Iberdrola takes a giant step forward in Brazil. The company, through its subsidiary Neoenergia, has been awarded its largest power grid line in the world in the 1,700-kilometre power transmission line auction held on Thursday, according to the country's National Electricity Agency, Aneel. Specifically, Neoenergia won two of the 13 lots offered: one, 1,707 kilometres, the longest project offered in the auction, between the states of Minas Gerais and São Paulo. The company also won 291 kilometres contract in the state of Mato Grosso do Sul.According to the regulator, the investment in these projects will amount to BRL 5.5 billion (EUR 1 billion) and will create more than 11,000 jobs during construction.The company is betting on this auction thanks to its attractive regulatory framework, revenues are linked to inflation, and the country's legal certainty.
Iberdrola takes a giant step forward in Brazil. The company, through its subsidiary Neoenergia, has been awarded its largest power grid line in the world in the 1,700-kilometre power transmission line auction held on Thursday, according to the country's National Electricity Agency, Aneel. Specifically, Neoenergia won two of the 13 lots offered: one, 1,707 kilometres, the longest project offered in the auction, between the states of Minas Gerais and São Paulo. The company also won 291 kilometres contract in the state of Mato Grosso do Sul.According to the regulator, the investment in these projects will amount to BRL 5.5 billion (EUR 1 billion) and will create more than 11,000 jobs during construction.The company is betting on this auction thanks to its attractive regulatory framework, revenues are linked to inflation, and the country's legal certainty.
