Neoenergia, part of the Iberdrola Group, and the European Investment Bank (EIB), through EIB Global, have signed a financing agreement to expand and modernise the electricity distribution grid operated by Neoenergia Elektro in the Brazilian states of São Paulo and Mato Grosso do Sul. The loan of R$857 million is guaranteed by Cesce, the Spanish export credit agency.
The programme will fund the refurbishment and modernisation of distribution lines, substations, control and protection systems, and grid automation, as well as measures to reduce technical losses. The investments are intended to improve grid reliability and resilience, increase capacity and facilitate connections for new users, including low-income households and renewable energy generators.
