy is a testament to Louisiana’s determination to address climate change and foster sustainable economic growth,” said Richard Cornelison, director of marketing and economic development for Cleco Power. “Cleco is proud to have played a part in creating an environment that attracts pioneering clean energy projects like BLRE. We remain dedicated to providing reliable, clean electricity and supporting initiatives that contribute to a better and more sustainable future.”

Governor John Bel Edwards also praised the project, stating, “As the only state in the Gulf South with a climate action plan, Louisiana is a global leader in the energy transition, and companies like SunGas Renewables have taken notice.”

The partnership between SunGas Renewables and Denmark-based Maersk, the world’s largest container shipping company, further reinforces the significance of this initiative. Maersk’s commitment to decarbonizing marine shipping through the use of green methanol aligns with the goals of the Beaver Lake Renewable Energy project. The green methanol produced by BLRE will help Maersk achieve its net-zero targets while making a positive economic impact on local communities.

“Cleco Power is proud to support the development of the Beaver Lake Renewable Energy facility and looks forward to continued collaboration with SunGas Renewables, Maersk and the State of Louisiana,” said Cornelison. “By championing clean-energy solutions and providing a reliable power supply, we reaffirm our commitment to serving the evolving needs of industries driving the energy transition.”

Cleco Corporate Communications

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