Copom keeps basic economic interest rate at 2% at first meeting 2021

At its first meeting in 2021, the Central Bank’s Monetary Policy Committee (Copom) decided to maintain the basic interest rate at 2 percent per annum, the historic low. The decision was unanimous. It is the third consecutive meeting in Copom to maintain the rate at 2%. In the statement, the Central Bank said that with regard to the inflation scenario, there are risks for both directions.

Source: G1

Wind generation reaches capacity level of 45.77% in December

Wind power generation in the country showed a capacity index of 45.77% in December with an average production of 7,343.98 MW. The data is from the National Electric System Operator, which published the wind generation bulletin for the last month of 2020. The installed capacity in the country of the wind source in SIN closed at 16,979.04 MW, including those without relations with ONS. The operator said that another 1,747.66 MW were incorporated into the SIN, most of it, or 756.17 MW in Rio Grande do Norte.

Source: Canal Energia

Mercado Livre closes $1 bn issue to invest in credit and logistics

The online retailer Mercado Libre closed this month two debt issues totalling $1.1 bn, and part of the funds ($400 mm) will be invested in projects in areas such as credit and sustainability, especially in Brazil and Mexico. Another portion will refinance existing debt. Moody’s classified the operation as “Ba1,” in the speculative grade range.

Source: Valor Investe

Cemig can earn $258 mm from the sale of Light shares

Cemig approved the fixing of the price per share of Light at R$ 20.00 ($3.77), to carry out the sale of its entire stake in the distributor Fluminense. The company may raise R$1.37 billion ($258 mm) with the operation. Cemig currently holds a 22.58% stake in Light. With the primary offering, Light’s capital stock will increase by R$ 1.37 billion ($258 mm) to R$ 5.47 billion ($1.03 bn).

Source: Energia Hoje

IDB and BNDES invest $28 mn to reduce PPP “mortality” in Brazil

The IDB and BNDES have announced a R$150 million ($28 million) plan to try to speed up approval and improve the quality of Public-Private Partnership (PPP) projects in the country. According to IDB data, of the 1,084 PPPs in the country that have started since 2014, 811 had not been completed by September 2018. And the so-called mortality rate, i.e., of projects that simply do not succeed, was 86% in the last five years.

Source: 6 Minutos

Solar photovoltaic generation advanced by 26.4% in the third quarter of 2020

According to CCEE surveys, the third quarter was marked by a 26.4% rise in solar photovoltaic plant production. Considering all sources, the annual increase in this period was approximately 2%. Although the thermoelectric industries, marking a reduction of 36.2%, other segments of the renewable industries experienced growth: wind power plants advanced 10% and hydroelectric plants generated 14.7% more than last year.

Source: Portal Solar

São Martinho Group obtains $177 mm from BNDES for investments in plants

The São Martinho Group has been approved by BNDES to provide funding of R$ 941.6 million ($177 mm) to finance the company’s investments in power plants in São Paulo and Goiás, the state bank said in a statement Tuesday. The funds will be used to build a new corn ethanol plant at the Boa Vista plant (GO) and grain storage silos, as well as to implement a thermoelectric plant and modernise existing units.

Source: UOL Economia