Kindle Energy announced it is building a $750 million, 700-megawatt electric generation plant in Iberville Parish that will produce enough electricity to power more than 500,000 homes per 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,” Gov. John Bel 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.”
The announcement was made Monday at a groundbreaking ceremony attended by Gov. Edwards, Iberville Parish President Michael Ourso and Kindle Energy CEO Lee Davis.
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.”
About Kindle Energy
Kindle Energy is an experienced developer and operator of power generation fleets, with over 60,000 MW of operation experience across all generation technologies. Kindle Energy currently manages over 11,000 MW of generation across the U.S.
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant economy. It is the only state agency in the U.S. accredited by the International Economic Development Council, boasting award-winning programs like LED FastStart, rated the No. 1 customized workforce training program in the U.S. 13 years in a row. In 2022, LED attracted 53 new economic development projects representing 18,137 new direct, indirect and retained jobs and $20.7 billion in new capital investment. Explore how LED cultivates jobs and economic opportunity for the people of Louisiana and employers of all sizes at OpportunityLouisiana.com.
LED Media Contacts:
Mark Lorando, Communications Director
Ron Thibodeaux, Press Secretary
Kindle Energy Media Contact:
Julie L. Friedberg, Vice President, Development