News

Brazil’s Minister of Mines and Energy, Alexandre Silveira, held a working meeting, at Iberdrola's offices today in Madrid, with Ignacio Galán, the Company’s Executive Chairman. During the meeting, they discussed the main current issues in the sector, especially in Brazil. 

During his trip to Spain, the Minister also visited Iberdrola's green hydrogen plant in Puertollano − the largest plant of this technology for industrial use in Europe. During the tour, the Company explained how green hydrogen can be a key enabler for accelerating the energy transition when it comes to energy uses that are difficult to electrify.

Neoenergia currently has a green hydrogen research and development (R&D) project, overseen by the National Electric Energy Agency (Aneel), for implementing a pioneering green hydrogen plant in Brazil. The plant is under construction in Brasilia and is expected to be launched next year. The unit will be powered by a 150kWp photovoltaic plant, and will help in the decarbonisation process of segments that are still difficult to reduce CO2 emissions, such as transport. This project will be one of the first green hydrogen supply points in the country for supplying buses and light vehicles.

Furthermore, Neoenergia has five cooperation agreements with governments and companies for low-carbon green hydrogen projects in Rio Grande do Norte, Ceará, Pernambuco, Rio Grande do Sul and Rio de Janeiro. In addition, this Iberdrola's subsidiary has specific projects, at an advanced stage of maturity, which could involve over R$500 million in investments.

The visit comes just days after the Brazilian government approved a decree regulating the early extension of electricity distribution concessions for 30 years.

In accordance with its 2024-26 plan, Iberdrola will allocate a total of €4.5 billion to Networks in Brazil over the next three years. 

Eduardo Capelastegui, the CEO of Neoenergia, Iberdrola's subsidiary in Brazil, also attended the meeting and reinforced the Company's interest in investing in green hydrogen and derivatives in Brazil. 

The Company is confident that the recent approval of PL 2.308/2023 in the Federal Senate, which establishes the regulatory framework for the production of green hydrogen, will ensure greater legal and regulatory certainty for investors' decision-making. The Company aims to be one of the catalysts for the advancement of this technology in the country. 
 

Some notes on Iberdrola in Brazil

Iberdrola operates in Brazil through Neoenergia, a leading grid company with almost 730,000 kilometres of power lines. Neoenergia is present in 18 states and the federal district of the country and has five electricity distributors and almost 4,500 megawatts of renewable energy installed.

Neoenergia distributes electricity to around 40 million Brazilians through 16 million supply points, and employs more than 15,000 people and creates 28,000 jobs in the country through its activities.