Iberdrola's president, Ignacio Galán (photo), highlighted the importance of Brazil to the group, long-term investments in the country and the positive expectation regarding the growth of the energy market, in his speech during a panel at the Brazil Investment Forum. 2019, this Thursday, in Sao Paulo.

Given the country's opportunities, Iberdrola, through its subsidiary Neoenergia, foresees investments of R $ 30 billion in the country by 2023 in power generation, transmission and distribution projects.

"Iberdrola and Neoenergia ratify their commitment to the country's growth by continually promoting investments and developing local talent by training their employees. In this way, we generate a driving force for economic activity in the regions where we operate, with the benefit of our customers and society as a whole, "said Ignacio Galán.

The executive estimated that demand for electricity will increase 4% per year over the next five to ten years, according to official data, due to economic and social development and electrification with the advancement of the digital economy.

"Investment in the energy sector, and in particular in electricity, is one of Brazil's main growth drivers in the next decade," Galán told an audience of executives and officials.

For the expansion of the sector to become a reality, he says, it is necessary, however, that regulation remains predictable and that planning is adequate. "Brazil has solid structures, but requires more dynamic licensing processes to anticipate investments," said the president of Iberdrola.

The executive also said that the liberalization of the market constitutes "an additional opportunity" for Brazil. "But it will be very relevant to allow different agents to access end customers to increase the range of products and services available," said the president of Iberdrola, in his speech.

Ignacio Galán also highlighted the importance of Brazil in the group's global strategy and the success of Neoenergia, which this year held its IPO - the largest in the sector since 2004. Iberdrola has been operating in Brazil for 22 years.

Renewables 

Iberdrola's president highlighted the group's progress in focusing its activities on renewable sources, storage, digital networks and consumer solutions, with investments always in line with the UN Sustainable Development Goals. "We have demonstrated that it is possible to combine profitability with respect and promotion of sustainable development," said Galán.

According to Galán, wind and solar energy are expanding strongly, driven by abundant resources in Brazil, which makes room for storage and thermal generation.

"Installing more renewable sources will require increased storage capacity and backup sources. Batteries and gas plants will be needed. To avoid bottlenecks in the past," he said.