# Iberdrola and GIC form strategic alliance for transmission networks in Brazil

Iberdrola signed a strategic agreement with GIC to co-invest in Brazilian transmission networks for 2.4 billion Brazilian reais (€430 million). The partners will co-invest in operational assets and sign a framework agreement to jointly participate in future tenders.

- Type: Partnership
- Announced: 2023-04-26
- Where: Brazil
- Value: $430.0M (2.40B BRL)
- Status: announced
- Capacity: 1,865 km of transmission lines (operational); 6,279 km (under construction/operation)
- Products: transmission lines, electricity transmission networks
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Iberdrola](https://endata.com/companies/3003.md) (partner)
- [GIC](https://endata.com/companies/7738.md) (partner)

## Sources

- [iberdrola.com](https://www.iberdrola.com/press-room/news/detail/iberdrola-enters-strategic-alliance-GIC-for-expansion-transmission-networks-in-brazil), 2023-04-26: "Iberdrola has signed a strategic agreement with GIC, a leading institutional investors, for the development of transmission networks in Brazil for 2.4 billion Brazilian reais - 430 million euros."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.