A partnership between the National Confederation of Industry (CNI) and the Caixa made it viable to sign 35 contracts worth a total of R$ 7 million ($1.3 mm), with the support for micro and small entrepreneurs throughout the country. Among the benefits, the financing lines made it possible to reduce interest by up to 28% and a grace period of up to 60 months for payment.
Biosev said it is negotiating the sale of its operations to Raízen Energia. Raízen has 26 plants and Biosev controls eight units. If the acquisition occurred, Raízen would have 34 plants, including a mill equivalent to 15% of South Central sugarcane production in 2019/20. A debt restructuring would be on the table that would see a possible extension of payments of $1.4 bn in debt from Biosev.
The sale of decarbonisation credits (CBios) for fuel distributors in Brazil has seen a significant increase after the government published revised targets for 2020, the Sugarcane Industry Union (Unica) said. According to a statement, the amount of CBios on the stock market rose by 1.11 million in the first half of September, whilst negotiations for distributors reached a record 321,600 credits in the period.
A coalition of 230 representatives of agribusiness, NGOs and other sectors presented to President Bolsonaro and other federal authorities a package of six actions to be adopted to seek a rapid and permanent reduction of deforestation in Brazil, especially in the Legal Amazon. The document with the actions suggests that the reduction of deforestation in the short term – “in a few months” is of fundamental importance for the country.
Emerging countries have shown their first signs of expansion since the outbreak of the coronavirus, according to a growth indicator from the International Finance Institute (IIF). The IIF estimates that the recovery is mainly due to improved trade data. Also, purchasing manager indices (PMIs) suggest that the recovery of emerging economies will continue next month.
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).
The free market solar photovoltaic projects under the Special Regime of Incentives for Infrastructure Development (Reidi), from January 2018 to August 2020, have totalled over $3.49 billion in investments, according to a study by ePowerBay. In total, there are 120 projects with 5,082 MW of power.
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.
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.
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.