Neoenergia Lands $155 Million Sustainability-Linked Loan From World Bank’s IFC

Iberdrola and the International Finance Corporation (IFC) have collaborated to support the transition to cleaner and more efficient energy in emerging markets. The partnership includes a new green and sustainability-linked loan of BRL 800 million (equivalent to $155 million) to Neoenergia Elektro, Iberdrola’s Brazil affiliate, which will improve network efficiency and enable more renewable power distribution, ultimately contributing to climate mitigation and adaptation. The loan’s price will depend on Neoenergia Elektro meeting two corporate sustainability targets, such as increasing female electricians and network digitalization. The investment is part of a broader global partnership between Iberdrola and IFC, which aims to promote the energy transition in Brazil, Poland, Morocco, and Southeast Asia, including exploring collaborations on emerging energy solutions like offshore wind and green hydrogen.

resource: https://esgnews.com/neoenergia-lands-155-million-sustainability-linked-loan-from-world-banks-ifc/

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