SAO PAULO (Reuters) – Brazil’s Neoenergia SA said on Tuesday it has obtained an 800 million-real ($159.89 million) financing from World Bank’s private investment arm, International Finance Corp (IFC), for power distribution subsidiary Elektro.
The agreement was dubbed a “green financing” linked to Elektro’s ESG goals, such as the number of female electricians working at the company and the level of digitalization of its network, according to a securities filing.
The goals will be measured in 2027 and there will be a step-down in debt spread in the event they are achieved, said Neoenergia, which is controlled by Spain’s Iberdrola SA. The deal will mature in eight years, it added.
($1 = 5.0033 reais)
(Reporting by Leticia Fucuchima; Editing by Chizu Nomiyama)
