Iberdrola will invest approximately €4.5 billion ($5.22 billion) in electricity infrastructure in Bahia, Brazil. The company plans to complete these works by 2030. Local subsidiary Neoenergia Coelba will manage the capital.
This commitment is part of a larger €9 billion spending plan for Brazil. The broader strategy will be executed over the next five years. The project includes the construction of 54 new substations.
The company will install over 2,000 kilometers of high-voltage lines. The plan also adds 42,000 kilometers of medium-voltage networks.
Executive Chairman Ignacio Galán announced the move after a 30-year renewal of distribution concessions. This regulatory extension provides the stability needed for long-term investment.