Iberdrola boosts its investments in renewable energies in Brazil by 75%, up to 158 million

Neoenergia expects to close 2022 with 90% of its installed capacity coming from renewable sources

MADRID, 28 May. (EUROPA PRESS) -

Iberdrola's investments in renewable energy projects in Brazil have reached 808 million Brazilian reais (158 million euros) during the first quarter of 2022, which represents an improvement of 75% compared to the same period of the previous year, according to the company has reported.

The group has justified this inverting impulse in its commitment to expand its clean energy portfolio and the decarbonization of the electricity sector.

Among the renewable projects being carried out by the company through Neoenergia, its subsidiary in Brazil, the Luzia solar project stands out, in the Sertão da Paraíba, which has accounted for 45% of the total investment, with more than 364 million euros. reais (71 million euros). This installation will be the first centralized photovoltaic generation plant in Brazil. When it comes into operation, it will have a total capacity of 150 MWdc, enough to supply more than 150,000 homes.

During this period, the company has begun the assembly of solar modules. In total, 228,780 bifacial solar panels will be installed, which are more efficient because they capture direct solar radiation and that reflected by the ground at the bottom of the module.

On its side, Iberdrola has allocated 51% of its investments in projects for the development of wind energy during the first quarter. Within this segment, the construction of the Oitis park stands out, a complex with 12 parks located between the states of Piauí and Bahía, in the northeast region of Brazil, which will be the company's largest wind asset in the country.

Likewise, during the first quarter, the assembly of the 103 wind turbines that the facility will have has begun, which will have an installed capacity of 566 megawatts (MW), which implies sufficient power to supply a population of some four million people, the number of inhabitants of a state like Paraíba. Otis will also prevent the emission of 1.2 million tons of carbon dioxide (CO2) for 20 years.

Currently, Neoenergia has 44 wind farms in operation and under construction, with a total installed wind power capacity of 1,500 MW.

All the energy generated in the two Luzia solar plants will go to the Free Contracting Environment (ACL), with 100% of the energy already sold in 2026. Oitis, for its part, will have 96% of its energy assigned to the market free. The Luzia solar plant and the Oitis park are strategic projects in Neoenergia's commitment to clean energy, which expects to end 2022 with 90% of its installed capacity coming from renewable sources.

In 2021, Neoenergia increased its investments in renewables by 246%, to 3.1 billion reais, more than 600 million euros at the current exchange rate.

In addition to the expansion of renewable sources, Iberdrola is developing other projects in Brazil to advance decarbonization. Thus, the company is carrying out initiatives such as the production pilot project in the Port of Suape, in Pernambuco, developed in collaboration with the state government, with the aim of turning it into a green hydrogen production center in the future.

Iberdrola has highlighted the "great relevance" of this initiative in the country, since Suape has a petrochemical hub with a strategic location for terminal, logistics, service and industrial areas, especially relevant for the European and American markets.

As far as sustainable mobility is concerned, the company has installed the largest monorail in Brazil in the northeast of the country. This project, called Green Corridor, has connected the capitals of Salvador (Bahía) and Natal (Río Grande do Norte) with 18 recharging stations, passing through the cities of Aracaju, Maceió, Recife and Joao Pessoa.