- EIB and Neoenergia signed contract in July 2025 to support electricity grid upgrades in Brazil’s fifth-largest state.
- The initiative supports Brazil's climate goals and the EU's Global Gateway strategy.
- Agreement announced during the COP30 UN Climate Change conference in Belém, Brazil.
The electricity distribution network in the Brazilian state of Bahia will be upgraded with support from a €300 million loan from EIB Global – the development arm of the European Investment Bank Group – to Neoenergia Coelba, a distributor serving more than 6 million customers across 415 municipalities in Bahia.
The financing will be used to expand the electricity grid and make new connections and invest in automation equipment, contributing to the modernisation of the distribution network. The company will use the EIB Global loan to carry out projects that will enable more people—especially in low-income communities—to access clean energy in Bahia, the fifth-largest state in the country, with a population of almost 15 million inhabitants. The project is also aligned with Brazil's goals of improving energy efficiency and expanding the use of renewable sources over the next decade.
Furthermore, the funding offers competitive commercial terms and results from a rigorous technical and environmental due diligence process, representing a strategic opportunity available to only a select group of Brazilian companies that meet the highest international standards.
During the 30th United Nations Climate Change Conference (COP 30) in Belém, Brazil, representatives from EIB and Neoenergia took part in a ceremony celebrating their partnership —signed in July this year—underscoring the project’s alignment with Brazil’s climate goals and the European Union’s Global Gateway strategy.
“This investment marks a pivotal step in strengthening Brazil’s energy infrastructure while advancing our shared global commitment to climate action,” said EIB Vice-President Ambroise Fayolle. “We are proud to support a project that empowers the private sector, connects communities and renewables and sends a strong signal about our partnership with Latin America in building a greener, more resilient future.”
"The ceremony at COP30 enhances the strategic value of the partnership with the EIB and the alignment with global climate commitments. This new project, which is already underway, will allow Neoenergia to further invest in Bahia, focusing on upgrading the distribution network throughout the state. This initiative will be key to ensuring that renewable energy reaches Bahia's communities safely and efficiently and strengthens our purpose of promoting fair access to clean energy," said Eduardo Capelastegui, CEO of Neoenergia.
The project, set to be implemented over the next few years, is part of the Green Deal between the European Union and Brazil. It also holds strategic importance for the EU within the framework of its Global Gateway investment program.
The project reinforces Brazil's commitments under the Paris Agreement, signed in 2015, to combat climate change and contributes to the UN's 2030 Agenda for Sustainable Development.
Global Gateway
Global Gateway is the EU's positive offer to reduce the worldwide investment disparity and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems. The Global Gateway strategy brings together the EU, Member States and European development finance institutions. Together, they aim to mobilise up to €300 billion in public and private investments from 2021 to 2027.
EIB Group at COP30
An overview of EIB Group activities at the UN climate conference, known as COP30, is available on the organisation’s website. The EIB Group shares a pavilion with the group of multilateral development banks. The full agenda is available here.
EIB Group Climate Bank Roadmap Phase Two
The EIB Group is pressing ahead with phase two of its pioneering Climate Bank Roadmap, staying the course as anchor financier of the green industrial revolution, energy security and shared prosperity. Building on the great success of our Climate Bank Roadmap since its launch in 2020, the second phase of the roadmap sets out the EIB Group’s priorities through to the end of this decade, supporting Europe’s competitiveness, security, technological leadership, doubling adaptation finance while simplifying its procedures to accelerate green investment.
Background information
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, a stronger Europe in a more peaceful and prosperous world and Europe’s capital markets union.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
Approximately half of the EIB's financing within the EU targets cohesion regions, where per-capita income is below the EU average, while almost 60% of annual EIB Group investments support climate action and environmental sustainability.
High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.
About EIB Global
EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
EIB Global in Brazil
Brazil is the biggest beneficiary of EIB financing in Latin America. Since the EIB started working there in 1997, it has provided over €5.7 billion to finance investments which represents around 35% of the EIB’s portfolio in Latin America.
About Neoenergia
A publicly traded company with shares (NEOE3) traded on the São Paulo Stock Exchange. Part of the Spanish Iberdrola group, the company has been operating in Brazil since 1997 and is currently one of the leaders in the country's electricity sector. Present in 18 states and the Federal District, its businesses are divided into the areas of generation, transmission, distribution, and commercialization. Its distributors, Neoenergia Coelba (BA), Neoenergia Pernambuco (PE), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS) and Neoenergia Brasília (DF) serve approximately 17 million customers, equivalent to a population of almost 40 million people.
Neoenergia has 4.2 GW of installed generation capacity, 87% of which is renewable energy. In transmission, there are 5,700 km in operation and 2,600 km under construction. Through the Neoenergia Institute, it promotes socio-environmental actions that contribute to improving the quality of life of the communities where the company operates, especially the most vulnerable people, always aiming for sustainable development. As part of its commitment to increasing women's participation in society, Neoenergia sponsors the Brazilian Olympic Committee (COB), mainly benefiting those who represent Team Brazil. Since January 2021, it has been part of the portfolio of the B3 – Brasil, Bolsa, Balcão – Corporate Sustainability Index, which brings together companies that have the best practices in corporate governance and sustainability.