In a meeting with Lula da Silva, Ignacio Galán reaffirms Iberdrola’s commitment to Brazil

The Chairman of Iberdrola, Ignacio Galán, held a meeting with the President of Brazil, Luiz Inácio Lula da Silva, on the occasion of the Spain–Brazil bilateral summit held in Barcelona, and highlighted the country’s strategic importance in the Group’s long-term vision.

With around 120 billion reais (approximately 20.4 billion euros) in assets and a served population of more than 45 million people in the country, Iberdrola is Brazil’s leading electricity distribution group. Specifically, Iberdrola operates and distributes electricity in the states of Bahia, Rio Grande do Norte, Pernambuco, São Paulo and Mato Grosso do Sul, as well as in Brasília. 

During the meeting, Ignacio Galán conveyed to the President of Brazil the Group’s firm commitment to the country, reflected in investments of 30 billion Brazilian reais (more than 5 billion euros) over the last year, making it the largest investor in Brazil’s electricity sector.

Once the renewal of its distribution concessions in Brazil has been confirmed, Iberdrola’s Chairman informed Lula da Silva of Iberdrola’s intention to continue investing significantly in this activity in the country in the coming years, in order to keep expanding and modernising the networks of all its distribution companies in Brazil and to electrify areas such as the western part of the state of Bahia, with the aim of providing homes and industries — such as the agri-food sector — with access to secure, competitive and clean energy.

Including its generation, transmission and electricity distribution assets, Iberdrola is present — through its subsidiary Neoenergia — in 18 Brazilian states and the Federal District, with more than 725,000 kilometres of electricity distribution lines and 8,000 kilometres of transmission lines, as well as 3,600 MW of renewable generation, mainly hydroelectric.