Neoenergia and GIC expand Brazilian electric transmission partnership

Iberdrola, through its Brazilian subsidiary Neoenergia, has finalized an expansion of its strategic partnership with Singapore’s sovereign wealth fund, GIC, in the electric transmission sector. The deal incorporates seven new assets into their joint platform, Neoenergia Transmissão.

The expanded platform now manages 16 projects totaling 6,710 kilometers of transmission lines. The enterprise is valued at approximately R$ 25.5 billion (roughly €4.25 billion) and is expected to generate annual regulated revenues of about R$ 1.9 billion. Following the transaction, Neoenergia has increased its stake in the joint venture from 50% to 51%, maintaining control, while GIC holds the remaining 49%.

The newly added assets are located across several Brazilian states, including Rio de Janeiro, Santa Catarina, Rio Grande do Norte, Bahia, Minas Gerais, São Paulo, and Mato Grosso do Sul. This infrastructure supports the growing need to transport energy from solar and wind generation sites in the northeast to industrial and consumption centers in the southeast.