Iberdrola SA said it has fully energized a 1,600-kilometer (994.19 miles) transmission line between the north of Minas Gerais state and São Paulo.
With six substations and 3,250 towers, the Alto Paranaíba project is the biggest transmission project undertaken by Iberdrola, through its local subsidiary Neoenergia, in Brazil and one of the country’s biggest, the Spanish power and gas utility said in a press release.
The project cost BRL 4.2 billion ($782.21 million), Iberdrola said. Alto Paranaíba was completed 15 months ahead of the schedule set by Brazil’s National Electric Energy Agency, according to Iberdrola.
On November 24, 2025, Iberdrola launched a takeover bid for Neoenergia after which its stake would rise from 83.8 percent to 100 percent. This follows Iberdrola’s acquisition of a 30.29 percent stake in Neoenergia held by Banco do Brasil’s pension fund, PREVI. Iberdrola announced the completion of the transaction with PREVI October 31, 2025.
“Iberdrola offers the same price paid in the recent acquisition of Caixa de Previdência dos Funcionários do Banco do Brasil (PREVI) stake corresponding to 30.29 percent of the capital – 32.5 Brazilian reais per share – updated by the official Brazilian interest rate, called SELIC”, Iberdrola said announcing the takeover bid. “A total disbursement (before its update according to the evolution of the SELIC rate and assuming that Neoenergia does not pay any intermediate dividend) of around EUR 1.03 billion is expected.
“The transaction will simplify Neoenergia’s structure, providing its operations and financing with greater flexibility and reducing costs arising from maintaining the trading of shares on the market.
“With this transaction, Iberdrola reaffirms its commitment to Brazil and to a growth model based on electricity grids, which account for 90 percent of Neoenergia’s business”.
According to the November statement, Neoenergia had nearly 40 million electricity customers served through five distribution units in the states of Bahia, Brasilia, Mato Grosso do Sul, Pernambuco, Rio Grande do Norte and São Paulo.
“Neoenergia, which is present in 18 states and the Federal District, has more than 725,000 kilometers of electricity distribution lines and 8,000 kilometers of transmission lines and has 3,800 megawatts of renewable generation, mainly hydroelectric”, Iberdrola said.
“Globally, Iberdrola already has 1,400,000 kilometers of electricity transmission and distribution lines in the United States, the United Kingdom, Brazil and Spain”.
Iberdrola has allotted Brazil EUR 7 billion in its plan to invest EUR 58 billion across its global portfolio by 2028, as announced by the company September 24, 2025.
To contact the author, email jov.onsat@rigzone.com
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