June 18 (Renewables Now) - The Brazilian government expects significant investments in the ethanol sector after new measures supporting energy were signed on Monday by the Minister of Mines and Energy, Bento Albuquerque.
During the opening of the Ethanol Summit event, the minister signed an ordinance regulating the conditions for issuing infrastructure debentures for projects in the oil, natural gas and biofuels sectors.
The ordinance helps unlock investment in the country's biofuels sector by allowing companies to raise funds with tax exemptions for investors to expand their operations, increase the number of producing plants or modernise them, the ministry noted.
The ethanol sector, investments of around BRL 9 billion (USD 2.3bn/EUR 2bn) per year are expected for the renewal of sugarcane plantations, and BRL 4 billion more for increasing production of sugarcane.
(BRL 1 = USD 0.26/EUR 0.23)