Brazilian Gross Production grows 11.5%

The Gross Production Value (GVP), which measures the revenues from agricultural activities, should reach R$746.2 billion ($143 bn) in 2020, 11.5% more than in 2019, according to the Brazilian Confederation of Agriculture and Livestock (CNA). For agriculture, CNA projects an increase of 16.2% in 2020 compared to last year, with gross revenues of R$478.2 billion ($91 bn).

Source: Portal do Agronegocio

Castlelake expects to invest up to $960 mm in renewable energy in Brazil

Castlelake resource manager has plans to invest between R$4 billion and R$5 billion ($769 and $960 mm) in renewable energy in Brazil in the next five years, after closing the acquisition of the Queiroz Galvão construction company’s generation unit in the country. The investments will be made through Ibitu Energia and the objective is to double the installed capacity in the next five years.

Source: UOL Economia

Enel Brasil invested $10.5 mm in social activities

Enel Brasil invested R$ 55 million ($10.5 mm) in projects and social initiatives in 2019, generating about R$9.5 million ($1.8 mm) in income for the communities where the company operates. The data outlines the financial and socio-environmental impacts and performance of Enel’s operations in the country, as well as the progress of the company’s goals with the Sustainable Development Goals of the 2030 UN Agenda.

Source: Canal Energia

Brazil’s GDP fell 10.5% in the quarter ended in May

The Gross Domestic Product (GDP) fell 10.5% in the quarter ended in May this year, compared with the same period last year. In comparison with the quarter closed in February of this year, the drop reached 9.4%. The data are from the FGV – GDP Monitor. Considering only the month of May, there was a 13.3% drop compared to the same month last year.

Source: Money Times