During COP30 in Belém, the European Investment Bank (EIB) and Neoenergia formalized a EUR 300 million green finance agreement to strengthen the electricity distribution network in the Brazilian state of Bahia. The objective: to accelerate equitable access to clean energy. clean energy and improve infrastructure in more than 400 municipalities.
Europe drives improvements in Bahia’s power grid
The operation is part of the EU’s Global Gateway strategy, a program that seeks to mobilize sustainable investment in key regions. With this partnership, the EIB, through its development arm EIB Global, reinforces its commitment to climate action in Latin America. In the case of Brazil, the loan will will finance network automation projectsextension of lines and connections for areas with lower coverage.
Neoenergia Coelba, a subsidiary of the Iberdrola group, will be in charge of executing the investments, which will benefit more than six million users. Part of the financing will go to smart metering technologies and remote monitoring equipment. remote monitoring equipment. This will reduce technical losses and ensure greater stability of the electricity system in rural areas.
Commitment to international standards
The project evaluation passed a strict technical and environmental process, complying with the parameters required by European institutions. This positions Neoenergia as one of the few Brazilian companies with access to international green financial instruments under competitive commercial conditions.
The modernization of Bahia’s infrastructure is in line with Brazil’s commitments to the Paris Agreement and the United Nations Sustainable Development Goals. The EIB confirmed that it will continue to promote projects in Latin America that integrate renewable energy, digitalization and social development in vulnerable communities.
Source and internal photo: Neoenergia
Main photo: EIB
