EDP and IFC deepen partnership to expand energy access, support jobs and growth in Latin America
IFC (International Finance Corporation), a member of the World Bank Group, recently announced two investments totaling $301 million with global energy company EDP to support clean energy generation in Mexico and electricity grid upgrades in Brazil. These two investments will improve electricity access and supply for approximately 200,000 people, support the creation of over 4,400 jobs combined, and reduce carbon emissions by an estimated 297,000 tons of carbon dioxide equivalent per year.
In Mexico, IFC provided a $222 million loan to support the development of a 200-megawatt solar photovoltaic power plant. IFC's investment is part of a $444 million financing package that supports EDP's renewable energy operations globally. Half of the financing is provided by Instituto de Credito Oficial (ICO), Spain's state financial agency.
In Brazil, IFC invested about $79 million to help EDP Espírito Santo, the state's largest electricity distributor, modernize and expand its power grid. The investment will support more reliable electricity services for over 1.8 million customers and was made alongside local institutional investors. Through its subsidiary in Brazil, EDP has also been an active participant in the IFC Future Grids Alliance, an advisory and knowledge-sharing program led by IFC to accelerate critical investments in grid modernization and reliability in emerging markets.
"These investments reflect EDP’s commitment to accelerating the energy transition while creating tangible benefits for communities and local economies. Through our long-standing partnership with IFC, we are expanding access to reliable, affordable and clean energy, supporting the modernization of critical infrastructure, and helping create the conditions for sustainable growth and job creation. Together, we are mobilizing capital where it can have the greatest impact, building a more resilient and inclusive energy future”, said Rui Teixeira, EDP Group’s Chief Financial Officer.
“IFC's two recent transactions with EDP mark a significant step in deepening a long-term strategic partnership to deliver critical energy solutions amid rapidly growing global power demand," said Ines Rocha, IFC Division Director, Western Europe, Central and Eastern Europe, Ukraine & Moldova. “By bringing together IFC’s financing and global expertise with EDP’s industry leadership, we are expanding access to reliable energy that supports jobs, productivity, and economic growth for businesses and communities.”
Countries need enough power to run industries, support services, and compete globally. Emerging economies will make up almost two-thirds of global electricity demand by 2035. Meeting that demand will require annual investment in electricity generation in developing countries to more than double to $630 billion—with more than half needing to come from the private sector. Over the last 10 years, the World Bank Group has committed nearly $100 billion to energy.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
About EDP
EDP is a global leader in the energy sector, with operations across Europe, North America, South America, and Asia-Pacific. The group operates through four main platforms (Renewable Generation Assets, Networks, Customer Solutions, and Global Energy Management) and relies on the talent of around 12,000 employees worldwide. The group is one of the world’s largest energy producers, with a distinctive global portfolio of onshore and offshore wind, solar, and hydropower assets, totaling approximately 30 GW of installed capacity. EDP continuously leverages this portfolio to accelerate the deployment of renewable technologies, including the hybridization of renewable assets, energy storage, and green hydrogen, while also strengthening its network infrastructure, a key enabler of the energy transition. EDP is proud to be one of the greenest utilities in the world, already generating more than 90% of its electricity from renewable sources.
In South America, EDP operates across the power generation, transmission, distribution, and energy retail segments, as well as in the development, construction, and maintenance of wind and solar assets. In Brazil, EDP is celebrating 30 years of operations and provides energy solutions for the B2B market, including distributed solar generation and energy sales in the free energy market. Its distribution networks serve approximately 4 million customers in the states of São Paulo and Espírito Santo. For more information, visit www.edp.com
About ICO
Instituto de Crédito Oficial (ICO) is the national promotional bank of Spain, attached to the Ministry of Economy, Trade and Enterprise. As a public financial institution, ICO uses its own resources to provide financing for both SMEs and large investment projects and contributes to sustainable growth by promoting economic activities that, due to their social, cultural, innovative or environmental importance, are worthy of promotion and development. In 2025, the ICO Group approved €10.3 billion in financing and investment operations, representing an increase of more than 13% compared with 2024. This strong performance reinforces ICO’s role as a key investment catalyst, capable of supporting long-term strategic projects, complementing private-sector financing, and contributing to a more resilient, competitive, and productive economy. For further information, please visit the ICO website www.ico.es