The U.S. export and import bank approved a $97.2 million working capital loan guarantee for Embraer’s executive jet unit in the country. Embraer is struggling to create a new future since Boeing cancelled its $4.2 billion acquisition of the Brazilian manufacturer’s commercial aircraft arm in April.
The approval of the new legal framework for gas will modernize the regulation of the sector and may unlock R$ 60 billion ($ 12bn) in estimated investments in this area. The assessment was made by Moody’s when the House of Representatives signals to resume the assessment of the matter in the next few days, after approving, by 323 votes, the urgency for the processing of what is called the Gas Law.
The National Electrical Energy Agency (Aneel) granted Rio Alto Energia a 35-year concession for the implementation and operation of five photovoltaic plants under the regime of independent production of electricity, totalling 135 MW of installed capacity in the municipality of Coremas, in the countryside of Paraiba.
Eletrobras’ Board of Directors approved the binding offers made by Omega Generation of approximately R$1.5 billion ($ 300 mm) for acquisition in wind farms in Rio Grande do Sul. According to a statement by Omega, the proposal for 78% of the state-owned company’s share of the Santa Vitória do Palmar Complex, with 402 MW, was about R$ 1 billion ($200 mm), and cash payment of R$ 434.5 million ($ 86mm).
Petrobras announced a reduction in its quarterly losses in the second quarter and pointed to “signs of recovery” from the global economic crisis caused by the coronavirus pandemic. The company based in Rio de Janeiro registered a net loss of R$ 2.7 billion ($540 mm) in the April-June period, lower than the R$ 48.5 billion ($9.6bn) of the first quarter of 2020.