Month: July 2020

Soybean exports in Paraná grow nearly 60%

Paraná has never exported as much soy as in the last harvest, the increase was almost 60%. From January-June 2020 the state exported 9.2 million tons of the grain, according to the port administration. According to analysts, in need of animal feed, the Chinese increased the demand for Brazilian grain.

S&P Global downgrades Goal rating to CCC+

The S&P rating agency downgraded Gol’s rating on the global scale from B- to CCC+, citing the company’s increased risk of failing to pay off a $300 million debt due in August. The agency also put the company’s rating on ‘under development,’ depending on the company’s ability to complete debt refinancing.

Infrastructure requires $8 bn for Pró-Brasil works

The Ministry of Infrastructure’s final proposal for investments in public works through Pró-Brasil foresees a budget requirement of R$ 40.4 billion ($ 8bn) from 2020 to 2023. The resources would be invested in 153 road, rail, waterway and airport projects. To start these works this year, the IM need an extra injection of R$ 5 billion ($ 1bn). The ministry has already executed 70% of the budget guaranteed in 2020.

Eneva will propose $1.5 bn for AES Tietê

Eneva Electric informed that it will make a new proposal around R$ 7.5 billion ($1.5 bn) to incorporate AES Tietê, as long as it has the support of BNDESPar, the biggest shareholder of the generator that also has as partner the North American group AES. Eneva plans to pay the transaction with 130,498,292 new common shares and a cash portion of R$ 727.89 million ($ 145 mm).

Solatio negotiates 1.2 GWp solar complex in Janauba with Brookfield

Brookfield Energia Renovável has signed a contract with Solatio for the acquisition of the solar complex with 20 parks in the final stage of development, totalling 1,200 MWp of installed capacity. The total investment in these assets is estimated at R$3 billion ($600mm). The asset occupies an area of over 3,000 hectares in the municipality of Janaúba, northern Minas Gerais.