head Iberdrola, Ignacio Sanchez Galanphrase this Wednesday The commitment of the Spanish multinationalDuring the Presidency Luiz Inácio Lula da Silva investments in BrazilIt is building more than 8,000 kilometers” of electricity transmission and distribution lines ($1,900 million per year in Brazil) and expects to maintain this investment rate until 2030.
Galán said, “We are investing at the rate of 10,000 million reais per year. The plan for 2025 envisages an investment of 30,000 to 35,000 reais. (…) The investment rate will most likely continue until 2030 under similar conditions.” He spoke to reporters before the opening. The Spanish executive felt that the business environment in Brazil was conducive to investment and therefore the company would “continue this commitment to the country”. Emphasizing that “Brazil has very solid institutions” and independent institutions, he noted that during Lula’s first two terms (2003-2010), he was “a great supporter of the autonomy” of the Central Bank and regulatory agencies.
Galán also announced on Tuesday that he held a meeting with Finance Minister Fernando Haddad, where he “definitely aims to try to create an environment of stability and predictability”. At that meeting, they talked about tax reform, which the Lula government is trying to promote, and which, as the main economic portfolio minister explained to him, “aims to collect better, not more.”
The purpose of tax reform “reorganize the tax situationMore homogeneous, more understandable, to do something good for companies.” “We are ready to pay our part,” said Galán, explaining that he does not know the details of the reform and does not know whether it will happen. It will affect the accounts of Neoenergia, Iberdrola’s subsidiary in Brazil. Among the company’s upcoming investments Galán said that he will participate in two tenders to be held in June and October for the construction of transmission lines.
renewable complex.
Luiz Inacio Lula da Silva, the same President of Brazil, attended the opening of the Neoenergia Renewable Complex in Santa Luzia (Brazil) with his wife Rosangela da Silva. This is the multinational company’s largest renewable energy project in Latin America, a wind and solar complex in northeastern Brazil with an installed capacity of 0.6 gigawatts. located in the state of Paraíba Santa Luzia complex It required an investment of 3,500 million reals (approximately $6,650 million).
about the situation MexicanGalán, the second stop of the Spanish company’s investments in Latin America, announced that Iberdrola has stopped its new investments due to the political situation. He added, “With the last government and the current government in Mexico, it is not as attractive as it used to be.