Neoenergia Coelba

Neoenergia Coelba - IFC Direct Loan

Borrower (s)
Neoenergia Coelba
Industry
Power/Electricity transmission
Area of finance
Development Bank Finance
Region
Latin America
Countries
Brazil

Deal Overview

IFC has approved a BRL550 million green and sustainability-linked loan to Brazilian energy company Neoenergia Coelba to help expand and strengthen the electricity grid in the Bahia region. The deal is the first to combine green use-of-proceeds with sustainability-linked financing features for a...

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IFC has approved a BRL550 million green and sustainability-linked loan to Brazilian energy company Neoenergia Coelba to help expand and strengthen the electricity grid in the Bahia region. The deal is the first to combine green use-of-proceeds with sustainability-linked financing features for a power distribution company in Latin America.

The funds will be used to upgrade, expand, and digitalise the borrower's distribution network. IFC also acted as sustainability coordinator on the deal and is helping Neoenergia Coelba develop its first sustainability-linked financing framework and establish corporate climate and gender targets, including the aim of reaching 10.7% of female electricians by 2026.

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Deal Volume
$ 115.7m
Financial Close
16 September 2022

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