TotalEnergies, Rising Venezuelan Oil Exports: Your Daily Energy News

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

POWER
TotalEnergies to Sell Texas Solar-Storage Assets - TotalEnergies SE (NYSE:TTE) (Courbevoie, France) said yesterday that it has agreed to sell half of its 2-gigawatt (GW) portfolio of solar and battery energy storage systems (BESS) portfolio in Texas to investment firm Apollo Global Management (NYSE:APO) (New York, New York). The transaction will result in $800 million in cash for the French group, including $550 million in equity from Apollo and $250 million as shareholder loan refinancing, a press statement says. The agreement encompasses a 50% stake in a portfolio comprising three solar projects with a total capacity of 1.7 GW and two BESS schemes of a combined 300 megawatts. (Renewables Now)

Biden Administration Awards $100 Billion in Clean-Energy Grants - U.S. President Joe Biden's administration has awarded more than $100 billion in grants created by its signature climate law, the Inflation Reduction Act (IRA), a senior administration official said. "When funds are obligated, they are protected," the official told Reuters. "They are subject to the terms of the contract, so when those contracts are signed and executed, this becomes a matter of contract law more than matter of politics." The official said the administration is on track to exceed its goal of "obligating" more than 80% of IRA grant funding by the end of Biden's term next month. (Reuters)

CRUDE OIL
Venezuela's November Oil Exports Approach 1 Million Barrels per Day - Venezuela's oil exports jumped last month on higher sales to its mainstay Asia customers, and approached 1 million barrels per day (BBL/d), a level not seen since early 2020, according to ship monitoring data. State oil company PDVSA (Caracas, Venezuela), its joint ventures and other state companies last month shipped an average of 974,033 BBL/d of crude oil and fuel, mostly to China. November's total represented a 10% increase from a revised average of almost 885,000 BBL/d in October, and stood 57% above the same month a year ago, the data showed. (Reuters)

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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).