The Spanish company Iberdrola obtained a €300 million loan from the European Investment Bank (EIB) for the construction of electricity grids in Brazil. The term is 10 years “with a two-year grace period for principal payments,” to work together with Brazil’s Neoenergia Coelba.

It was learned that this financing “is part of the European Union’s Global Gateway initiative, which seeks to mobilize sustainable investments in key sectors such as energy, transportation, and digitalization.”

For Brazil, this is the first EIB loan for the electricity sector and “has a guarantee from the Italian energy agency SACE, which reduces the total cost of the operation.”

Regarding the local partner, Coelba, it is Iberdrola’s subsidiary in Brazil, which serves more than six million customers.

M.Pino

Source: 20minutos

(Reference image: Enq 1998 on Unsplash)

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La entrada Brazil obtains €300 million loan to develop electricity grids apareció primero en Bitfinance.