September 3, 2020 |
Neoenergia, the Brazilian business of Spanish electric utility company Iberdrola, has received BRL3.4 billion ($635 million) in financing from the national development bank BNDES to cover half of its planned investments in its distribution network in 2020 and 2021.
The Rio de Janeiro-based holding company got the 20-year loan at the consumer price index index, or IPCA, plus 3.78%, it said in a securities filing on Tuesday.
Neoenergia will distribute BRL1.6 billion from the loan to Coelba, a powe
Brazilian energy company gets $635 mln in 20-year money to fund half of its investments in its distribution network