Iberdrola, through its subsidiary Neoenergia, has secured two electric transport projects in Brazil with an estimated investment of around €231.5 million.
The estimated investment amounts to 1.4 billion Brazilian reais, approximately €231.5 million at the current exchange rate, for the two projects that the subsidiary Neoenergia has won in the electric transport auction held this Friday. According to elEconomista, the company, which belongs to Iberdrola, announced the award in a statement.
The projects total 834 kilometres of lines and correspond to lots 1 and 7 of the auction organised by the National Electric Energy Agency of Brazil (Aneel). Of those kilometres, 351 will be newly constructed.
The concessions will last 30 years from the signing of the contracts, scheduled for February 2027. The maximum deadline to commence operations is 48 months for lot 1 and 42 months for lot 7.
Lot 1 is located in the state of Bahia and includes 483 kilometres of existing lines, 238 kilometres of new lines, and a capacity of 700 MVA. Lot 7, in Paraíba, includes 113 kilometres of new lines and a capacity of 2,100 MVA.
According to the Spanish energy company, the projects will generate more than 3,100 jobs in both states. Neoenergia already manages more than 8,000 kilometres of transport lines in Brazil, and the company states that the facilities will leverage synergies with its current operations in distribution, transport, and generation in the region.
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