Crude steel production grows 10.8% and reaches 3 million tons

The production of crude steel in Brazil reached 3.004 million tons in January, up 10.8% compared to the same period last year. The production of rolled products reached 2.167 million tons in January, up 6.6% in the period, and the production of semi-finished for sales was 621 thousand tons, an increase of 2.6% compared to the same month of 2020. The data was released by the Brazil Steel Institute.

Source: UOL Economia

Brazil reaches the mark of 500,000 consumer units of distributed photovoltaic generation

The Brazilian territory has reached the mark of 500 thousand photovoltaic distributed generation (PVDG) consumer units. According to the Brazilian Photovoltaic Solar Energy Association (ABSOLAR), adding the wind, thermal, hydraulic and solar sources, the country has more than 511 thousand UCs. The entity states that, totalling R$ 23.1 billion ($4.18 bn), there are 400 thousand distributed solar generation systems that serve 500 thousand consumers.

Source: Portal Solar

Petrobras to lose $18.5 bn in market value with intervention

Investors have begun to unload shares of Petrobras. The accumulated losses total R$60 billion ($11 bn) and are expected to reach R$100 billion ($18.5 bn) due to what they call government intervention in the company. The figures take into account the devaluation of shares on the B3 and foreign stock exchanges where the company’s ADRs are traded. On Friday 19th alone, Petrobras registered R$28.2 billion ($5.1 bn) in market value reduction in Brazil.

Source: Folha

Energias do Brasil: profit rises 40.2% in the fourth quarter of 2020

Energias do Brasil, controlled by the Portuguese EDP, recorded net profit 40.2% higher in the fourth quarter of 2020 compared to the same period of 2019, shows document sent to the market last Friday. The company calculated a profit of R$ 700 million ($129 mm) in the period. Accumulated in the year, the company saw its financial result rise 12.7%, adding R$ 1.5 billion ($277 mm).

Source: Money Times

Enel starts operating 133 MW expansion of São Gonçalo solar park

Enel Green Power announced the start of commercial operation of the 133 MW expansion of the São Gonçalo solar photovoltaic park (475 MW), which was already in operation since January 2020. The venture is considered the largest photovoltaic installation in South America and is located in the municipality of São Gonçalo. The Company invested R$ 422 million ($78 mm) in the construction of the second part of the undertaking.

Source: Energia Hoje

Big banks’ profits have the biggest drop in 21 years

The four big banks in the country had a combined profit of R$61.6 billion ($11.4 bn) in 2020, a drop of 24.4% compared to the previous year. The reduction in earnings is the biggest since 2000. The banks were coming from their best aggregate result in the entire historical series, measured since the introduction of the real in 1994. In 2019, the combined profit was R$81.5 billion ($15 bn)in nominal values. With monetary correction, the figure rises to R$85.1 billion ($15.8 bn) and extends the 2020 drop to 26.6%.

Source: G1 Economia

Itaipu to invest $186 mn to revitalize Furnas transmission

The Furnas transmission system in Foz do Iguaçu (PR) will receive an investment of around R$ 1 billion ($186 mn) from Itaipu. The resources were announced in an operation to revitalize these assets that will last five years. The works will take place in the high voltage direct current system responsible for transmitting to the Brazilian market the energy that Paraguay does not consume.

Source: Canal Energia