Brazil is in the Top 5 of uncertainty among 20 countries

The uncertainty with the Brazilian economy operated, during the pandemic, among the five highest in the 20 countries that have this type of indicator. A Getulio Vargas Foundation (FGV) survey shows that the level of uncertainty with the country’s activity averaged 148.5 points from February to October. This level loses only to China (181.8 points); Singapore (155.2 points) and Russia (152.5 points), in the period.

Source: Valor Investe

Development bank may take $880 mm from sale of Copel shares

BNDESPar, the Brazilian Development Bank’s equity investment arm, plans to sell its 24% stake in state-owned utility Copel during the first half of 2021. The sale may yield R$4.4 billion ($880 mm) to BNDES, based on Wednesday’s prices of the stocks. The bank owns 38.3 million common stocks (26% of the total) and 27.3 million preferred stocks (21.2%) in the company.

Source: Valor International

E-commerce in the State of São Paulo will grow 32% in 2020, says FecomercioSP

São Paulo’s e-commerce will end 2020 with a 32% growth in revenues compared to 2019, according to FecomercioSP’s projection. With the sales forecast for Christmas and adding to Black Friday purchases, in November, the sector’s sales will be R$ 29.2 billion ($5.8 bn), against R$ 22.1 billion ($4.4 bn) in 2019. The expressive results were achieved mainly by the demand for durable products.

Source: 6 Minutos

Minas Gerais breaks a record and exceeds 800 MW installed in distributed solar generation

The state of Minas Gerais continues to be the leader in solar generation distributed in Brazil, and has just surpassed the mark of 800 MW installed in roofs, facades and small plots of land for homes, businesses, industries, rural properties and public buildings in Minas Gerais. This is what reveals ABSOLAR’s recent mapping. According to the entity, Minas Gerais is responsible alone for 19.6% of the total installed capacity of distributed solar energy.

Source: Portal do Agronegocios

Petrobras signs $29 mm contract to supply gas to Furnas

Petrobras signed a R$ 148 million ($29 mm) contract to supply natural gas to the Santa Cruz thermoelectric plant, which belongs to Furnas. Under the agreement, Petrobras will supply 2.4 million M3 of gas per day to the plant installed in Rio de Janeiro. The contract follows the interruptible model. In this modality, only the supplier can interrupt the gas supply, within certain conditions previously agreed.

Source: Money Times