LatinNews Daily - 25 July 2018

* In an interview with local media, Sandro Kolher Marcondes, the director of finance and investor relations at Brazilian energy firm Neoenergía (owned by Spain’s Iberdrola), said that the firm plans to invest some US$6.75bn in upgrading its distribution networks and electricity generating facilities in 2018-2022. Kolher said that this was the “minimum investment” that the company would make and that the amount could increase because it does not include any potential “acquisitions of assets in Brazil”. The comments were made following a presentation of the company’s results before an audience of stock exchange analysts. Of the planned investment, US$5.1bn will be allocated for the distribution sector, Neoenergía’s principal area of business in Brazil, with the majority of the rest to be invested in new generators. The company is currently the second largest energy distributor in the country, it has 13.6m consumers and is responsible for distributing electricity to 34m people, equivalent to 20% of the population.  

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