Iberdrola to pour USD 833m in Brazil's Rio Grande do Norte

Transmission lines in Brazil. Image by Gabriel Jabur/AgĂȘncia BrasĂ­lia, via Flickr.

May 14 (Renewables Now) - Spain’s Iberdrola SA (BME:IBE) will invest BRL 3 billion (USD 833.1m/EUR 696.5m) in new electricity distribution and wind projects in Rio Grande do Norte over the next five years, the state government said on Friday.

During a meeting with representatives of Iberdrola, Neoenergia Group and the Companhia Energetica do Rio Grande do Norte (Cosern), governor Robinson Faria stated that one of the main reasons the state attracts renewable energy companies is its policy to expedite environmental licenses for projects.

Iberdrola has 11 wind farms in the state and with the new investments, it intends to double the capacity currently operated, said CEO Ignacio Galan.

Currently, Rio Grande do Norte is the largest producer of wind energy in Brazil, the government noted.

(BRL 1 = USD 0.28/EUR 0.23)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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