Iberdrola Seeks 100% of Neoenergia to Strengthen Brazil Operations and Clean Energy Expansion

Spanish energy giant Iberdrola has launched a takeover bid to acquire the remaining 16.2% stake in its Brazilian subsidiary Neoenergia, aiming to take full control and delist the company from the market. The announcement was made following Iberdrola’s Capital Markets Day 2025.

The bid matches the price Iberdrola paid for the PREVI stake (30.29%) on October 31, 2025—32.5 Brazilian reais per share, plus official interest calculated from that date according to Brazil’s SELIC rate. The total expected outlay, before interest adjustments and assuming no intermediate dividends, is approximately €1.03 billion.

Neoenergia: Brazil’s Leading Electricity Distributor

Neoenergia is the largest electricity distribution group in Brazil, present in 18 states and the Federal District, serving nearly 40 million customers through five distributors. The company operates 725,000 kilometers of distribution lines and 8,000 kilometers of transmission lines, with 3,800 MW of renewable generation, primarily hydroelectric. Its transmission lines span 18 states, making it Brazil’s leading distribution group by customer base.

Strategic Benefits of Full Ownership

Iberdrola said that acquiring 100% of Neoenergia would simplify its corporate structure, provide greater operational and financial flexibility, and reduce costs associated with maintaining shares on the public market. The company reaffirmed its commitment to Brazil and emphasized that electricity grids, which account for 90% of Neoenergia’s business, remain at the core of its growth strategy in the country.

Iberdrola’s Global Presence

Globally, Iberdrola operates 1.4 million kilometers of transmission and distribution lines across the United States, United Kingdom, Brazil, and Spain, underscoring its position as a leading international electricity provider.

With this acquisition, Iberdrola strengthens its footprint in Brazil, consolidating control over its largest local subsidiary and positioning itself to continue expanding in the country’s renewable energy and electricity distribution sectors.