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Released January 29, 2025 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
POWER
U.S. Solar Capacity Added in November Was Second-Highest Ever - A review of data in two new reports released by the Federal Energy Regulatory Commission (FERC) and the U.S. Energy Information Administration (EIA) reveals that new solar generating capacity added in November was the second-highest monthly total ever reported, while solar generation for the first 11 months of 2024 increased by more than 26%. In addition, new solar capacity easily surpassed all other energy sources during the first 11 months of 2024, followed by wind. (Renewables Now)
Chevron to Build Gas-Fired Power Plants to Fuel Data Centers - Oil and gas producer Chevron Corporation (NYSE:CVX) (San Ramon, California) said on Tuesday it plans to build natural gas-based power plants next to data centers in the U.S., as energy demand to support the growth of artificial intelligence (AI) is expected to boom. The second-largest U.S. producer is partnering with investment firm Engine No. 1 and electric services company GE Vernova (NYSE:GEV) (Cambridge, Massachusetts) on the project. Chevron's announcement comes a day after Chinese startup DeepSeek unveiled an AI model that it says uses far less computing power than industry-leading models in the United States, prompting investors to question the billions of dollars spent on AI infrastructure and sparking a massive sell-off in tech and power stocks. (Reuters)
LNG
Venture Global Given Permission to Feed Gas to Another LNG Block at Plaquemines Plant - Federal regulators on Tuesday gave Venture Global LNG (NYSE:VG) (Arlington, Virginia) permission to introduce natural gas into the seventh block of its Plaquemines liquefied natural gas (LNG) plant in Louisiana as the company continues to ramp up production of the superchilled gas. On Tuesday, the facility was on track to pull 1.1 billion cubic feet (Bcf) of gas, down from a high of 1.3 Bcf last Wednesday, and just short of its Calcasieu Pass plant's 1.5 Bcf-per-day nameplate capacity, according to data from financial firm LSEG. At peak production, the Plaquemines facility could produce over 27 million metric tons per year, according to the company. The entire facility will not be fully commissioned until 2027, it said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (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).
POWER
U.S. Solar Capacity Added in November Was Second-Highest Ever - A review of data in two new reports released by the Federal Energy Regulatory Commission (FERC) and the U.S. Energy Information Administration (EIA) reveals that new solar generating capacity added in November was the second-highest monthly total ever reported, while solar generation for the first 11 months of 2024 increased by more than 26%. In addition, new solar capacity easily surpassed all other energy sources during the first 11 months of 2024, followed by wind. (Renewables Now)
Chevron to Build Gas-Fired Power Plants to Fuel Data Centers - Oil and gas producer Chevron Corporation (NYSE:CVX) (San Ramon, California) said on Tuesday it plans to build natural gas-based power plants next to data centers in the U.S., as energy demand to support the growth of artificial intelligence (AI) is expected to boom. The second-largest U.S. producer is partnering with investment firm Engine No. 1 and electric services company GE Vernova (NYSE:GEV) (Cambridge, Massachusetts) on the project. Chevron's announcement comes a day after Chinese startup DeepSeek unveiled an AI model that it says uses far less computing power than industry-leading models in the United States, prompting investors to question the billions of dollars spent on AI infrastructure and sparking a massive sell-off in tech and power stocks. (Reuters)
LNG
Venture Global Given Permission to Feed Gas to Another LNG Block at Plaquemines Plant - Federal regulators on Tuesday gave Venture Global LNG (NYSE:VG) (Arlington, Virginia) permission to introduce natural gas into the seventh block of its Plaquemines liquefied natural gas (LNG) plant in Louisiana as the company continues to ramp up production of the superchilled gas. On Tuesday, the facility was on track to pull 1.1 billion cubic feet (Bcf) of gas, down from a high of 1.3 Bcf last Wednesday, and just short of its Calcasieu Pass plant's 1.5 Bcf-per-day nameplate capacity, according to data from financial firm LSEG. At peak production, the Plaquemines facility could produce over 27 million metric tons per year, according to the company. The entire facility will not be fully commissioned until 2027, it said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (Reuters)
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).
