Latest News
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Brazil wind energy company receives approval for data center with TikTok's interest
Casa dos Ventos, a wind farm developer in Brazil's northeast, has received regulatory approval for a 300 megawatt project. The company had been in discussions with TikTok owner about a large data center investment. Casa dos Ventos reported on Friday that Brazil's national grid operator has given the green light for the project to be connected at the Pecem Port complex in Ceara. The company said that the total investment for infrastructure and equipment in the data centers will be 50 billion reais (8.7 billion dollars). A person with knowledge of the negotiations said that the regulatory approval would speed up the talks with major technology firms, including ByteDance the Chinese parent company for TikTok. First reported last month, the Chinese company is eyeing a major Brazilian investment in data centers with Casa dos Ventos. Casa dos Ventos has partnered with TotalEnergies for its wind energy portfolio by 2022. After an initial rejection, a technical reassessment was conducted by the Brazilian Ministry of Mines and Energy and the national grid operator. This cleared the way for the project to be approved. Casa dos Ventos has announced that it will now start construction during the second half of the year, and begin operation in the second semester 2027. The company stated that its project would use closed-loop cooling systems to reduce water consumption, addressing concerns raised by some data center projects. Casa dos Ventos estimated that the water consumption for the first phase will be about 0.045% the demand of residential housing in the nearby city of Caucaia.
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Brazilian airline Azul plans to exit Chapter 11 by early 2026
Fabio Campos said in a Friday press conference that the Brazilian airline Azul hopes to end Chapter 11 proceedings by early next year. Campos responded that Azul would now concentrate on its financial restructuring. Azul filed for Chapter 11 in the United States this week. Abra, Gol's majority shareholder, and Colombian Avianca announced to Azul in January that they had signed an non-binding Memorandum of Understanding with the intention of merging their businesses in Brazil. Campos noted also that the MoU between Azul and Gol remains valid, even though it is not Azul's priority at this time. Azul finished this week its first Chapter 11 hearing. The court approved the carrier's access to $250 million from its $1.6 billion in debtor-in possession financing. The company stated that the amount combined with other judicial approbations and revenue generated by ongoing operations will provide sufficient liquidity to sustain uninterrupted operations. Campos said that Azul does not plan to lay off massive numbers of employees in light of its financial restructuring. Sales and operations will remain unaffected. Before filing for Chapter 11 protection Azul had agreements with key stakeholders including existing bondholders and aircraft lessor AerCap. It also entered into agreements United Airlines and American Airlines. The executive also noted that other lessors are in talks, besides AerCap. Azul is the latest Latin American airline to declare bankruptcy. It joins a long list of airlines that have been affected by the COVID-19 epidemic.
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Brazil Power Co gets approval for data center with TikTok interested
Casa dos Ventos, a wind farm developer in Brazil's northeast, has received regulatory approval for a 300 megawatt project. The company had been discussing an investment of a large data center with TikTok owner. Casa dos Ventos reported on Friday that the Brazilian national grid operator (ONS), has given the green light for the project to be connected at the Pecem Port Complex in Ceara. Casa dos Ventos said that the total investment for infrastructure and equipment in the data centers will be 50 billion reais (8.7 billion dollars). A person with knowledge of the negotiations stated that the ONS approval would speed up the talks with major tech companies, including ByteDance - the Chinese parent company for TikTok. First reported last month, the Chinese company is eyeing a major Brazilian investment with Casa dos Ventos. Casa dos Ventos has partnered with TotalEnergies in 2022 on its wind energy portfolio.
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Cuba warns top U.S. diplomats in Havana over 'disrespectful behavior'
Cuba's Foreign Ministry said that it issued a verbal caution to the top U.S. Diplomat in Havana on Friday, complaining about behavior it called "intervenionist." This is the latest escalation of tensions between the long-time enemies. Cuba claimed that U.S. Chief Mission Mike Hammer incited "Cubans to commit serious crimes, attack the constitution order, or encourage" them to act against authorities. His actions were a violation to the Vienna Convention on diplomatic relations. The statement stated that "the immunity he enjoys in his capacity as a representative for his country, Cuba, cannot be used to cover acts which are contrary to the sovereignty and internal order of the nation to which he has been accredited." The U.S. State Department didn't immediately respond to an inquiry for comment. Hammer, a career diplomat from the United States who arrived in Cuba about six months ago, traveled widely around the island to meet political dissidents. This has raised the ire of Cuban authorities, who accuse him of trying to foment unrest. Cuba's decision to officially chastise Hammer is just days after a U.S. diplomatic said at a Miami press conference that the Trump Administration was preparing additional sanctions against the communist nation. Cubans are facing the worst economic crisis in decades. The Cuban government attributes this to the Cold War U.S. embargo and a complex web of restrictions which impedes financial transactions, tourism, trade and fuel imports. Cuba has repeatedly criticised Hammer for months, but it hasn't obstructed his travels around the island. (Reporting and editing by Alistair Bell; Dave Sherwood)
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Sources say that Saudi companies will place orders for Airbus jets in the dozens, according to sources
Industry sources have said that Saudi Arabia will place orders worth billions of dollars for Airbus jets in order to balance its suppliers and match the growth of Gulf neighbours' aviation. They said that the leasing company AviLease could place a similar order for Airbus A320neo aircraft at next month's Paris Airshow. The company placed an order of 30 Boeing 737 MAX during a recent visit by U.S. president Donald Trump to the region. They added that the fast-growing firm, which wants to become one of the top lessors in the world, could also be interested in Airbus A350 Freighters. They said that if there is no problem with the negotiations, Riyadh Air, a startup airline, will likely choose Airbus A350 instead of Boeing's delayed Boeing 777X. Bloomberg reported earlier that the possible Riyadh A350 deal could also involve 50 jets. It would be announced at a trade show this year. Airbus declined comment. AviLease wasn't immediately available. Riyadh Air confirmed that it is studying an order for wide-body large planes. A spokesperson said that a decision would be made within the next few months. (Reporting by Tim Hepher, Allison Lampert and Elaine Hardcastle; Editing by Elaine Hardcastle).
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IndiGo will terminate Turkish Airlines' lease after India grants final extension
IndiGo said it will end its leasing agreement, which was extended by the state-owned Turkish Airlines, within three months of the final extension. This will force the airline to look for alternatives. India has criticized the agreement after Turkey supported Pakistan in the recent conflict between two South Asian neighbors. IndiGo's competitor Air India has also opposed the pact, having lobbied India to terminate the deal citing security and business concerns. Directorate General of Civil Aviation stated that IndiGo has given an undertaking to terminate the lease agreement with Turkish Airlines on August 31. It will not be seeking a further extension. IndiGo requested a six-month extension, which is permitted under the rules, but was denied. Instead, a shorter period of time was approved, citing convenience for passengers, and confirmed an earlier report. The lease was set to expire Saturday. IndiGo did not respond to a request for comment immediately on Friday. The airline has previously defended its Turkish partnership by saying that it benefits Indians and creates jobs and aviation growth. Reporting by Abhijith Gaapavaram from New Delhi, and Nandan Mandayam from Bengaluru. Editing by David Holmes & David Evans
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Airbus factories are plagued by raccoons that are rampaging.
Airbus has been plagued by supply chain problems and parts shortages. A family of raccoons broke into the factory. Sources said that five of the baby animals were discovered inside the Montreal plant, which manufactures A220 aircraft, after their mother had been spotted climbing up the landing gear on a jet produced for an European airline. A factory worker reported that "a guy was face-to-face with the raccoon after entering the plane." According to a second source, damage includes urine and chewed-wires. The first jet had to be quarantined and inspected for any damage caused by the furry invaders. These creatures are notorious for scavenging in trash bins to find food. Airbus confirmed that a family raccoons was discovered on one of its planes, but refused to comment whether the raccoons had caused further delays in production or any damage. A spokesperson stated that the aircraft was undergoing its assembly process, and added that safety and quality measures were in place. Airbus has warned that the company faces three more years of delays in delivering aircraft as it attempts to resolve supply-chain issues. Airbus said that recent snags included missing engines, delayed arrivals of parts and delays in interiors. Airbus' contingency plans have rarely had to deal stray omnivores in the rural plant. The second source explained that "we had to open up everything again to inspect". Airbus confirmed that the animals were removed and placed in a safe place. (Reporting and writing by Allison Lampert, Tim Hepher, Editing by Joe Bavier).
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The price of arabica coffee futures will be changed to metric tons by ICE
According to a statement from ICE, the Intercontinental Exchange, which runs the arabica futures contracts that set the benchmark price for this type of coffee globally, will be changing the way these contracts are offered over the next few months. The exchange announced late Thursday that they would stop offering the current futures contracts which are priced in cents per pound and instead offer new contracts with a price in dollars per ton. When the contract expires, around March 2028, all contracts will be quoted in dollars per metric ton. Around March 2028 all contracts will then be quoted in dollars/metric ton. The statement stated that the exchange will introduce new arabica futures and options contracts priced in metric tonnes later this year. ICE stated that the new contract will allow coffee to be stored inside flexible intermediate bulk containers. These are commonly known as big bags on the market, and can usually carry up to 1 metric tonne of product. Several coffee producers, co-ops, and traders use big bags instead of traditional 60 kg jute bags for storing and transporting coffee. You can check here the details of the exchange's announcement of the termination of a number of contracts. (Reporting and editing by Mark Potter.)
The US Supreme Court rules in favor of the Utah Railway, which was challenged by environmentalists
The U.S. Supreme Court on Thursday upheld a Utah railroad project that was intended to transport crude oils, ruling against environmentalists and a Colorado County who had challenged the federal approval.
The 8-0 decision overturned a lower courts' decision which had stopped the project. It had also faulted a Surface Transportation Board environmental impact report issued by the federal agency in approval of the railway for being too limited in scope.
A coalition of seven Utah Counties and an Infrastructure Investment Group are seeking to build an 88-mile-long (142-km-long) railway line to connect the sparsely-populated Uinta basin region to an existing rail freight network, which would be used to transport waxy crude oils.
The case examined the scope of the environmental impact studies required by federal agencies under the National Environmental Policy Act enacted in the United States in 1970. This law was enacted to prevent any environmental harm that could result from large projects. The law requires that agencies evaluate the "reasonably predictable" effects of any project.
The Supreme Court heard arguments in this case on December 10. Companies and environmental groups have been watching closely to see how the ruling could affect a broader range of energy and infrastructure projects.
Companies and business groups say that environmental reviews with a broad scope can delay the regulatory process by years, putting at risk the viability of a project and future infrastructure developments.
Surface Transportation Board (which has regulatory authority for new railroad lines) issued an environmental impact report and approved the rail proposal in 2021.
The Center for Biological Diversity, along with other environmental groups, sued the state of Colorado over the approval. Eagle County also filed a lawsuit, citing that the project would double the traffic on a rail line already in place along the Colorado River and increase the train traffic within its region.
The U.S. Court of Appeals, District of Columbia Circuit, ruled in favor of challengers 2023. They concluded that the environmental assessment did not adequately analyze the effects of increased production of oil in the basin and downstream, where oil would be refined.
The administration of Democratic former president Joe Biden, as well as the state Utah, had supported the railway coalition.
The challengers were supported by 15 other states. Colorado's economy is based on outdoor recreation and the project would increase the risk of spills, rail accidents, or leaks near the Colorado River headwaters.
Conservative Justice Neil Gorsuch resigned from the case, after some Democratic legislators urged him to do so because former client Philip Anschutz has a financial stake in its outcome.
(source: Reuters)