Iberdrola has reached an agreement to purchase a 30.29 per cent stake in Neoenergia from PREVI. With this acquisition, Iberdrola will hold approximately 84 per cent of Neoenergia’s share capital. The agreed price of 32.5 BRL per share represents a total cash payment of 11.95 billion BRL, equivalent to about €1.88 billion.
The completion of this transaction remains subject to the necessary regulatory approvals and is expected to close in the coming months. Neoenergia supplies electricity to nearly 40 million people across Brazil through five distribution companies operating in Bahia, Rio Grande do Norte, Pernambuco, São Paulo, Mato Grosso do Sul, and Brasilia. The company has renewable energy generation capacity of 3,800 MW, mostly from hydroelectric sources.
Earlier this month, Iberdrola signed a power purchase agreement with Selex Gruppo Commerciale for 1,250 GWh. The company will supply 125 GWh annually from a 77 MW of solar photovoltaic project, starting July 2026. Furthermore, the company commissioned a 316 MW Spanish solar project in the same month. The project was developed with an investment of approximately €200 million, in partnership with Norges Bank.