Brazil's Neoenergia SA said on Tuesday it secured an 800 million reais ($159.89 million) financing from the World Bank's private investment arm, International Finance Corp (IFC), for power distribution subsidiary Elektro.

The deal was dubbed "green financing," linked to Elektro's environmental, social and governance (ESG) goals, such as the number of female electricians working at the company and the level of digitalization of its grid, according to a securities statement.

The targets will be measured in 2027 and there will be a reduction in the debt spread if they are achieved, said Neoenergia, which is controlled by Spain's Iberdrola SA. The agreement will expire in eight years, it added.

(1 U.S. dollar = 5.0033 reais)

(Reporting by Leticia Fucuchima; edited in Spanish by Benjamín Mejías Valencia)