The president of Iberdrola, Ignacio Sánchez Galán, during a meeting he held this morning in Brasilia with the president of the country, Luiz Inácio Lula da Silva, Galán has ratified his commitment to Brazil’s energy transition.
The meeting was also attended by the Ministers of Mines and Energy, Alexandre Silveira, and of the Civil House, Rui Costa, as well as the CEO of Neoenergia, Eduardo Capelastegui.
Neoenergia, Iberdrola’s subsidiary in the country, plans to invest more than 7,000 million euros -45 billion reais- between 2024 and 2028 in Brazil thanks to the regulatory framework for electrical networks. In fact, the renewal of distribution concessions will culminate in the first half of next year, reaffirming the stability and predictability of the Brazilian electricity sector. The renewal will occur for a period of 30 years at no additional cost, according to what is published.
Galán also conveyed to Lula his commitment to COP30, which will be held in Brazil in 2025.
Great commitment to the country
Iberdrola is, through Neoenergia, the first distributor in Brazil, supplying electricity to more than 40 million Brazilians. The electricity company has almost 730,000 kilometers of power lines in the country, it is present in 18 states and in the federal district of the country. The Brazilian subsidiary of Iberdrola has five electricity distributors: Neoenergia Coelba (BA), Neoenergia Pernambuco (PE), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS) and Neoenergia Brasília (DF).
Iberdrola also has with an installed capacity in Brazil of about 4,500 MW, of which 3,900 MW are renewable. Its base of regulated network assets in the country stood at 10.3 billion euros at the end of the third quarter, which represents 27% of the total, only behind the United Kingdom and the United States (13.7 billion).
The Iberdrola subsidiary has total assets of more than 16,000 million euros, It has a total of almost 16,000 employees and has hired more than 7,000 workers in the last four years.
Through the Neoenergia Institute, the electricity company promotes sustainable development through socio-environmental actions and, thus, contributes to improving the quality of life of the communities where the company operates, especially the most vulnerable people, always aiming for sustainable development.