LatinNews Daily - 24 May 2019

In brief: Brazil

* Ignacio Galán, the president of Spanish energy company Iberdrola, has announced plans to invest €6.5bn (US$7.27m) over the next five years in new electricity projects in Brazil. Galán said this at the inauguration of the Baixo Iguaçu hydroelectric plant in the southern state of Paraná, operated by Iberdrola’s Brazilian subsidiary Neoenergia and Paraná state-owned company Copel. With a generation capacity of 350 megawatts (MW), the Baixo Iguaçu plant will be able to supply one million people with electricity, generating the equivalent of 8% of Paraná state’s annual electricity consumption. Iberdrola has also been keen to highlight the positive social and environmental impact of the new plant, as it will serve to help regulate the flow of the Iguaçu falls, a major tourist attraction on the Brazilian-Argentine border.