If the project moves forward as outlined, Monarch Energy expects to create 44 new direct jobs with an average annual salary of more than $63,000. It also anticipates the creation of about 300 construction jobs at peak construction. Louisiana Economic Development estimates the project would result in an additional 105 new indirect jobs, for a total of 149 potential new jobs in the Capital Region.
The company expects to make a final investment decision and begin construction in 2025. It anticipates commercial operations to commence in 2027.
To support the project in Ascension, the state of Louisiana has prepared a competitive incentives package that would include the comprehensive workforce development solutions of LED (Louisiana Economic Development) FastStart and a $500,000 performance-based forgivable loan from the Economic Development Award Program for site and infrastructure improvements. If the project moves forward, the company is expected to participate in the state’s Quality Jobs and Industrial Tax Exemption programs.
Monarch Energy was founded in 2021 with a mission to transform today’s hydrogen supply chain by utilizing clean molecules derived from water and zero carbon electricity. Monarch is developing a pipeline of projects containing more than 4 GW of future installed electrolyzer capacity across the US.
