Brazil's Neoenergia SA said on Tuesday it has obtained an 800 million-real ($159.89 million) financing from World Bank's private investment arm, International Finance Corp (IFC), for power distribution subsidiary Elektro.
The facade of Neoenergia NEOE3.SA energy company headquarters is pictured in Rio de Janeiro, Brazil July 24, 2019. REUTERS/Ricardo Moraessaid on Tuesday it has obtained an 800 million-real financing from World Bank's private investment arm, International Finance Corp , for power distribution subsidiary Elektro.
The agreement was dubbed a "green financing" linked to Elektro's ESG goals, such as the number of female electricians working at the company and the level of digitalization of its network, according to a securities filing. The goals will be measured in 2027 and there will be a step-down in debt spread in the event they are achieved, said Neoenergia, which is controlled by Spain's Iberdrola SAReporting by Leticia Fucuchima; Editing by Chizu Nomiyama
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