MG announces $4.5 bn investment plan for electric vehicle factory

The government of Minas Gerais announced on Friday that it has signed a protocol of intent with Bravo Motor for an electric vehicle and battery pack factory in the metropolitan region of Belo Horizonte, with an expected investment of R$ 25 billion ($4.5 bn). New phases of investment are planned for other regions of Minas, with production of lithium batteries, said the Minas Gerais government in a statement.

Source: Money Times

Renova Energia expects to resume work on wind farm after $64 mm loan

Renova Energia, a clean generation company that has Cemig as its main shareholder and is under judicial recovery, intends to resume next month the works of its most important asset, the Alto Sertão III-Phase A wind farm, paralysed for years. The construction of the project in Bahia will be possible due to funds from a loan of about R$ 362.5 million ($64.7 mm) from Quadra Gestão de Recursos pocketed by Renova.

Source: 6 minutos

Rural credit rises 18% over previous crop year

Brazilian rural producers are borrowing more money. According to the Balance of Agriculture and Livestock Financing for the 2020/2021 crop year, released by the Ministry of Agriculture, Livestock and Supply, rural credit contracts totalled R$ 147.57 billion ($26.4 bn) between July 2020 and February 2021. This represents a growth of 18% in relation to what was borrowed in the same period of the previous harvest.

Source: Money Times

CPFL invests $3.5 mm and aims to electrify its fleet by 2022

CPFL Energia announced that it is investing R$ 20 million ($3.5 mm) to create the Electric Mobility Laboratory in Indaiatuba (SP) and that it plans to exchange its entire operational fleet for electric vehicles by 2022. The project started last year and counts on the partnership of Siemens, which will develop the chargers, and Volkswagen, which will enter with two electric trucks, with bodies and overhead bins manufactured by Senai Cimatec.

Source: Canal Energia

Group of farmers raises $11.4 mm through green certificates

A group of seven grain producers from the Central-West region raised last week R$63.6 million ($11.4 mm) by issuing agribusiness receivables certificates (CRAs) with the commitment of not deforesting, even legally, and of recovering forests in permanent preservation areas, in addition to productive commitments. The properties involved, in Mato Grosso and Mato Grosso do Sul, cover 78,452 hectares and produce soy, corn and cotton.

Source: Valor International