London:
Neoenergia
is
the
leading
power
distributor
in
northeastern
Brazil
with
a
44%
share
of
the
regional
market
at
the
end
of
2009
and
8.8
million
customers.It
has
stakes
in
Rio
Grande
del
Norte
state
distributor
Cosern,
Pernambuco
state
distributor
Celpe
and
Bahia
state
distributor
Coelba.
It
also
controls
over
1GW
of
hydroelectric
generation
assets.
Iberdrola
Renovables'
parent
company,
Iberdrola,
holds
a
39%
stake
in
Neoenergia,
while
Banco
de
Brasil's
pension
fund
Previ
controls
49%
and
Banco
de
Brasil
holds
12%.
The
two
companies
have
signed
a
memorandum
of
understanding…
