Louisiana grants $100Mm bonds for Chevron biodiesel plant expansion
In Texas, Rigzone reported that Louisiana has allotted $100 million in bonds to support Chevron Corp.’s expansion of its renewable diesel production facility in Geismar, Louisiana. Governor Jeff Landry announced the allocation at the Louisiana Mid-Continent Oil and Gas Association’s annual conference. Renewable Energy Group Inc. (REG) and then Governor John Bel Edwards announced the expansion project 2020. Chevron has taken over the facility, which has a biorefining capacity of 90 gallons a year, since acquiring REG in 2022, according to the report. A news release by the Louisiana Office of Economic Development announcing the expansion project, which is planned to raise the plant’s processing capacity to 340 million gallons per year, said the state would provide a $5 million workforce grant, as well as tax incentives. Chevron has set a target of growing its renewable fuel production capacity to 100,000 barrels per day by 2030, the report added.
