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Norwegian energy company Equinor announced the acquisition of Brazilian onshore renewables company Rio Energy from energy transition investment firm Denham Capital.
The agreement includes the sale of the Rio Energy trade name, management team platform, and a project portfolio including the 0.2 GW Serra da Babilônia 1 onshore wind farm, a 0.6 GW pre-construction solar PV portfolio, and a project pipeline of approximately 1.2 GW.
Sarah Lane, Managing Director, Denham Sustainable Infrastructure said:
“The sale of these Rio Energy assets demonstrates Denham’s proven equity investment strategy, delivering sustainable growth alongside value creation in the middle market, and has positioned Rio Energy management for their next phase of expansion to deliver sustainable energy in Brazil.”
Founded in 2012, Rio de Janeiro-based Rio Energy develops, constructs, and operates renewable energy projects, including onshore wind and solar projects in Brazil. Denham will retain 1.1 GW of Rio’s assets.
