Entergy, HYUNDAI-POSCO Louisiana Steel sign electric service agreement for $5.8B steel mill in Louisiana

DONALDSONVILLE, La. - Hyundai Steel, along with POSCO and other Hyundai Motor Group affiliates, has made a groundbreaking decision to invest $5.8 billion in a new manufacturing facility in Louisiana, and Entergy Louisiana has finalized an electric service agreement with the company's domestic steelmaking venture, HYUNDAI-POSCO Louisiana Steel (HPLS), to power the site and support its long-term energy needs. This agreement was contemplated in Entergy's more recent outlooks provided in April 2026.

Entergy Louisiana leadership executed the agreement alongside Hyundai Steel officials, underscoring the global significance of the project and the partnership. This critical milestone ensures reliable, long-term energy delivery for the facility and marks a major step forward in bringing the project online.

"Hyundai Steel's investment is forging strength and opportunity for Louisiana," said Phillip May, Entergy Louisiana president and CEO. We're thrilled Hyundai Steel has decided to call Louisiana home, and together, we're powering new opportunities and strengthening our state's position as a leader in advanced manufacturing."

This first-of-its-kind project marks Hyundai Motor Group's inaugural North American steel mill, establishing a fully integrated, made-in-America supply chain to support its automotive manufacturing operations across the United States.

"Entering into this agreement with Entergy Louisiana marks an important milestone in bringing our low-carbon emitting integrated steel mill to life," said Chul Soon Jang, HYUNDAI-POSCO Louisiana Steel president. "Reliable, affordable and forward-looking energy service is essential to our vision, and Entergy's partnership gives us the confidence to invest boldly in Louisiana. This facility represents a major step in strengthening our North American supply chain, advancing next-generation steel production and contributing to economic growth in the region."

The mill for low-carbon emissions automotive steel will be located on approximately 1,800 acres in Donaldsonville, Louisiana, anchoring the RiverPlex MegaPark on the Westbank of the Mississippi River in Ascension Parish. At approximately 17,000 acres, RiverPlex is the largest undeveloped tract along the deep-water Mississippi River.

The new steel mill is expected to create more than 1,300 direct new jobs. Louisiana Economic Development estimates the project will result in about 4,100 indirect new jobs, for a total of 5,400 potential new jobs in the Capital Region.

The finalized electric service agreement underscores Entergy's ability to support large-scale, energy-intensive manufacturing projects with reliable, affordable power - a key factor in attracting leading global industries to Louisiana.

About Entergy Louisiana

Entergy Louisiana provides electricity to more than 1.1 million customers in 58 parishes. Entergy Louisiana is a subsidiary of Entergy Corporation (NYSE: ETR). Entergy generates, transmits and distributes electricity to power life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We're focused on keeping costs for our customers as low as possible while providing reliable energy that our communities count on. We're also investing in growth for the future with a more resilient, cleaner energy system that includes modern natural gas, nuclear and renewable energy generation. As a nationally recognized leader in sustainability and corporate citizenship, Entergy delivers more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at EntergyLouisiana.com and connect with @EntergyLA on social media.

About the Louisiana 100 Plan

The Louisiana 100 Plan is Entergy Louisiana's bold, decade-long commitment to power progress across the state in honor of a century of service. Entergy has outlined six strategic goals focused on affordability, grid resilience, economic growth, job creation, community investment and volunteerism. Through this plan, Entergy aims to help keep residential electric rates low, strengthen infrastructure to withstand extreme weather, attract new industry and jobs and invest $100 million in Louisiana communities. The Louisiana 100 Plan is a clear roadmap for building a stronger, more resilient Louisiana learn more at EntergyLouisiana.com/100-plan.