Iberdrola to Invest $10B in Brazil through 2030

Iberdrola SA, through Neoenergia SA, expects to invest nearly BRL 50 billion ($10.21 billion) through 2030 to expand its networks business in Brazil.

"This investment effort will drive the digitalization of the networks, strengthen supply quality and expand its capacity to meet growing energy demand", the Spanish power and gas utility said in an online statement.

"The new plan almost doubles the 27.5 billion reais invested over the last five-year period (2021-2025) and ushers in a new phase of growth based on the expansion, modernization and digitalization of electricity infrastructure", Iberdrola said.

Iberdrola previously said it had earmarked EUR 7 billion ($8.24 billion) for Brazil in its plan to invest EUR 58 billion across its global portfolio by 2028.

Iberdrola launched the new investment cycle for Brazil following the formalization of early renewal for three electricity distribution concessions in the South American country: Neoenergia Coelba (Bahia), Neoenergia Cosern (Rio Grande do Norte) and Neoenergia Elektro (São Paulo and Mato Grosso do Sul).

"The extensions, which run for 30 years, add to the renewal obtained in 2025 for Neoenergia Pernambuco, in force until 2060, and to the original concession for the Federal District of Brasília (Neoenergia Brasília), granted in 2021 through to 2045", Iberdrola said.

Iberdrola executive chair Ignacio Galán said, "This is an event of enormous importance for the electricity sector: it strengthens legal and contractual certainty and consolidates a stable and predictable regulatory environment - exactly what provides the confidence and predictability for international investors to expand their commitments in Brazil".

"The predictability provided by the renewal will also make it possible to place orders for the equipment and materials required, which will boost industry and employment in Brazil at a time of intense global competition driven by electrification", Galán said.

As of the first quarter (Q1) Brazil was Iberdrola's second-biggest market for distributed electricity, accounting for 20,485 gigawatt hours (gWh). That placed it behind Spain (23,462 gWh), according to the company's quarterly report.

Iberdrola had an installed generation capacity of 4.2 GW in Brazil at the end of the first quarter. Renewables, mostly hydro plants, accounted for 3.65 GW, while gas combined-cycle plants comprised 550 megawatts.

In Q1 Brazil contributed EUR 2.27 billion in revenue to Iberdrola's networks business, which involves power and gas distribution.

Additionally Brazil delivered EUR 107.6 million in Q1 revenue for Iberdrola's "power and customers" business, which involves power and gas retail.

In November 2025 Iberdrola launched an offer to take over 100 percent of Neoenergia, its Brazilian arm. It said April 9, 2026 the offer reached a 98 percent acceptance rate among shareholders. Iberdrola said at the time it expects to acquire the remaining ownership via Neoenergia's right of squeeze-out.

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