Infrastructure News
March 22nd | Press Release
Fred P. Hochberg, the Chairman & President of the Export-Import Bank of the United States (Ex-Im Bank), announced in Brazil over the weekend that the Ex-Im Bank has authorized $1 billion in export credit for infrastructure projects for the State of Rio de Janiero. Hochberg was traveling in Brazil with President Obama when he made the announcement.
"Brazil is an emerging economy with extensive infrastructure needs, and this authorization will provide further opportunities for American exporters and small business owners," said Ex-Im Bank Chairman and President Fred P. Hochberg. "American business is second to none, and it is important that we encourage our businesses to compete globally."
Through Ex-Im Bank, the State of Rio de Janiero will have access to $1 billion in financing for buying goods and services from U.S. exporters. Rio State will use these goods and services for various infrastructure projects, including those associated with Flood Relief, the World Cup, and the Olympics. Brazil is expected to spend $200 billion in additional infrastructure across the country.
Ex-Im Bank, an independent, self-sustaining federal agency, helps create and maintain American jobs by filling gaps in export financing and strengthening U.S. export competitiveness.
During the first four months of Fiscal Year 2011 (Oct. 2010 through Jan. 2011), Ex-Im Bank approved $8.25 billion in total financing authorizations, supporting $10.3 billion in U.S. exports and approximately 75,000 American jobs. It also supported American jobs through foreign sales as the U.S. economy continues to recover. For more information on Ex-Im Bank, visit
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March 24th | Business News Americas
Brazil's power distribution sector will see investments in smart grid implementation of more than US$20bn, Nelson Fonseca Leite, president of the Brazilian power distributors association (Abradee), told BNamericas.
"The country has 56mn power consumer units in the residential segment. We will come to a point when all will be connected via smart grids. For the installation of such intelligent devices, companies will invest at least US$20bn on the operation," he said.
In January, Brazilian telecoms research and development firm CPqD said it will guide the IT and telecom elements of a strategy for changing the country's power sector to a smart grid.
Abradee and telecoms infrastructure group Aptel are responsible for the smart grid plan. CPqD is expected to take six months to prepare the report.
"All the major utilities in Brazil are already studying smart grid solutions. Authorities are also debating a new framework," Leite added.
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March 18th | Press Release Moving forward to connect the Westside to the county’s existing rail network, the Expo Construction Authority Board of Directors approved two major milestones today. The Funding Agreement and Design-Build contract approved by the Board clear the way for design and construction to begin on Phase 2 of the project, which extends the nearly complete light-rail line between downtown Los Angeles and Culver City to its terminus in Santa Monica.
The $1.5 billion Phase 2 Funding Agreement between the Los Angeles County Metropolitan Transportation Authority (LACMTA) and the Exposition Construction Authority (Expo Authority) provides the guidelines by which Metro will fund the project through Measure R half-cent sales tax revenue as well as state and local funds. The $541.7 million design-build contract was awarded to Skanska/Rados to design and build Phase 2 of the Expo Line. The Board of Directors approved incorporation of a Project Labor Agreement into the contract, which includes local hiring provisions and will help ensure that the project will be delivered on time and on budget. With this contract in place, the Expo Authority will kick off the design build process with a series of community meetings along the project corridor in early May.
The Board also gave direction to carry forward previously cleared design options for a grade separation and aerial station at Expo/Sepulveda and the no parking option at the Expo/Westwood station. The Los Angeles City Council approved a motion today which commits to funding the estimated $5.3 million cost differential to add the Sepulveda grade separation and aerial station to the project
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March 23rd | Greentech Media
Suniva is a fast-growing solar startup often held up as an example of American innovation, an illustration of how venture capital can be well deployed, and vindication of the Administration's stimulus program.
Last week, Scott Stephens of the DOE's Loan Guarantee Office told me that Suniva was "suspending" its efforts to close on a loan guarantee because of the company's displeasure with the DOE's terms and conditions. (Stephens was a panelist at Greentech Media's Solar Summit in Palm Springs.)
Suniva uses a number of different cell structures and processes in use to build a high-efficiency crystalline silicon solar cell. The firm has long had plans to build a factory in Michigan, and in an interview with Greentech Media last month, Suniva’s CMO, Bryan Ashley said that Suniva was "not planning to leave the U.S." But the refusal to accept the DOE loan guarantee might impact the location of the heralded startup's factory, as much of the construction was contingent on receiving the $141 million loan.
Venture Wire reported today that Suniva had "put on hold its plans to build a new solar cell factory in Michigan." The blog was reprinted in the Wall Street Journal. Tom Cheyney broke the loan guarantee story last month in PVTech.
This is an abrupt about-face from Suniva, which had ruffled some DOE feathers by jumping the gun in prematurely announcing the finalization of the DOE loan a few months ago. The DOE loan program is under fire by Fred Upton (R-Michigan), House Energy and Commerce Committee Chairman, who has initiated an investigation into possible misuse of stimulus funds. That would include the $535 million stimulus loan guarantee for Solyndra of Fremont, California.
Suniva is venture funded by Advanced Equities, Goldman Sachs, HIG Ventures, New Enterprise Associates and Warburg Pincus.
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March 21st | The Wall Street Journal
OGX Petroleo e Gas Participacoes S.A. (OGXP3, OGXPY.PK), the Brazilian oil and gas company conducting the largest private exploratory campaign in Brazil, announced it signed concession agreements with the Colombian government for five oil exploration blocks.
OGX, controlled by Brazilian billionaire Eike Batista, signed the accords with Colombia's National Hydrocarbons Agency, or ANH, after acquiring rights to these blocks in a bidding round last June in the Colombian city of Cartagena, OGX said in a statement late Monday.
OGX said it signed exploration and production agreements for the blocks VIM-5, in the Lower Magdalena Valley basin, and VMM-26 in the Middle Magdalena Valley basin. In addition, technical evaluation agreements were signed for blocks CR-2, CR-3 and CR-4, in the Cesar-Rancheria basin, it said. As a result, OGX will commence operations in three new areas of high exploratory potential.
"Signing these agreements represents our entry into another exploratory cycle in a new frontier," said Paulo Mendonca, OGX General Officer.
OGX said it is in the process of contracting companies to provide seismic data and expects to begin initial exploratory activities in blocks VIM-5 and VMM-26.
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