Equinor acquires Rio Energy, a Brazilian renewable energy company, with selected assets

(TN) Equinor signed an agreement with Denham Capital to acquire Rio Energy, a leading company in onshore renewable energy in Brazil.

The transaction includes selected assets and employees, while Denham Capital will retain certain assets. With this acquisition, Equinor reinforces its position as an energy company in the Brazilian market.

“Through Rio Energy, Equinor will assume a relevant position in the Brazilian renewable energy sector, a robust and fast-growing sector. Rio Energy will allow us to accelerate the generation of renewable energy and, consequently, cash flow. With it we now have a platform for growth, while adding technical capacity and an attractive portfolio of projects”, says Pål Eitrheim, Executive Vice President for Renewable Energy at Equinor.

The operation is in line with Equinor’s strategy, which includes the growth of the onshore renewable energy business in selected markets through the acquisition of local companies with highly technically capable teams that already have a portfolio of projects. In recent years, Equinor has acquired several renewable energy companies, such as Wento in Poland, BeGreen in Denmark, Noriker Power in the UK and East Point Energy in the US, with the aim of offering flexible energy in priority markets for renewable energy. company.