Equinor Strengthens Energy Portfolio in Brazil

March 24 (TN) Equinor has acquired the 230 MW Esquina do Vento onshore wind farm complex from Vestas, which is ready for construction. With this investment, Equinor expands its broad energy offering in Brazil, further strengthening its portfolio for long-term growth in one of the company’s key markets.

The complex, which will have 51 turbines, is located in Rio Grande do Norte. The acquisition, conducted by Equinor’s subsidiary, Rio Energy, contributes to Equinor’s Power strategy, focused on building portfolios with diverse technologies and driven by market needs. By combining renewable energy generation, operational expertise, and energy trading, these portfolios will increase value creation. The Esquina do Vento complex is expected to generate double-digit returns.

“Brazil is a key market for Equinor’s long-term growth. We have a solid and diversified oil and natural gas portfolio in the country. With this acquisition, we are expanding our renewable energy operations and strengthening our integrated Power portfolio, in which wind, solar and trading work together to provide competitive and reliable energy,” says Helge Haugane, Senior Vice President for Power at Equinor.

Expanding Equinor’s Onshore Renewable Energy Platform

Together, onshore renewable energy and battery energy storage systems form a fundamental pillar of Equinor’s Power strategy, offering competitive generation and scalability. The acquisition of Esquina do Vento adds to the company’s onshore renewable portfolio in Brazil. The complex will be developed and operated by Rio Energy, an Equinor subsidiary that acts as the company’s growth vehicle in onshore renewables.

“We are ready to build the Esquina do Vento complex, composed of 51 Vestas wind turbines, which will add approximately 230 MW of installed capacity to the state of Rio Grande do Norte. With a potential annual generation of approximately 1 TWh, the complex represents a substantial increase in wind energy production in the region. Together with Serra da Babilônia, our 363 MW hybrid wind/solar complex in Bahia, Esquina do Vento increases Rio Energy’s onshore wind activity, strengthening it as a robust operational platform to provide long-term renewable energy in Brazil,” says Roberto Colindres, CEO of Rio Energy.

This investment is in line with Equinor’s strategy of building an integrated energy portfolio, combining wind and solar power generation assets in the same market, reducing intermittency, optimizing grid utilization, and enhancing the overall value of the energy portfolio.

Integrated Value Chain and Market Approach

The energy produced by Equinor’s onshore assets in Brazil will be traded in the local market by Danske Commodities, a wholly-owned energy trading company.

“Brazil is a strategic area for Equinor, and Esquina do Vento reinforces our long-term commitment to building a robust and competitive energy business in the country through our subsidiary Rio Energy. By investing in this renewable complex, we are expanding our energy supply and future opportunities for integration and trading between assets and energy sources. This integrated approach supports Brazil’s growing demand for renewable and reliable energy, while generating long-term value locally,” says Veronica Coelho, president of Equinor in Brazil.

Equinor has a consolidated presence in Brazil, with a broad portfolio encompassing oil, gas, renewable energy, and energy trading.

Equinor’s Renewable Energy Portfolio in Brazil

Equinor’s Power portfolio currently in commercial operation in Brazil totals approximately 600 MW of equity capacity, to which the Esquina do Vento complex will add 230 MW of installed capacity:

• Serra da Babilônia 1 onshore wind farm (223 MW) and Serra da Babilônia solar complex (140 MW), in the state of Bahia, are operated by Equinor’s subsidiary, Rio Energy, and are wholly owned by Equinor.
• Equinor is also a partner in the Apodi solar complex (162 MW), in the state of Ceará, and in the Mendubim solar plant complex (531 MW), in the state of Rio Grande do Norte. These assets are operated by Scatec, with Equinor holding 43.5% and 30% stakes, respectively.

In addition, there is a pipeline of onshore renewable opportunities being developed by Rio Energy.

Danske Commodities, a trading company wholly owned by Equinor, through its São Paulo office, supports Equinor’s market-oriented approach to building a value-creating energy portfolio in Brazil.