The chairman of Spanish electric utility Endesa, Borja Prado, inaugurated Latin America's first energy-efficient "smart city" in the Brazilian municipality of Buzios, the company said Wednesday.

Smart City Buzios will offer residents time-differentiated electricity rates, a "more sustainable" lighting system and more energy-efficient public buildings, the company said in a statement.

Buzios is a coastal tourist city 170 kilometers (105 miles) from Rio de Janeiro and is home to approximately 28,000 residents.

Endesa Brasil's electricity distribution subsidiary, Ampla, developed the initiative over the past three years at a cost of 40 million reais ($20 million).

In addition to recharging infrastructure for e-vehicles and solar and wind microgeneration points, Endesa installed remote-controlled LED lamps, a free WiFi system, a recyclable waste pick-up station and energy-efficient showers at beaches.

Endesa and its parent company, Italy's Enel, have developed similar projects in Barcelona and Malaga, Spain, and the Italian cities of Turin, Genoa and Bari, while another project in Latin America is in the works in the Chilean capital. EFE