Category: Business

Information regarding the business sector

Government extends credit to SMEs with $2.2 billion funding

The federal government has extended for three months the term of credit operations under the National Support Program for Microenterprises and Small Businesses (Pronampe). The extension is formalised in an ordinance and received an additional contribution of R$ 12 billion in the Operations Guarantee Fund (FGO) for the granting of guarantees under Pronampe.

Fitch downgrade Gol rating to ‘CCC-‘

The agency Fitch Ratings downgraded Gol’s long-term foreign and local currency rating from B- to CCC-, and also downgraded Gol’s long-term nationwide rating from BB(bra) to CCC(bra). The decision reflects the effects of the drop in demand for travel in Brazil, high uncertainty regarding the recovery of the sector and limited financial flexibility of the company.

Social bonds already equalize green bonds, says Moody’s

Moody’s Investors Service has raised its estimate for the sale of bonds to finance projects with positive social results by 50% this year. The agency now expects the emission of social and sustainability bonds worldwide to reach $150 billion this year, compared to an initial projection of $100 billion in May, according to a report by Moody’s analysts.

Renewable projects receive environmental licenses in RS

The Rio Grande do Sul State Environmental Protection Foundation (Fepam) has issued an operating license (LO) for a SHP and a preliminary license (LP) for a solar power plant. The projects total 27.36 MW and R$ 158 million in investments. The documentation delivered to the company Quevedos Energéticas S.A. from Santa Catarina.

Petrobras begins phase for sale of 578 MW in thermal power plants

Petrobras began the binding phase regarding the sale of four thermoelectric plants. The Arembepe, Bahia 1, and Muricy plants have a total installed capacity of 329 MW. The plants operate with oil and have the possibility of conversion to natural gas. The Rio Grande do Sul power plant of Canoas, on the other hand, has an installed capacity of 249 MW and is bi-fuel, using natural gas and oil for generation.

Cbios emission should accelerate in the second semester

The definition of the tax regime for decarbonisation credits (Cbios), with the overthrow on August 12th of the presidential vetoes to the section of the Agro MP that rate the bond at 15%, will help accelerate the emissions and the commercialisation of the Cbios in the second semester. In total, 252,400 Cbios have been traded so far by all brokers, at an average price of R$ 20 ($4).

Brazil can generate $509 bn with green economy

The economic recovery movement can generate 2 million jobs and add R$ 2.8 trillion ($509 bn) to Brazil’s GDP, in addition to helping the country become more resilient to climate change if investments are directed towards a greener economy. This represent a growth of 38% in relation to the 2019 GDP. This is the reality that reveals the study developed by WRI Brazil, UFRJ and World Bank.

Brazil’s coffee export recorded second largest in history

Brazil’s coffee exports in July fell back in comparison with the same month last year, recording the second highest volume for the period in history. Between January and July total exports of coffee reached 22.9 million bags, also the second highest volume for the period in history, said the entity. Exports of green coffee in the period totalled 20.566 million bags.

BYD launches $1.2 mm photovoltaic plant in Campinas

BYD inaugurated in Campinas (SP) its first photovoltaic plant exclusively focused on research and development (R&D) in Brazil. With an investment of R$ 7 million ($1.2 mm) in equipment, the unit was built within the 4.0 industry concept. According to the company, the solar farm has a complete weather station and will have a capacity of 500 kW, which will be generated from a wide range of technologies in photovoltaic modules