Day: September 16, 2020

MME and BNDES seek funding for Amazon light project

The Ministry of Mines and Energy (MME) and the BNDES signed an agreement to allow the collection of funds to finance the Mais Luz for the Amazon (MLA) Programme. The project’s goal is to bring renewable energy to 82,000 families in remote areas of the region. In total, the MME estimates that the programme will benefit over 350,000 people. The total cost is budgeted at over R$3 billion ($566 mm).

Petrobras estimates to invest $50 bn in pre-salt by 2025

Petrobras has revised its exploration and production (E&P) portfolio due to the coronavirus crisis and now estimates investments of approximately $40 bn to $50 bn between 2021 and 2025, compared to $64 bn in its 2020-2024 plan. The company said that the revision considered the focus on deleveraging to be a guideline and forecast to reach the gross debt target of $60 bn by 2022.

Photovoltaic generation in Brazil shows annual growth of 25%

The generation of photovoltaic plants grew 25% in August compared to the same period in 2019, according to data released by the Chamber of Electricity Commercialisation (CCEE). The source totalled 751 MW in the month, compared to 601 MW last year. On the same basis of comparison, hydroelectric generation grew 15.7%, following the gradual resumption of energy consumption as a result of the country’s return to activity.

Pandemic reduced sales or services in 36.1% of companies in Brazil

The pandemic caused a reduction in sales or services sold in 36.1% of companies operating in the country in the first half of August. The data are from the Pulse Company Survey, which is part of IBGE’s Experimental Statistics. On the other hand, 33.6% of the companies said the effect was small or non-existent, and another 30.3% of the companies said they had registered an increase in sales with the pandemic.