Iberdrola SA, through its Brazilian affiliate Neoenergia SA, has started operations at the 350-MW Baixo Iguaçu hydroelectric facility in Brazil's state of Paraná.
The company invested €500 million in the plant, which will control the water flow of the Iguaçu Falls and supply energy to about a million customers, according to a May 23 news release.
"Over the next five years alone, we are going to invest around €6.5 billion in new projects in Brazil to continue improving country's electricity supply and, thus, its competitiveness," said Iberdrola Chairman and CEO Ignacio Galán.
Iberdrola now has an installed capacity of more than 3,700 MW in Brazil. Including projects under construction, the capacity reaches about 5,000 MW.