2W Energia will make an IPO of $288 mm for wind power plants

2W Energia is another company with plans to make an initial stock offering (IPO) at B3. The company has filed an offer request with the Brazilian Securities and Exchange Commission (CVM) for a primary issuance of shares. One of the objectives with the funds to be raised, according to the prospectus, is to invest in wind energy projects. The IPO should be in the amount of R$1.5 billion ($288 mm).

Source: Agencia Estado

Brazil’s energy burden falls 3.4% in June, but shows signs of recovery, says ONS

Brazil’s electric power demand registered a drop of more than 3% in June compared to the same period last year, said the National Electric System Operator (ONS). According to ONS’s, the 61,602 average megawatt load registered by the National Interconnected System in June represents a drop of 3.4% in the annual comparison, but an increase of 2.5% in the following month.

Source: R7

Eletrobras approves $ 470 mm to Eletronuclear for Angra 3

Eletrobras informed that the company’s board of directors approved the granting of an advance for a future capital increase (Afac) of its subsidiary Eletronuclear, an operation that aims to speed up measures for the resumption of work on the Angra 3 nuclear power plant. The operation with its nuclear generation subsidiary will involve R$ 1.052 billion ($ 202 mm) in 2020 and R$ 2.447 billion ($ 470 mm) in 2021.

Source: UOL Economia

Brazil says in G20 that measures against COVID-19 are 10% of GDP

The fiscal impact of the Brazilian programme to support the economy due to the pandemic reaches almost 10% of GDP, but the measures help to mitigate the negative effects on the growth of local activity. These were some of the observations made by Brazil during the financial meeting of the G20 group. The percentage is higher than the average of 5.8% of advanced economies and 4.1% of developing countries, according to the government.

Source: Infomoney

Brazilian Congressmen conclude MP to release $6 bn to SMEs

With entrepreneurs hanged by the economic crisis, the House of Representatives concludes the provisional measure (MP) 944, which has the potential to inject up to R$ 32 billion ($6 bn) in subsidised credit to SMEs. Almost 60% of the resources should go to “Pese”, a credit line administered by BNDES to incorporate the payroll of SMEs, the program lent a little over 10% of the R$ 40 billion ($7.7 bn) available.

Source: Exame

Brazilain Pork exports grow 33% in 2020

Pork exports are expected to grow about 33% by the end of 2020, totalling 1 million tons, compared to 750,000 tons last year, according to ABPA. African swine fever has caused Asia to use Brazilian meat. Thus, Brazilian pork production should increase,and APBA estimates that 4.2 million tons will be produced, compared to 3.9 million in 2019, an increase of about 6.5%.

Source: Portal do Agronegocios