2023-07-05 02:29:21
This content was published on July 5, 2023 – 00:16 July 5, 2023 – 00:16
Rio de Janeiro, Jul 4 (EFE).- The electric company Neoenergia, a subsidiary of the Spanish Iberdrola in Brazil, reported on Tuesday that it obtained a loan for 100 million dollars from the Official Credit Institute (ICO) of Spain conditional on meeting goals sustainable.
“It is a green financing linked to ESG goals (environmental, social and governance criteria), such as a percentage of women electricians in the company and the reduction of the carbon emissions index,” reported the second largest electricity distributor in Brazil in communication to the market.
According to Neoenergia, which is also a major electricity generator and transmitter, compliance with the goals will be verified in 2026 and, if the company meets them, it will guarantee a reduction in debt interest margins.
The contracted credit is for ten years of amortization but with a three-year grace period on the principal value.
The Brazilian power company highlighted that it is the first company in Latin America to receive a loan of this type from the ICO, a public entity dedicated to adding value to the financing of the Spanish business chain.
“This is the first direct financing from ICO to a company in the energy sector in Brazil and the first Sustainability Linked Loan signed by ICO in America,” he stated.
According to Neoenergia, the contract demonstrates the company’s broad access to credit lines at competitive costs and terms, with which 2 reiterates its strategy of diversifying financing sources to support the development of its business plan.”
Neoenergia, controlled by Iberdrola but with shares traded on the Sao Paulo stock exchange, has five distributors in Brazil that serve 16.1 million customers and a population of some 37.7 million people.
The company has 18 concessions to operate 8,600 kilometers of electricity transmission lines, of which 2,500 kilometers are already in operation and 6,100 under construction, and it has an installed generation capacity of 5.2 GW (gigawatts), of which one 90% is from renewable sources. EFE
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