- Iberdrola acquires PREVI's 30.29% stake in Neoenergia for 11.95 billion BRL.
- The transaction is subject to regulatory approvals and expected to close in the coming months.
- Neoenergia supplies electricity to 40 million Brazilians and operates 725,000 km of distribution lines.
- In 2024, Neoenergia invested over 9.8 billion BRL in infrastructure expansion and upgrades.
Acquisition Details
Iberdrola has agreed to purchase Caixa de Previdência dos Funcionários do Banco do Brasil's (PREVI) 30.29% stake in Neoenergia for 11.95 billion BRL, approximately 1.88 billion euros. This acquisition will increase Iberdrola's control to 84% of Neoenergia's share capital. The transaction is pending regulatory approvals and is expected to close in the coming months.
Neoenergia's Operations
Neoenergia is a major electricity supplier in Brazil, serving nearly 40 million people through five distribution companies across Bahia, Rio Grande do Norte, Pernambuco, Sao Paulo, Mato Grosso do Sul, and Brasilia. The company operates 725,000 km of distribution lines and 8,000 km of transmission lines, with a renewable generation capacity of 3,800 MW, primarily from hydroelectric sources.
Investment and Growth
In 2024, Neoenergia invested over 9.8 billion BRL in infrastructure to expand, upgrade, maintain, and automate its networks. The company anticipates strong growth due to increased investments in regulated networks with favorable regulatory frameworks.
Recognition and Awards
Neoenergia's distribution companies have been recognized for their operational excellence, receiving eight awards from the Brazilian Association of Distribution Companies (ABRADEE). Notably, Neoenergia Cosern and Neoenergia Elektro were ranked as the top two distribution companies in Brazil.
