The U.S. export and import bank approved a $97.2 million working capital loan guarantee for Embraer’s executive jet unit in the country. Embraer is struggling to create a new future since Boeing cancelled its $4.2 billion acquisition of the Brazilian manufacturer’s commercial aircraft arm in April.
The approval of the new legal framework for gas will modernize the regulation of the sector and may unlock R$ 60 billion ($ 12bn) in estimated investments in this area. The assessment was made by Moody’s when the House of Representatives signals to resume the assessment of the matter in the next few days, after approving, by 323 votes, the urgency for the processing of what is called the Gas Law.
The National Electrical Energy Agency (Aneel) granted Rio Alto Energia a 35-year concession for the implementation and operation of five photovoltaic plants under the regime of independent production of electricity, totalling 135 MW of installed capacity in the municipality of Coremas, in the countryside of Paraiba.
Eletrobras’ Board of Directors approved the binding offers made by Omega Generation of approximately R$1.5 billion ($ 300 mm) for acquisition in wind farms in Rio Grande do Sul. According to a statement by Omega, the proposal for 78% of the state-owned company’s share of the Santa Vitória do Palmar Complex, with 402 MW, was about R$ 1 billion ($200 mm), and cash payment of R$ 434.5 million ($ 86mm).
Petrobras announced a reduction in its quarterly losses in the second quarter and pointed to “signs of recovery” from the global economic crisis caused by the coronavirus pandemic. The company based in Rio de Janeiro registered a net loss of R$ 2.7 billion ($540 mm) in the April-June period, lower than the R$ 48.5 billion ($9.6bn) of the first quarter of 2020.
While the Industry, Services and especially Trade sectors continue to suffer considerable losses, Agribusiness stands out as the only growing segment – around 6.9% – in the same period, with a total of 703,200 companies installed in the country. The survey also points out that this increase in the business profile in agribusiness is due to the Southeast regions, with an increase of 9% and the creation of 52,354 new companies in the business.
The wind power plant Ventos de São Januário 22 received authorisation from the National Electrical Energy Agency (Aneel) to start operation in test of turbine five, with 4.2 MW of power. The plant is operated by Ventos De Santo Eloy Energias Renováveis, in the municipality of Campo Formoso, state of Bahia.
Cargo handling at public ports grew by 6.6% in the first half of the year. 168.8 million tons were transported. The data from the Ministry of Infrastructure reflects the activities of eight port authorities that concentrate about 80% of leasing contracts in national ports. The highest growth was recorded at Companhia Docas do Pará, up 26.5%, followed by the Port of Suape (16.7%).
The opening of new companies fell 25.7% in April compared to the same month in 2019, according to a survey by Serasa Experian. There were 194,800 companies opened in the month, with 84.7% in the category of individual micro-entrepreneur (MEI). Most of the new companies are in the service sector (68.9%) and are in the Southeast Region (51.1%).
Storebrand Asset Management, gathered 34 funds, with more than $4.6 trillion in assets, to convince the Brazilian government to reverse policies that destroy the Amazon. Storebrand, which dedicated its entire $90 billion portfolio to environmental, social and governance (ESG) investments, says it now has a “clear commitment” from the Brazilian government that it will respond to their demands.