Votorantim and CPPIB will invest $36 mm in Brazil’s first hybrid park

VTRM, a joint venture between Votorantim Energia and CPP Investments, will invest R$189.98 million ($36 mm) in Brazil’s first hybrid park, located in Piauí. The initiative’s pilot project was approved by Aneel, when the agency also approved the second phase of the public hearing on the topic. A 68.7 MW solar plant will be installed inside the Ventos do Piauí I wind farm; the project aims to combine energy sources and take advantage of different hourly production profiles.

Source: Energia Hoje

CPFL invests $865k in robot that inspects UHEs tunnels

CPFL Energia, in partnership with Instituto Tecnológico de Aeronáutica (ITA) and Fundação Casimiro Montenegro Filho (FCMF), has developed an underwater robot to inspect hydropower tunnels. The project has investments of R$ 4.5 million ($865k) and aims to provide more security to the operations of checking the structural integrity of inaccessible sites, ensuring the proper functioning of the plants.

Source: Canal Energia

Ipea revises projection for official inflation from 4.6% to 5.3% in 2021

The Institute for Applied Economic Research (Ipea) has revised its forecast for IPCA (Amplified Consumer Price Index) inflation in 2021, increasing from 4.6% to 5.3%. The index is calculated by the IBGE (Brazilian Institute of Geography and Statistics) and used as a reference for the inflation target system pursued by the Central Bank.

Source: UOL Economia

First quarter balances show that economic recovery is real

The Brazilian economy is recovering from the strong impacts of the coronavirus pandemic, and the proof is the balance sheets released by companies in recent weeks. The conclusion is from Inter Research, the analysis arm of Banco Inter. The recovery was seen in various sectors, with emphasis on exporters of commodities, which continues to benefit from the resumption of global demand and, consequently, the rise in prices.

Source: Money Times

Omega plans to build 1 GW of renewables in 2021

The Omega group is betting on the growth of renewable energy sources and plans to build about 1 gigawatt in
plants this year, in an aggressive course of portfolio expansion since its IPO in 2017. The 10-year PPA (power purchase agreement) will cover 100% of Bayer’s consumption in Brazil, supplying power to eight units as of 2024. It is estimated that the agreement will help avoid the emission of 100,000 tonnes of CO2. The volumes of energy and values involved in the contract were not disclosed.

Source: Valor International

Startup investment in 2020 was $3.8 bn

From 2011 to now, the number of startups has grown by an average of 100% per year and reached the 13,500 companies, according to the Brazilian Startups Association (Abstartups). Last year, the sector received R$ 19.7 billion ($3.8 bn) in investments, according to data from Abstartups. With the drop in the Selic rate, investors had to seek new ways to remunerate their capital, and venture capital funds – which invest in startups – became an option.

Source: UOL Economia

Renewable energy certification registers first biogas plant in Brazil

I-REC Standard has registered its first biogas plant in Brazil, UTE Biogás Bonfim. The enterprise, located in Guariba, São Paulo, is one of the largest biogas plants in the world, with 21 MW of installed capacity. I-REC Service is a global energy environmental attributes tracking system designed to facilitate reliable carbon accounting.

Source: Portal do Agronegocio