Tag Archives: webinar

How Covid-19 impacts the Brazilian economy | Instant News


Every day we are bombarded with news related to the Covid-19 pandemic, its impact on health, the economy and the world at large. This is very important, because reliable information is the best weapon to combat Covid-19, related to public health and the global economy.

It makes no difference in Brazil. More than 2 million people tested positive for Covid-19, with 80,000 deaths. This will have a profound effect on us socially and economically.

Market forecasts, in periodic bulletins from the Central Bank of Brazil, are less pessimistic than some distributed by international agents. Earlier this month, the International Monetary Fund projected a decline in Brazil’s economic activity by 9.1 percent this year, while the World Bank projected an 8 percent withdrawal. The Central Bank of Brazil, however, sees a 6.4 percent withdrawal in the economy this year.

In any case, a significant decline in economic activity affects the country in a year where a stronger economic recovery is expected. In early 2020, when the new coronavirus pandemic was concentrated in China and it was unclear when and how it would arrive in Brazil, experts estimate annual economic growth of around 2.3 percent.

Market and domestic policies

In an effort to curb sales momentum and at the same time give investors time to understand what has happened in the past few months, circuit breakers on the Brazilian stock exchange have resurfaced, and have also been practiced on other stock exchanges around the world. But Ibovespa had the best second quarter since 1997 and accumulated an increase of around 50 percent, supported by global liquidity that was expanded by measures to combat the economic impact of Covid-19, in addition to lowering base interest rates to historic lows.

Basic Sanitation Law, recently approved by the Brazilian parliament, created new regulatory references with the aim of universalizing water supply and sanitation services, and modernizing the most backward sectors of national infrastructure. This allows a large increase in investment in the collection and treatment of wastewater and water supply networks, with the potential to generate more than 1 million jobs in this sector alone.

To minimize the impact of the pandemic, the federal government has approved R $ 90 billion ($ 17.5 billion) in emergency assistance for around 64.1 million Brazilian recipients. In addition, the Brazilian Central Bank estimates that it will issue up to $ 55 billion in credit to small companies.

The strong tendency towards concessions and public-private partnerships also tends to heat up the Brazilian economy, attract resources and produce jobs. In the Northeast region of the country, the transposition of São Francisco river waters to arid regions, as well as the seawater desalination and artesian well drilling projects, are examples of this effort.

Foreign trade

Despite the Covid-19 pandemic, Brazil continues to record a positive trade balance. In June the surplus was $ 7.46 billion, according to data from the federal government. That’s the best trade balance for June since records began in 1989. This is largely due to agriculture, which grew 23.8 percent this year, compared to the same period last year.

In another initiative to combat the challenges posed by the Covid-19 pandemic, the Brazilian government, through the Securities and Exchange Commission (CVM), issued a series of initiatives aimed at holding a shareholder meeting. The published rules are another indication of the efforts of CVM and market participants have jointly undertaken to make capital market events continue to occur.

Greater optimism

Greater optimism has led some analysts to revise their Ibovespa projections to the top. Goldman Sachs, Bank of America and XP Investimentos all outlined new scenarios, more positive for Brazil’s main stock index in 2020, including considering important phenomena from retail investors in Brazil. Since the beginning of the year, there have been records of the number of individuals entering B3, which has helped reduce the impact of foreign investor outflows.

Market agents oversee risks to emerging economies, especially the Brazilian economy, amid a very challenging scenario caused by a coronavirus pandemic. However, with excess liquidity in the world and a sharp decline in Ibovespa, investors have found a reason to evaluate the national stock market with a better eye.

André Vasconcellos is director of the Brazilian Institute of Investor Relations (IBRI) and leads investor relations at Electrobras

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New momentum for the development of geothermal energy in Switzerland Think about GeoEnergy | Instant News



Flag thrower, Switzerland (source: flckr / Jessica Gardner, creative commons)

Geothermal energy sees more and more interest in the context of energy transition in Switzerland, but faces several challenges. There is little research on potential resources and there is some strong opposition to development. Such an opportunity especially for the heat is there.

There is hope that the 2050 Swiss energy strategy will provide energy momentum for geothermal development. Although there is much that is not known that remains about the lower surface of Switzerland.

In Switzerland, efforts are being made to “accelerate the expansion of geothermal energy”, said Nathalie Andenmatten, President of the Swiss Geothermal Energy Association, in a webinar “Blickpunkt Geothermie“By the Enerchange agency on May 15, 2020.

With the implementation of the politically desirable energy strategy of 2050, various revised regulations came into force in 2018. One of them was the amendment to the CO2 Act, which also benefited the heating project in Switzerland since 2018. For geothermal heating projects, up to CHF 30 million (equivalent to CHF EUR 28.5 million or USD 31.1 million) provided from CO2 levies for reservoir exploration and development. The federal government can cover up to 60% of eligible costs.

According to Andenmatten, the change in law with the energy strategy in 2018 has now triggered a new “dynamics” in Switzerland. However, there are still obstacles that need to be removed. The pilot project in the canton of Geneva, which he presented, must contribute to this.

As in many parts of Germany, one problem in Switzerland is population acceptance, which President Andenmatten described as “difficult” in webinars – especially with deep geothermal projects. The earth trembled a few years ago when drilling trials in Basel and St. Gallen, for example, and projects were canceled. Skepticism is often left behind. In addition, apart from funding, the risk of financial failure is high and there is a lack of knowledge among workers in Switzerland. However, one of the biggest obstacles to the development of this technology is that deep underground surface knowledge is not enough.

Little research has not been done on the geothermal potential in Switzerland

This is where the pilot project “GEothermie” in the canton of Geneva comes in, which Andenmatten presented on the webinar. According to Andenmatten, the geological conditions in the canton are promising and are being studied in detail. The first exploration well at Satigny in 2018 was successful, producing warm water 33 degrees Celsius at a depth of 420 to 744 meters with a flow rate of more than 50 liters per second. The second test well is running. In addition, 2D and 3D measurements are planned.

Geneva currently supplies more than 90% of its energy needs from outside Canton, and its fossil portion is around 75%. To reduce these values, Geneva relies, inter alia, on local geothermal energy resources: by 2035, 20% of the heating energy in the canton of Geneva will be generated by geothermal energy.

Several research projects – including hydroelectric and geo-energy power projects – have shown that there are good conditions in Switzerland for the use of geothermal energy, both for building stock and for industrial processes. However, there is no holistic approach in Switzerland, which is very much needed. Both the possibility of using heat, for electricity production and as a storage medium, as well as underground conditions, along with all aspects of energy supply and greenhouse gas emissions, must be handled holistically and taking into account diverse interdependencies. . This is the only way to find the optimal solution.

Without population consent, the potential for deep geothermal energy cannot be exploited. To achieve the broad acceptance needed, the population must be involved in the appropriate project at an early stage and be given comprehensive information. Here too, the pilot project in Geneva is trying to continue. Andenmatten therefore sees important steps in Geneva and in other pilot projects to get a new impetus into the Swiss geothermal industry. The aim is to replace oil and gas with renewable energy by 2050.

Geothermal energy in Switzerland

The share of geothermal energy in renewable heat supply in Switzerland rose from 15.5% in 2000 to almost 30%. The total heating capacity of all geothermal power plants in Switzerland is around 2,197 MW in 2018. As a rule, geothermal probes, groundwater wells and warm tunnel water are used in connection with heat pumps for heating and in some cases also for cooling purposes. With direct use of geothermal without heat pumps, a total of 201,000 MWh was produced in 2018, which is equivalent to 5.4% of the heating energy produced. However, at present only heat is generated in Switzerland, there is no electricity from geothermal sources.

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Source: Energy & Management

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