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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.

Green bond moves $ 8.1 bn in Brazil

At a time when global demand for investments in “green causes” is increasing, Brazil has a total of 50 sustainable and green emissions in the securities market, totalling $8.1 bn. By issuing these papers, companies commit to investing in projects that generate positive environmental impact. The majority is linked to forest exploitation (38%) and renewable energy generation (24%).

Social impact stock exchange companies must have ESG certification

The social impact technology companies of [BVM]12, a developing stock exchange in partnership with Banco Maré, will have ESG certification. To certify the companies are correct, the new exchange aims to assess the social impact of these companies through digital research, using artificial intelligence and blockchain. All companies will have to meet the governance model to be on [BVM]12.

Gross value of Brazilian agriculture should be $148 bn

The Gross Value of Agricultural Production (GVP) in 2020 is expected to be R$771.4 ($148 bn), 10% higher than last year, according to the Ministry of Agriculture. Based on the sector’s performance in August, crops resulted in R$519 billion ($99 mm), equivalent to 67.3% of GVP, and livestock, at R$252.3 billion ($48 mm), or 32.7% of GVP.

Vale to close manganese ferro-alloys operation in Bahia

Mining company Vale said it will close the manganese ferro-alloys operation at the Vale Manganês plant in the city of Simões Filho (BA). The demobilization process is expected to be concluded by the end of the year. “Vale Manganese has tried all viable alternatives over the last ten years to keep the operation self-sustaining and competitive in the market,” the mining company said.

Atlantic Nickel to invest $335m to expand mine in Bahia

Atlantic Nickel, of the British private equity fund Appian, will invest $335 million from 2026 to install an underground sulphated nickel mine in Itagibá, in southern Bahia. The investment is expected to be made in the first five years of the project’s development, according to the Economic Recovery Plan (PAE), which will expand the operations of the Santa Rita Mine to 34 years.