IDB announces $20 mm for Amazon development fund

The president of the Inter-American Development Bank (IDB), Mauricio Claver-Carone, announced that the agency will allocate $20 million in seed capital to a fund for the sustainable development of the Amazon, during the institution’s annual meeting in Colombia. President Jair Bolsonaro, present by video conference, applauded the IDB’s decision and called for “effectiveness” in its execution.

Source: UOL Economia

Brazil leads wind energy growth in Latin America in 2020

Wind power grew by 62% in Latin America and North America in 2020 compared to 2019. Capacity grew by 22 gigawatts (GW) to 168 GW. The country leading the rise is the US, with around 17 GW more between 2019 and last year, which represents an 85% rise in output. Already when we look only at Latin America we see Brazil in first place, with a rise of 2.3 GW in production.

Source: Money Times

Cerrado conservation projects may receive up to $30,000

Associations and cooperatives operating in the Cerrado region may receive up to $ 30K (about R$ 160,000) to develop projects to strengthen governance and minimize the negative impacts of the covid-19 pandemic in these territories. Entities that fit into the concept of Territories and Areas Conserved by Indigenous and Local Communities (TICCA) are eligible for the program.

Source: Agencia Brasil

Plastic recycling rate in the country grew by 8.5%

The post-consumer plastics recycling rate in the country stood at 24% in 2019, an increase of 8.5% compared to the previous year. Post-consumer plastics are the plastic material discarded in residential homes and in places such as shopping malls, commercial establishments and offices. According to the study, in 2019, the last year with consolidated data, 838,000 tonnes of recycled plastics were produced.

Source: Money Times

Aneel estimates impact of $245 mm with reduction in flow of Belo Monte

In a letter sent to the Brazilian Institute of Environment and Renewable Natural Resources, the National Electrical Energy Agency states that the change in the flow of the Belo Monte dam will have an impact of around R$1.3 billion ($245 mm) for consumers in January and February 2021. The cost increase, according to Aneel, is a consequence of activating more thermoelectric generation to compensate for the plant’s decrease in production.

Source: Canal Energia

AGU charges more than $520 mm from Amazonian deforesters

In recent months, the Amazon Advocacy Task Force (AGU) has filed 114 public civil actions to charge more than R$2.6 billion ($520 mm) in environmental violations. The lawsuits reached approximately 230 accused of the devastation of 135,000 hectares of Legal Amazonia. Justice has ordered the blocking of more than R$776 million ($155 mm) in assets and values of large deforesters.

Source: Veja

Sale of energy distributors is on the radar of privatisation for 2021

Privatisation in the electricity sector is on the radar of government and investors in 2021, a year of little influence from electoral disputes affecting the calendar. In a scenario of low interest rates, the focus is on the advancement of the privatisation process of Eletrobras, the sale of the distribution and generation and transmission units (GT) of the state-owned CEEE, the amapaense distributor CEA, and possible advances in the privatisation of Cemig.

Source: UOL Economia