Neoenergia Pernambuco power distribution network

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This project involves the process of expanding the Pernambuco state power distribution network by the Brazilian sponsor and concessionaire - Neoenergia Pernambuco also known as Companhia Energetica de Pernambuco - CELPE. The sponsor is controlled by the Spanish group Iberdrola. The expansion and modernization of the electricity distribution network in the Brazilian northeast is of crucial importance for the most underdeveloped region in the county with the highest poverty rates. This project will benefit more than 4 million customers. The total project cost is $141.48 million and the Japan International Cooperation Agency provided a $89 million (12 bn Yen) loan and MUFG Bank co-financed $47.97 million. The rest $4.51 million are sponsor's equity contribution. The financial close date is May 11th, 2023. https://www.jica.go.jp/Resource/english/news/press/2023/20230512_31.html