"Most companies, including Neoenergia's parent, have affirmed they will continue to invest in Brazil. In fact, he has already provided a figure for the upcoming investments they have planned for Brazil, which is not small; it is a very high figure, which leaves us very satisfied," said Laudemir André Müller.
"The announcement will be made as soon as possible," he added.
According to a source present at the meeting, the figure mentioned by Galán was 20 billion reais (3.988 billion dollars) to be invested additionally in Brazil over the coming years, on top of the 30 billion reais (5.982 billion dollars) already earmarked in the company's strategic planning for 2025 to 2028.
When contacted, Neoenergia declined to comment on the matter.
Iberdrola is the parent company of Neoenergia, which operates an integrated business in the Brazilian power sector, with interests in distribution, generation, transmission, and energy trading.
(1 dollar = 5.0150 Brazilian reais)
(Reporting by Michael Susin; additional reporting by Lisandra Paraguassu in Brasilia; editing by Pedro Fonseca and Roberto Samora; English translation by [Translator Name])
