Iberdrola has announced plans to invest BRL30 billion (approximately US$5.6 billion) in Brazil over the next three years. The announcement came during the unveiling of the Neoenergia Renewable Energy Complex, located in the northeast of the country. The 600 MW capacity complex integrates wind and solar power generation for the first time in Brazil and consists of 15 wind farms with a total of 136 wind turbines and two solar plants. The project will provide clean energy to 1.3 million homes and prevent the emission of over 100,000 tons of CO2 per year.

The investment will be used to continue developing new renewable and grid projects in the country, as well as to take advantage of opportunities offered by technologies like offshore wind power and green hydrogen. 

The Neoenergia Renewable Energy Complex covers 8,700 ha, of which only 14% is currently in use, in the municipalities of Santa Luiza, Areia de Baraúnas, São Jose de Sabugi and São Mamede, in Paraíba state. The project is a major step forward for Brazil's transition to a more sustainable energy system and a major milestone for Iberdrola's continuing efforts to lead the global transition to renewable energy.