Tag Archives: Renewable Energy (TRBC level 3)

Brazilian waste processor Orizan completed a $ 103 million IPO | Instant News


SAO PAULO, February 11 (Reuters) – Brazil’s Orizan Valorizacao de Residuos SA, which converts waste to biofuel, has completed an initial public offering worth 554 million reais ($ 103.23 million), according to a securities filing on Thursday.

Orizan sets its offering price at 22 reais per share, compared to an indicative range of 20 reais to 27 reais per share.

The company earned 381.4 million reais, while shareholders sold 172.6 million reais in shares. ($ 1 = 5,3665 reais) (Reporting by Aluisio Alves; Editing by Sam Holmes)

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Brazilian sugar producer Jalles Machado IPO prices below the target range | Instant News


SAO PAULO, February 4 (Reuters) – Brazilian sugar and ethanol producer Jalles Machado SA set its initial public offering price in Sao Paulo at 8.30 reais per share, well below the target range of 10.35 reais to 12.95 reais, according to data released by Brazilian securities. regulators on Thursday.

The IPO raised 741.5 million reais ($ 137 million), according to the data.

In his preliminary prospectus, Jalles said it plans to use the proceeds from the IPO to increase sugarcane production at its two factories in the central western Brazilian state of Goias and to purchase a third factory.

$ 1 = 5.43 reais Reported by Aluísio Alves; Written by Gram Slattery; Edited by Karishma Singh

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Italy’s A2A spends 16 billion euros in green drives | Instant News


MILANO (Reuters) – Italy’s largest regional utility company, A2A, will spend 16 billion euros ($ 19.45 billion) between now and 2030 to reduce its carbon footprint and grow its waste and water business.

Under its new 10-year plan, the Milan-based utility said it aims to cut its carbon emissions by 47% from 2017 levels and to double its renewable capacity to 5.7 gigawatts through more than 4 billion euros of investment and acquisitions.

The group, which has about 970 megawatts of coal capacity, said it aims to phase out coal-fired power plants by 2022, ahead of the national target set for 2025.

It will spend 6 billion euros on waste management and water businesses and aims to become a significant European player.

“This is a solid foundation that will allow us to create a strategic infrastructure, innovative and essential for the country’s growth and relaunch, to be ambitious and looking to Europe,” said A2A CEO Renato Mazzoncini.

At 1005 GMT A2A the share was up more than 4%.

Utilities across Europe are investing in renewable energy and grids as governments seek to power economies to meet climate targets.

A2A, which is controlled by the cities of Milan and Brescia, said it would double its core revenue to 2.5 billion euros by the end of the plan from 1.18 billion euros expected for 2020. Net income will grow by more than 8% annually.

The growing margins will allow it to increase its dividend for 2020 to at least 8 euro cents and at least 8.2 euro cents for 2021, he said.

The utility company, which plans to create 6,000 new jobs during the plan period, said that after 2022, dividends will grow at least 3% per year.

“… the targets for the next 3 years are quite in line with consensus, while the company expects a very aggressive growth assumption beyond … There is a tremendous increase in the projected total capital spending,” Mediobanca Securities said.

Reporting by Giancarlo Navach, written by Stephen Jewkes, editing by Giulia Segreti and Barbara Lewis

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Brazilian ethanol company Cosan eyes reorganization, ADS lists | Instant News


SAO PAULO, December 17 (Reuters) – Brazilian sugar and ethanol company Cosan SA plans to reorganize and list America’s Storage Shares, or ADS, for the first time, in a move the company believes will increase stock liquidity, the company said on Thursday.

Under the planned reorganization, Cosan Limited, or CZZ, the company’s financial agency, as well as the logistics arm of Cosan Logistica SA, which is also a subsidiary of CZZ, will be fully incorporated into Cosan.

Cosan Logistica, through its own subsidiary Rumo SA, is active in the railroad sector, particularly grain transportation.

By concentrating the free float of the various related companies into a single share, and listing the shares in New York via the ADS, the company expects Cosan’s shares to trade more shares, he said in a statement.

Cosan hopes the move, which will require approval from shareholders in the listed companies involved, will also help raise money through future follow-up offers and a possible initial public offering. (Reporting by Roberto Samora; Written by Gram Slattery; editing by Grant McCool)

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Petrobras prioritizes reducing carbon as Equinor pursues renewable energy in Brazil | Instant News


FILE PHOTO: A man walks in front of the Petroleo Brasileiro SA (Petrobas) headquarters in Rio de Janeiro, Brazil March 9, 2020. REUTERS / Sergio Moraes

RIO DE JANEIRO (Reuters) – Petrobras will invest in technology to reduce its carbon footprint from oil extraction activities rather than renewable energy over the next five years, said the chief executive of the Brazilian state-controlled company.

Roberto Castello Branco has repeatedly said Petroleo Brasileiro SA, known as Petrobras, does not have a comparative advantage in renewable energy and that many of the environmental targets put forward by European competitors are fantastic.

His comments on Tuesday contrasted with those made earlier by Equinor ASA CEO Anders Opedal at an oil industry conference where he said Norwegian companies were looking for offshore wind opportunities in Brazil.

Opedal referred during the Rio Oil & Gas conference to a 2018 memorandum of understanding (MOU) between Equinor and Petrobras to pursue an offshore wind power project in Brazil.

It has yielded no potential projects so far and Castello Branco’s comments suggest it is unlikely.

“We don’t expect to invest a dollar in renewable energy over the next five years,” said Castello Branco while discussing the company’s updated five-year business plan during a presentation to analysts and investors.

Petrobras takes emissions reduction seriously through other means, such as studying the use of hydrogen-powered ships, even for long-haul routes, Petrobras head of logistics and sales André Chiarini said in another presentation.

Castello Branco said that Petrobras is likely to sell offshore natural gas pipeline couplings via an initial public offering in the third quarter of 2021.

But these estimates are subject to change, in part because a potential IPO requires agreement with other stakeholders.

Reporting by Gram Slattery; Edited by Chizu Nomiyama, Paul Simao and Alexander Smith

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