Equinor acquires Brazilian onshore developer Rio Energy

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Equinor has signed an agreement with Denham Capital to acquire Rio Energy, a leading onshore renewables company in Brazil.

The transaction includes selected assets and the team, while Denham Capital will retain certain assets. With the acquisition, Equinor strengthens its position as a broad energy company in the Brazilian market. “Through Rio Energy, Equinor will take a leading position in the rapidly growing Brazilian renewables industry. It accelerates production and cash flow, gives us a strong platform for growth, and adds capabilities and an attractive project pipeline,” says Pål Eitrheim, Equinor’s executive vice president for Renewables. The deal is in line with Equinor’s strategy which includes growing its onshore... ... More: Official Press Release Equinor

Keywords:

Equinor, Rio Energy, onshore, Brazil, renewables, Denham Capital, production, wind farm, developer, portfolio