en.Wedoany.com Reported - Iberdrola will invest nearly 250 billion reais (approximately €4.5 billion) in electricity infrastructure in the Brazilian state of Bahia by 2030, as part of the company's efforts to strengthen its grid investments in Brazil. The plan was announced by CEO Ignacio Sánchez Galán at Bahia Farm Show, Brazil's largest agricultural fair, and will be implemented through its subsidiary Neoenergia Coelba. It includes the construction of 54 new substations, over 2,000 kilometers of high-voltage lines, and 42,000 kilometers of medium-voltage networks. This investment will grant Bahia half of the total planned investment in transmission and distribution networks by Iberdrola's Brazilian subsidiary Neoenergia over the next five years, which, following the recent renewal of the distribution concession, will total 500 billion reais (€9 billion).
Speaking at Bahia Farm Show, Galán noted that the 30-year distribution concession renewal contract signed in May was crucial. The contract ensures investment predictability through regulations and encourages a new cycle of investment under a framework of legal certainty. He also emphasized the role of electrification in promoting a more competitive, self-sufficient, secure, and sustainable energy model, and argued that investment in electricity infrastructure is a true engine of development, creating jobs and stimulating local economies through equipment procurement, the creation of new industries, and talent development.
Iberdrola has been in Brazil for nearly three decades, serving over 40 million people through Neoenergia. The group operates in 18 states and the Federal District in Brazil, making it the country's largest electricity distribution group and the company investing the most in power infrastructure. Galán reaffirmed that Brazil is a strategic market for Iberdrola, which began operations in the country in 1997 by integrating the distribution companies of Coelba (Bahia) and Cosern (Rio Grande do Norte). Since then, the company has invested over 120 billion reais (€20 billion) cumulatively in Brazil.
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