Iberdrola To Invest About 6.5 Billion Euros In Brazil Over The Next 5 Years

Neoenergia Inaugurates Hydroelectric Plant in Paraná, Present at the Ceremony, the Chairman of the Board of Neoenergia, Jose Ignacio Galan, Highlighted the Importance of Brazil to the Company and Announced Investment Plans Amounting to R$ 30 Billion in the Coming Years

The Spanish group Iberdrola Announced That It Will Invest Approximately €6.5 Billion (Almost R$ 30 Billion) in Projects in Brazil Over the Next Five Years, Aiming to Improve Energy Supply in the Country. The Announcement Was Made by the President of Iberdrola, José Ignacio Sánchez Galán, During the Inauguration of the Baixo Iguaçu Hydroelectric Plant, a Project Managed by Neoenergia, a Subsidiary of the Spanish Group, and Companhia Paranaense de Energia (Copel).

The Plant, Located in Capanema, Paraná, Has Over 350 Megawatts of Power and Received R$ 2.3 Billion in Investments. The Energy Produced on Site Will Be Sufficient to Supply 1 Million People and Will Account for 8% of Annual Demand in Paraná.

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Galán Emphasized That the Hydroelectric Plant Will Also Benefit the Iguaçu Falls by Maintaining an Adequate Water Flow. “It’s a Very Complex Surrounding; We Are Right in Front of Iguaçu National Park, and We Had to Be Extremely Respectful with All Environmental Measures, Which Is Nothing New for Iberdrola. But Here, Especially, It Was a Challenge,” Highlighted the Executive.

Through Neoenergia, Iberdrola Has Become One of the Largest Companies in the Sector in Brazil and Serves 13.8 Million Customers. Present in 18 States, the Company Has More Than 3,700 Megawatts of Production Capacity in the Country, 86% of Which Is from Renewable Energies.

The President of Iberdrola Also Noted That the Group Is Building 17 Wind Farms in the Country and Expressed Confidence Regarding the Upcoming Energy Grant Auctions Planned by President Jair Bolsonaro, Who Canceled His Attendance at the Inauguration Due to Weather Conditions. Iberdrola, Galán Stated, Will Continue to Invest in Brazil After 22 Years of Presence in the Country.

Baixo Iguaçu Is the Sixth Hydroelectric Plant Built in the Iguaçu Basin.

Installed on the Iguaçu River, Home to the Famous Falls, the Baixo Iguaçu Hydroelectric Plant Was Built with the Turbines Placed Only 15 Meters Below the Water Level, in a Type of Hydroelectric Plant Known as Run-of-River.

Unlike the More Common Models, Whose Large Reservoirs Require Flooding Extensive Areas, This Type of Plant Generates Less Energy, but at the Same Time Causes a Lower Environmental Impact.

The Installation of the Hydroelectric Plant Also Promoted Job Creation and Boosted Tax Revenue for Municipalities. With the Completion of the Project, the Annual Royalty Revenue Should Exceed R$ 4 Million for the Municipalities. The Resources Will Be Distributed to the Municipalities Proportionally, According to the Area Flooded by the Reservoir.

Renault Will Invest to Consolidate the Fourth Force in Brazil. The Multinational Has Not Yet Disclosed Numbers, But Has Announced That It Will Launch a New Investment Cycle in Brazil Later This Year to Continue the R$ 3.2 Billion Invested Between 2014 and 2018