Equinor acquires Rio Energy in Brazil.

Equinor strengthens its leading position in renewable energies in Brazil with the acquisition of Rio Energy, helping to support the country's ambitions for a diversified energy mix and rapid growth in the deregulated market.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

The transaction includes selected assets and the team, while Denham Capital will retain certain assets. With the acquisition, Equinor strengthens its position as a major energy company in the Brazilian market.

Equinor becomes a leader in renewable energies in Brazil

“With Rio Energy, Equinor will take a leading position in Brazil’s fast-growing renewable energy industry. It accelerates production and cash flow, provides us with a solid platform for growth, and adds attractive capacity and project portfolio,” says PÃ¥l Eitrheim, Equinor’s Executive Vice President for Renewables.

The agreement is in line with Equinor’s strategy of developing its onshore renewable energy activities in selected markets through the acquisition of local companies with high-quality teams and project pipelines. In recent years, Equinor has invested in several renewable energy companies, such as Wento in Poland, BeGreen in Denmark, Noriker Power in the UK and East Point Energy in the USA, with the aim of offering flexible energy in certain markets.

“Rio Energy’s presence on board will strengthen Equinor’s ability to further develop the portfolio and reinforce our position as a major energy company in Brazil. By establishing an attractive renewable energy position in the country, as well as a strong oil and gas portfolio, we are supporting Brazil’s ambitions towards a diversified energy mix,” says Veronica Coelho, head of Equinor in Brazil.

Equinor bets on Brazilian electricity market with acquisition of Rio Energy

Following the transaction and the exclusion of certain assets by Denham Capital, Equinor will hold a 100% interest in Rio Energy, retaining the current management team and a total of around 140 employees. The acquired portfolio includes the 0.2 GW Serra da Babilonia 1 onshore wind farm in the northeastern state of Bahia, a 0.6 GW pre-construction solar photovoltaic portfolio and a pipeline of around 1.2 GW of onshore wind and solar projects.

Rio Energy will be a wholly-owned subsidiary of Equinor, and the team and management will continue to develop its existing portfolio. The portfolio of projects acquired is expected to generate a real base return of 4% to 8% for renewable energy projects, including the acquisition price. The energy produced is to be managed on the Brazilian market by the energy trading company Danske Commodities (DC). DC recently set up a sales office in São Paulo to support Equinor’s business in the country.

“Brazil is the largest electricity market in South America, with expected growth in demand and rapid expansion of the deregulated market. By creating a power portfolio in Brazil, managed by DC, we can drive value in line with our market-driven power generation strategy,” says Olav Kolbeinstveit, Equinor’s Senior Vice President for Onshore Markets and Renewables. The transaction is subject to the relevant regulatory approvals.

The Trump administration plans to revoke federal approval of the New England Wind project, jeopardising offshore wind contracts representing 2,600 MW of capacity off the northeastern US coast.
Orsted and two U.S. states have taken federal legal action to contest the abrupt halt of the Revolution Wind project, a $5 billion offshore venture now at risk of prolonged suspension.
SPIE Wind Connect will carry out subsea connections for phase II of the TPC project, a major development in Taiwan’s offshore wind sector with a projected annual capacity of 1,000 GWh.
Envision Energy launches its first project in Turkey in partnership with Yildizlar Group, adding 232 MW to the national wind capacity in Karaman province.
ABO Energy maintains its annual targets despite a drop in half-year profit, relying on cost-cutting measures and early project sales to secure cash flow.
Energiekontor has closed financing for two wind projects in Verden, with a combined 94 MW, with construction starting this year and commissioning scheduled for 2027.
South Korea has rejected all projects using foreign turbines in its 2025 offshore wind auction, marking a strategic shift in favour of local industry and energy security.
The Danish Energy Agency confirmed the rejection of 37 feasibility study permit applications, citing European Union state aid rules and lack of competition.
With an AUD$3 billion investment, ACEN launches one of Tasmania’s largest private projects, aiming for commissioning in 2030 and annual supply for 500,000 households.
In France, a 12.9 MW wind farm financed by local actors has been commissioned in Martigné-Ferchaud, showcasing an unprecedented model of shared governance between citizens, local authorities and public investment companies.
The governors of five states urged the Trump administration to maintain permits for threatened offshore wind projects, citing massive investments and jobs at stake in a nascent industry.
Green Wind Renewables is developing a 450 MW wind farm in the Wheatbelt region of Australia, with up to 75 turbines and an estimated annual output of 1.5 TWh.
German group RWE has commissioned five new power plants in France, adding 83 MW to its portfolio, following repeated successes in tenders organised by the Energy Regulatory Commission.
Chinese manufacturer Dongfang Electric has installed a 26 MW offshore wind turbine in Shandong province, setting a double world record for power and rotor diameter.
Facing unforeseen cost increases and a tightening regulatory environment, Mitsubishi Corporation is pulling out of three offshore wind projects, casting doubt on Japan's renewable energy ambitions.
With 323 millions USD in cash, Polenergia strengthens its investments in offshore wind, solar and storage, targeting more than 2.3 GW of new energy capacity in Poland.
French group Valorem has commissioned the ViIatti wind complex in Finland, made up of two farms totalling 313 MW and an estimated annual output of 1 TWh.
The Revolution Wind project, already 80% complete, has been halted by the U.S. administration over national security concerns, creating major uncertainty in the sector.
Quebec funds a mobile training unit to address the shortage of wind turbine maintenance technicians, estimated at 400 positions by 2029.
The United States Department of Commerce is assessing the strategic impact of wind turbine imports amid rising tariffs and supply chain tensions.

Log in to read this article

You'll also have access to a selection of our best content.