The renewed electricity distribution concessions cover Neoenergia Coelba, Neoenergia Cosern and Neoenergia Elektro.

Neoenergia, a Brazilian subsidiary of Iberdrola, has renewed three electricity distribution concessions in Brazil, announcing plans to invest nearly 50bn reais ($10.2bn) by 2030.

The new investment nearly doubles the 27.5bn reais committed in the past five years and focuses on expanding, modernising and digitalising the nation’s electricity infrastructure.

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The renewed concessions cover Neoenergia Coelba in Bahia, Neoenergia Cosern in Rio Grande do Norte and Neoenergia Elektro in São Paulo and Mato Grosso do Sul, each extended for an additional 30 years.

These join the pre-existing renewal for Neoenergia Pernambuco, valid until 2060, and the concession for the Federal District of Brasília, granted in 2021 until 2045.

Iberdrola executive chairman 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.

“In a world where electrification is essential to drive social and economic development, as well as self-sufficiency, competitiveness and sustainability, electricity networks are absolutely crucial.”

The investment will facilitate the digitalisation of networks, improve supply quality and increase capacity to meet rising energy demands.

The initiative supports the electrification of the economy and contributes to Brazil’s industrial and social development.

In 2025, the group’s total investments in Brazil reached 30bn reais, encompassing both organic growth and acquisitions within Neoenergia.

Neoenergia operates in 18 states and the Federal District, managing more than 750,000km of distribution lines, 8,000km of transmission lines and producing 4,000MW of renewable energy, primarily from hydroelectric sources. The company serves 40 million citizens in the country.

Last month, Iberdrola divested its Mexican business following the receipt of all required regulatory approvals, transferring operational assets with a capacity of 2.6GW to Cox in a $4bn (€3.41bn) deal.