The Diplomat
The president of Iberdrola, Ignacio Galán, has pledged to the president of Brazil, Luiz Inácio Lula da Silva, to contribute to the country’s energy transition.
Galán was received by Lula on December 3 in Brasilia, in the presence of 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 billion euros – 45 billion reais – between 2024 and 2028 in Brazil thanks to the regulatory framework for electricity networks. The renewal of the distribution concessions, for a period of 30 years at no additional cost, will be completed in the first half of next year. Galán also conveyed to Lula his commitment to COP30, which will be held in Brazil in 2025.
Iberdrola is, through Neoenergia, the leading distributor in Brazil, supplying electricity to more than 40 million Brazilians. The electricity company has almost 730,000 kilometres of power lines in the country, and is present in 18 states and in the country’s federal district. Iberdrola’s Brazilian subsidiary has five electricity distributors: Neoenergia Coelba (BA), Neoenergia Pernambuco (PE), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS) and Neoenergia Brasília (DF).
Iberdrola also has an installed capacity in Brazil of around 4,500 MW, of which 3,900 MW are renewable. Its regulated network asset base in the country stood at 10.3 billion euros at the end of the third quarter, representing 27% of the total, behind only the United Kingdom and the United States (13.7 billion).
The Iberdrola subsidiary has total assets of more than 16 billion euros, has a total of almost 16,000 employees and has hired more than 7,000 workers in the last four years.
