Day: August 5, 2020

Embraer has billionaire losses of $336 mm

Embraer reported that revenues in its commercial aviation segment, generally the largest and most profitable, dropped 77% to R$563.9 million ($113 mm) in the second quarter due to the coronavirus pandemic. The company reported a net loss of R$1.683 billion ($336 mm) in the quarter, reversing a positive result of R$26.1 million ($5.2 mm) in the same period of 2019.

Integration Railway will arrive in Mato Grosso

The Court of Auditors of the Union has renewed the concession for the Vitória-Minas Railroad. With this, Vale began on the so-called Ferrovia de Integração do Centro-Oeste (Fico). In addition to the implementation of Fico, Mato Grosso is waiting for another decision by TCU, which will deal with Ferrogrão, with 933 kilometres of extension, investments of R$ 8.4 billion ($1.6 bn) are expected in the concession project.

Demand for clean energy drives projects in Brazil despite pandemic

The growing interest of companies in supplying their operations with clean energy should be the main factor guiding investments in generation in Brazil in the coming years, with the reduction of construction costs of wind and solar plants making these businesses viable even with the coronavirus pandemic. The “green energy contracts” market in Latin America’s largest country has attracted giants in the global electricity industry, such as France’s Engie and the U.S.’s AES.

BNDES obtains $1.6 bn from sale of Vale shares in historical operation

The National Bank of Economic and Social Development (BNDES) raised 8.1 billion ($1.6 bn) reais with the sale of a block of shares of mining company Vale at R$ 60.26 ($12.05) each on Tuesday, said the president of the institution in a social network. According to Gustavo Montezano, the transaction represents the largest “block trade” in Latin American history.

Enel Green Power obtains tax exemptions of R$ 124 million in Piaui

The MME has framed the wind power plants Ventos de São Roque, totalling 396 MW of installed capacity among 72 wind turbines in the municipality of Dom Inocêncio (PI), with the Special Regime of Incentives for the Development of Infrastructure (Reidi). Enel Green Power obtains a saving of approximately R$ 123.8 million ($24.6 mm) with the PIS/PASEP and Confins tax, with a total contribution of R$ 1.6 billion ($320 mm) for the works that begin next year.