Elektro Invests $7 Million in Brazil Energy-Efficiency Measures

Iberdrola SA (IBE)’s Elektro, a Brazilian power distributor, will invest about 16.5 million reais ($6.9 million) in energy-efficiency projects this year.

The unit plans to achieve 26,000 megawatt hours of energy savings in 2014, Elektro said today in an e-mailed statement.

Elektro, which operates in 228 cities, will spend more than 10.5 million reais on projects in low-income neighborhoods, such as replacing fridges and showers, according to the statement. The company will also improve energy efficiency of public buildings and fund educational programs.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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