Iberdrola will invest around 6,5 billion euros over the next 5 years in Brazil

Neoenergia inaugurates a hydroelectric plant in Paraná, present at the ceremony, the chairman of the board of directors of Neoenergia, Jose Ignacio Galan, highlighted the importance of Brazil for the company and announced investment plans that reach around R$ 30 billion in the coming years

The Spanish group Iberdrola announced that it will invest around 6,5 billion euros (almost R$ 30 billion) in projects in Brazil over the next five years, with the aim of improving the country's energy supply. The announcement was made by the president of Iberdrola, José Ignacio Sánchez Galán, during the inauguration of the Baixo Iguaçu hydroelectric power plant, a project carried out by Neoenergia, a subsidiary of the Spanish group, and by Companhia Paranaense de Energia (Copel).

The plant, located in Capanema, Paraná, has more than 350 megawatts of power and received R$ 2,3 billion in investments. The energy produced at the site will be enough to serve 1 million people and will correspond to 8% of Paraná's annual demand.

Galán pointed out that the hydroelectric plant will also benefit the Iguazu Falls by maintaining an adequate flow of water. “It is a very complex environment, we are right in front of the Iguaçu National Park and we had to be extremely respectful of all environmental measures, which is not something new for Iberdrola. But here, in particular, it was a challenge,” said the executive.

Through Neoenergia, Iberdrola has become one of the largest companies in the sector in Brazil, with 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 come from renewable energies.

The president of Iberdrola also recalled that the group is building 17 wind farms in the country and was confident about the upcoming energy concession auctions planned by President Jair Bolsonaro, who canceled his presence at the inauguration due to weather conditions. Iberdrola, said Galán, will continue to invest in Brazil after 22 years in the country.

Baixo Iguaçu is the sixth hydroelectric plant built in the Iguaçu Basin.

Located on the Iguaçu River, the one with the famous Falls, the Baixo Iguaçu HPP was built with the turbines placed just 15 meters below the height of the water, in a type of hydroelectric plant known as a run-of-river hydroelectric plant.

Different from the more common models, whose large reservoirs require the flooding of large areas, the plants of this type generate less energy, but at the same time cause a smaller environmental impact.

The installation of the hydroelectric plant also promoted the creation of jobs and leveraged the tax collection of the municipalities. With the completion of the work, the annual collection of royalties should exceed R$ 4 million for municipalities. The resources will be shared proportionally with the municipalities, according to the area flooded by the reservoir.

Renault will invest to consolidate the fourth force in Brazil. The multinational still does not speak in numbers, but it has already announced that it will carry out a new cycle of investments in Brazil later this year to continue the R$ 3,2 billion invested between 2014 and 2018

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