NEW ORLEANS — Blackstone Energy Transition Partners has completed construction of the Magnolia Power Generating Station, a $750 million, 694-megawatt combined-cycle natural gas plant in Iberville Parish, marking the start of commercial operations.
Developed by Kindle Energy, Blackstone’s North American power platform, the greenfield facility was first announced in 2021, with groundbreaking later that year in Iberville Parish. Construction began in 2022 and supported more than 400 local construction jobs, with employment peaking at approximately 475 workers during the buildout.
With the plant now operational, the company expects to create 25 permanent direct jobs with an average annual salary of $100,000. Louisiana Economic Development previously estimated the project would generate an additional 94 indirect jobs, for a total of 119 ongoing jobs in the Capital Region.
Magnolia Power – Powering Rural Louisiana
Magnolia Power is expected to generate enough electricity to power more than 500,000 homes annually in Louisiana. The facility will provide electricity directly to five rural utility cooperatives through the 1803 Electric Cooperative alliance beginning in 2025. The alliance includes Beauregard Electric Cooperative; Claiborne Electric Cooperative; Northeast Louisiana Power Cooperative; South Louisiana Electric Cooperative Association; and Washington-St. Tammany Electric Cooperative Inc.
The plant is described as the first hydrogen-capable, advanced-class generator facility in the Midcontinent Independent System Operator (MISO) South region and is expected to be the most efficient plant in the MISO South system.
Powered by GE’s 7HA.03 gas turbine — one of only a small number of its kind in North America — the facility is initially fueled by natural gas but is capable of operating on up to 50% hydrogen by volume as hydrogen becomes more available in the region. The advanced H-class turbine technology is designed to improve efficiency and reduce emissions compared to older coal-fired generation.
Backed by Blackstone
With commercial operations now underway, Blackstone officials said the project helps address rising electricity demand tied in part to digitization, artificial intelligence and regional coal plant retirements.
“Blackstone is proud to invest in new energy supply generation needed to fuel economic growth and support rising power demand in the region,” said Bilal Khan, senior managing director at Blackstone. “We are excited to have backed this critical project, which has created hundreds of jobs and will help deliver more affordable, efficient and reliable electricity for Louisiana.”
Lee Davis, CEO of Kindle Energy, said, “This marks an important milestone for our company as we continue to build new, efficient power generation for our valued partners and customers in Louisiana, Colorado, and West Virginia. We look forward to our continued partnership with Blackstone to support rising energy needs in North America.”
“Magnolia Power Generating Station will help deliver affordable and reliable electricity to more than 500,000 homes while supporting hundreds of American jobs in Louisiana,” said U.S. Deputy Secretary of Energy James P. Danly.
“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.”
Economic Impact in Iberville Parish
Magnolia Power has applied to participate in Louisiana’s Industrial Tax Exemption Program.
The project is part of a broader national build-out by Blackstone Energy Transition Partners, which has invested in approximately 2 gigawatts of power generation capacity in the United States over the past year and has committed more than $27 billion in equity globally across energy-related investments.
