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July 15, 2026
Picture of an electricity facility

FinDev Canada provides a USD 30 million loan to Equatorial Maranhão Distribuidora de Energia S.A. and mobilizes private capital to expand energy access in Brazil

Press Release

FinDev Canada announces the signing of a USD 50 million financing package with SMBC to Equatorial Maranhão Distribuidora de Energia S.A. (or Equatorial Maranhão), an electricity distribution company serving nearly three million customers in Maranhão, Brazil.
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Summary of Anticipated Development Impacts

MARKET DEVELOPMENT

  • Increase access to electricity, including in rural areas, and improve electricity reliability: While 99% of Brazil’s population is electrified, remote communities, including some in Maranhão, have limited or no access to electricity1. To this end, a portion of FinDev Canada’s proceeds will support the expansion of Equatorial’s distribution system, anticipated to support new customer connections, including in rural municipalities. 
  • Improve the reliability of electricity distribution services: The remaining proceeds will be directed to support improvements in the reliability of electricity services by enhancing the network’s operations and equipment with the intention to lower the frequency and duration of system interruptions and reduce technical losses.
1Global Energy Alliance for People and Planet, 2024. LAC-UAC-Brazil-Deep-Dive-1.pdf 

MARKET DEVELOPMENT

Improve the reliability of electricity distribution services

The transaction will enhance the network’s operations and equipment with the intention to lower the frequency and duration of system interruptions and reduce technical losses.

GENDER EQUALITY

  • Support women’s participation in the energy sector: In Brazil, women make up only 16% of the energy sector workforce, highlighting their underrepresentation in the industry2. Equatorial has taken steps to advance gender equality by establishing a Diversity and Inclusion Committee and implementing an electrician apprenticeship program that has supported 332 women, representing 21% of all enrolled trainees. To build on these initiatives, Equatorial has formalized a Gender Action Plan (GAP) to further advance diversity and inclusion within its internship recruitment program, supplier engagement activities and gender-inclusive procurement practices. 
  • 2X-aligned: This transaction is 2X-aligned under the Employment criteria, and through a commitment to the Supply Chain criteria.
2ANEEL, 2025. Women in energy: challenges and achievements in the renewable sector
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