What's Happening?
Iberdrola Group, through its subsidiary Neoenergia, has completed a significant transmission line project in Brazil, known as the Alto Paranaíba Project. This project, which is Iberdrola's largest transmission initiative
in Brazil, spans 1,600 kilometers and includes 3,250 towers and six substations. The project aims to significantly boost power transmission capacity between the northern region of Minas Gerais and São Paulo, Brazil's largest city by population. The infrastructure contract was awarded to Neoenergia in a 2022 auction by the National Electric Energy Agency (ANEEL), and the construction was completed over 15 months ahead of schedule. The project represents an investment of approximately $783 million.
Why It's Important?
The completion of the Alto Paranaíba Project is a critical development in Brazil's energy sector, enhancing the country's power transmission capabilities. This project supports Brazil's reliance on renewable energy, which constitutes over 90% of its electricity generation, primarily from hydropower. By improving transmission infrastructure, the project facilitates the efficient distribution of renewable energy, supporting Brazil's energy transition goals. Additionally, the project underscores Iberdrola's commitment to expanding its presence in the Brazilian market, which is crucial for meeting the growing energy demands of São Paulo and surrounding regions.
