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Get the news on sustainable finance & investment in Latin America Name * First Last Email * Company * Job Title * Δ NEWSLETTER DELIVERED MONTHLY THANKS TO US trading company Cargill acquired the 50% of Brazilian sugar and ethanol producer SJC Bioenergia that it did not already own in a bid to expand its activities in the sector. “Having SJC as a 100% Cargill-controlled company is an important boost to our growth strategy in renewables,” said Paulo Sousa, CEO of Cargill’s Brazilian subsidiary, in a statement Thursday. Cargill said it bought the shares from foreign bondholders of SJC for un disclosed sum. Sousa said Cargill has invested BRL6.8 billion ($1.2 billion) in Brazil in recent years. It acquired 50% of SJC in 2011. ADVERTISEMENT Overcoming Three Challenges to Unlock the Potential of Green Hydrogen Several countries in Latin America and the Caribbean have an adequate renewable energy generation capacity, abundant water resources and other favorable conditions to diversify the power generation matrices and decarbonize energy-intensive industrial segments. Breaking down legal, regulatory, financial, technical and market barriers can help them lead the charge on clean energy initiatives. SJC has two agro-industrial units in the municipalities of Quirinópolis and Cachoeira Dourada in the central Brazilian state of Goiás. The company processes sugarcane and corn to produce raw sugar, hydrated and anhydrous ethanol, corn oil and dried distillers’ grains with high protein content, in addition to generating electricity. Cargill’s acquisition is the latest in a series of transactions in the sector in recent years, including US trading firm Bunge’s sale of its sugar assets to UK oil company BP, and French trader Louis Dreyfus’s sale of Biosev to Raízen. More Sustainable Finance & Investment News FREE TO READ THANKS TO Banco W prints second social bond Gerdau snaps up hydro power plants Finanzauto taps Bladex for ESG loan IFC approves Banco Pichincha loan EDP Renováveis requests SLL from IFC CABEI, Funo price ESG bonds CABEI talks pricing for sustainable bonds Acciona taps SLL Funo firms up new SLB issuance Aegea subsidiary tees up ESG bond deals Aeris gets bond waiver Cross-border bond markets lure more LatAm issuers Load more posts Something went wrong. Please refresh the page and/or try again.
