EDP Espírito Santo will receive approximately US$79 million from the IFC (International Finance Corporation), an institution linked to the World Bank Group, to modernize and expand its distribution network.
The financing, carried out with the participation of local institutional investors, seeks to increase the reliability of energy supply to more than 1,8 million customers in the state.
The investment is part of two deals signed by IFC with EDP, totaling US$301 million, which also include the expansion of renewable energy generation in Mexico.
Together, the projects should contribute to improving access to electricity for approximately 200 people, support the creation of more than 4.400 jobs, and prevent the annual emission of approximately 297 tons of CO₂ equivalent.
financing for solar energy
In Mexico, the IFC granted US$222 million to support the development of a 200 MW photovoltaic plant. This funding is part of a US$444 million package earmarked for EDP's global renewable energy operations.
The other half will be provided by the ICO Institute (Official Credit), a Spanish public financial institution. The two operations combine investments in distribution infrastructure and clean generation, focusing on expanding supply and improving the quality of electricity service.
Partnership and modernization
EDP also participates, through its Brazilian subsidiary, in the IFC Future Grids Alliance. Led by the financial institution, the initiative promotes consulting and knowledge sharing to stimulate investments in the modernization and increased reliability of electricity grids in emerging markets.
According to the EDP Group, the partnership helps direct resources to essential infrastructure and generate economic and social benefits. The company states that it intends to expand access to reliable and clean energy, contributing to job creation and sustainable growth.
The IFC, in turn, believes that cooperation with EDP strengthens the financing of energy solutions in a context of growing global demand for electricity.
According to the institution, emerging economies are expected to account for almost two-thirds of the increase in global demand by 2035.
Meeting this expansion will require more than doubling annual investments in electricity generation in developing countries, to US$630 billion, with more than half of the resources expected from the private sector.
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