Texas Energy Fund Loan, Canada to Fast-Track Resource Projects; Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
Governor Announces First Texas Energy Fund Loan for NatGas Power Plant - Texas Governor Greg Abbott announced on Thursday that the first Texas Energy Fund loan agreement will be used to fund a 122-megawatt natural gas power plant in Texas. The governor's office added that the Kerrville Public Utility Board (Kerrville, Texas) is the project's sponsor and will develop the facility, which is projected to begin operations by 2027. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)

CANADA
Canada Approves Law to Fast-Track Resource Project - Canada's Senate passed a bill to fast-track approval for natural resource and infrastructure projects on Thursday despite opposition from Indigenous and environmental groups who have threatened protests and legal action. The Liberal government's proposal speeds up approval of "national interest" projects, potentially including mines and oil pipelines, and eliminates some trade barriers between provinces. It passed the lower chamber last week with some Conservative support and cleared the Senate just before Parliament breaks for the summer. (Reuters)

ENVIRONMENT
Global Energy CO2 Emissions Reached New High Last Year - Global carbon dioxide (CO2) emissions from the energy sector hit a record high for the fourth year running last year as fossil fuel use kept rising even as renewable energy reached a record high, the Energy Institute's annual statistical review of world energy showed on Thursday. The world saw a 2% annual rise in total energy supply in 2024, with all sources of energy such as oil, gas, coal, nuclear, hydro and renewable energy registering increases, which last occurred in 2006, the report said. This led to carbon emissions increasing by around 1% in 2024 and exceeding the record level set the previous year at 40.8 gigatons of carbon dioxide equivalent. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).