Neoenergia, Iberdrola Group’s subsidiary in Brazil, and the EIB – the European Investment Bank Group’s development arm – have announced a €300 million green financing agreement to modernise the electricity network of Bahia, the distributor serving more than six million customers across 415 municipalities in the state of Bahia, Brazil.
The agreement, which was signed in July 2025 to support the modernisation of the electricity network in Brazil’s fifth-largest state, was announced during the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil.
The financing will support the expansion of the electricity network and the construction of new connections, as well as investment in automation equipment, contributing to the modernisation of the distribution network.
