The European Investment Bank approved a 151mn euro (US$172mn) loan for São Paulo-based EDP Energias do Brasil, controlled by EDP Energias de Portugal, for investments in renewable energy projects in Brazil and Mexico.

The loan will be destined to electricity, gas, steam and air conditioning projects and is part of the bank’s climate action lending objectives.

In total, EDP Brasil plans to invest 2.9bn reais (US$770mn) this year, with increased focus on smart grid, artificial intelligence and solar power generation projects.

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