EIB Global Grants EUR 300 Million to Modernize Bahia’s Electricity Network with Neoenergia Coelba

The electricity distribution network in Bahia will undergo major modernization through a EUR 300 million loan from EIB Global—the development arm of the European Investment Bank Group—to Neoenergia Coelba, which serves more than 6 million customers across 415 municipalities.

The financing will support network expansion, new customer connections, and investment in advanced automation technologies, strengthening the reliability and efficiency of Bahia’s power grid. These upgrades will help improve access to clean energy—particularly for low-income communities—across the state, which has nearly 15 million residents. The project also aligns with Brazil’s long-term goals to boost energy efficiency and increase renewable energy adoption.

The loan, granted under competitive terms, follows rigorous technical and environmental due diligence and is available only to Brazilian companies that meet the highest international standards. During COP30 in Belém, representatives from the EIB and Neoenergia celebrated the partnership, underscoring its alignment with Brazil’s climate ambitions and the EU’s Global Gateway Strategy.

“This investment represents a crucial step towards strengthening Brazil’s energy infrastructure, while supporting our shared global commitment to climate action,” said Ambroise Fayolle, EIB Vice-President. “We are pleased to have the opportunity to support a project that strengthens the private sector, facilitates the connection of communities to renewable energy and sends a clear message about our partnership with Latin America in building a greener and more resilient future.”

“The ceremony held during COP30 reinforces the strategic value of the partnership with the EIB and the alignment with global climate commitments. Thanks to this new project, which is already underway, Neoenergia will be able to intensify its investments in Bahia, with a focus on modernizing the distribution network throughout the state.This initiative will be key to ensuring that renewable energy reaches the communities of Bahia safely and efficiently, while also strengthening our goal of promoting equitable access to clean energy,” added Solange Ribeiro, vice-president of Neoenergia.