Iberdrola awarded 295 MW of wind in Brazilian auction
Spanish utility Iberdrola has secured 295 MW of wind power capacity in a Brazilian auction, which saw more than 3,841 MW of clean power supply contracts awarded. The deal will see Iberdrola's subsidiary, Neoenergia, develop and bring online nine wind farms in the state of Paraiba by January 2022, increasing Neoenergia's wind capacity to over 800 MW. The project represents Iberdrola's first major step in Brazil after merging Neoenergia with its Brazilian unit Elektro earlier this year.
Through its subsidiary Neoenergia, Spanish utility Iberdrola (BME:IBE) has secured 295 MW of wind power capacity in the Brazilian auction this week.

Neoenergia will construct nine wind farms in the Santa Luzia area of the northeastern state of Paraiba and bring then online by January 2022. These projects will increase Neoenergia's wind capacity in operation or under construction to over 800 MW.

Iberdrola said this is its first major step in Brazil after completing the merger of Neoenergia with its Brazilian unit Elektro earlier this year. Neoenergia recently cancelled plans for an initial public offering (IPO).

Brazil awarded more than 3,841.6 MW of clean power supply contracts in the tender. Wind power was the biggest seller with over 1,386.6 MW across 49 projects, led by Enel SpA (BIT:ENEL) with some 618 MW.

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