The U.S. International Development Finance Corporation (DFC) has reached financial close on a $267 million investment to support the installation and management of smart-city infrastructure in Rio de Janeiro.
The modernization will focus on upgrading the city to climate-friendly infrastructure that will significantly reduce the city’s public consumption of electricity and promote cost savings, while enhancing reliability and resilience. DFC aims to roll this out by September 2022, aiming for a reduction of 70,000 tons per year of carbon emissions, and energy savings of 60 percent per year compared to the current system.
The project will also add 5,000 public Wi-Fi access points connecting 6,000 smart traffic lights and installing other forms of smart-city infrastructure. Around 74 percent of the public-lighting modernization will be focused on neighborhoods below the city’s weighted average-income level, ensuring equitable distribution of the project’s work throu
