Brazilian Economy Minister Paulo Guedes said on Wednesday that state-run oil company Petrobras should be privatized before it becomes irrelevant and oil loses value, suggesting the government could use the sale proceeds to reduce poverty. Citing the ongoing processes to privatize state-run power company Eletrobras and postal-service firm Correios, Guedes said the same rationale for a possible sale extended to Petrobras. "Correios should be sold quickly as it risks becoming irrelevant in two or three years. The same applies to Petrobras," Guedes said in an event hosted by the Economy Ministry, noting that the world is heading towards a more sustainable, green economy. "We must privatize Correios, Eletrobras and keep in mind that (the rationale) also applies to Petrobras, to our whole portfolio."

Dec 01, 2021 - IEA

In response to high costs, Brazil’s mines and energy ministry reduced its biodiesel blending mandate to 10% from 13% for July and August. It then increased the mandate to 12%, but is considering reducing it again to 10%. High costs are also part of the reason for reduced sales of hydrous ethanol in Brazil, as consumers have switched from buying ethanol to gasoline. In the case of sugar, used to produce ethanol, high costs are in part driven by a poor harvest in Brazil; sugar production in 2021 is down by 7% compared to 2020.

Dec 01, 2021 - PV Magazine

In October, Brazil imported 1,049 MW of photovoltaic modules, reaching a total of 7.5 GW for imported panels in the first ten months of 2021, according to a recent report by Brazilian consultancy Greener. The month represented a recovery in the pace of imports, which have been below 700 MW since June. By way of comparison, solar module imports in Brazil had totaled 4.7 GW in the first ten months of 2020. Module prices have increased, so far this year, by more than 18%, and reached between $0.21/Wp and $0.26/Wp. The biggest growth was observed in the importation of monocrystalline models, which suffered an increase of 26% in free-on-board (FOB) prices.

Dec 01, 2021 - Market Screener

GE Renewable Energy's Grid Solutions business recently commissioned the first digital substation in the public power grid connected to the Brazil's National Interconnected System (SIN). Owned by ISA CTEEP - Brazil's largest private transmission company - the Lorena substation (São Paulo, Brazil), has a 1,200 MVA installed capacity and will benefit the entire Vale do Paraiba region, recognized as São Paulo's main center of technology. It will be able to fulfill the energy demands equivalent to the consumption of two cities the same size as São Jose dos Campos (Sao Paulo, Brazil).

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