Day: June 10, 2020

Wind PPA helps Scania Argentina run 100% on renewables

Scania Argentina, a unit of Swedish truck maker Scania AB, is running 100% on renewable energy thanks to a power purchase agreement (PPA) for 22.4 MW of wind capacity. The company said it has been receiving a supply of electricity from the Los Olivos wind farm, located in Argentina’s Cordoba province, since this April. The PPA was arranged with local power producer Central Puerto SA.

Because of Covid-19, the OECD expects Argentina’s GDP to collapse to 10.1%

The Organization for Economic Co-operation and Development (OECD) warned that, as a result of the pandemic, argentina’s economy can collapse to 10.1%. Before the arrival of the coronavirus in the country, the same organism maintained that the fall was going to be 2%. The impact of the virus on economic activity and the stopping of activities caused by social isolation, preventive and mandatory, generated scenarios rather than discouraging for Argentina.

Argentina mulls export sweetener to bridge gap in debt talks

Argentine officials may offer warrants linked to the South American nation’s agricultural exports to close the gap with top creditors in debt restructuring talks, according to people familiar with the matter. The idea is garnering support from some of the country’s biggest bondholders, said the people, who requested anonymity because the talks are private. They view Argentina’s export data as more transparent than figures on gross domestic product. GDP warrants have also triggered legal battles in the past.

IRSA registered a net loss of $60.59mn in Q3 fiscal year ended March 31

RSA Inversiones y Representaciones S.A. the leading real estate company in Argentina, announced a net lossof AR$4.187 billion ($60.59 million) for the nine-month period of 2020, compared to a loss of AR$13.442 billion ($194.56 million) during the same period of 2019. This lower loss is mainly explained by the result from the deconsolidation of Gav-Yam, offset by lower results of the market valuation of Clal in the Israel operations center and net financial losses in Argentina.