Equinor has acquired the ready to build 230 MW Esquina do Vento onshore wind complex from Vestas. With this investment Equinor expands its broad energy offering in Brazil, further strengthening its integrated power portfolio for long-term growth in one of the company’s core markets.
The 51 turbine complex is located in the state of Rio Grande do Norte.
The acquisition, conducted by Equinor’s fully owned subsidiary Rio Energy, supports Equinor’s power strategy to build market-driven, multi-technology portfolios. By combining renewable generation, operational capabilities and energy trading, these portfolios will further enhance value creation. The Esquina do Vento complex is expected to deliver double digit project returns.
“Brazil is a key market for Equinor’s long-term growth. We have a solid and diversified portfolio of oil and natural gas in the country. With this acquisition, we are expanding in renewable energy and strengthening our integrated power portfolio, where wind, solar and trading work together to deliver competitive and reliable power,” says Helge Haugane, executive vice president for Power in Equinor.
Expanding Equinor’s onshore renewables platform
Together, onshore renewables and battery energy storage systems constitute a core building block in Equinor’s power strategy, offering competitive generation and scalability. The acquisition of Esquina do Vento adds to Equinor’s onshore renewables portfolio in Brazil. The complex will be developed and operated through Equinor’s subsidiary Rio Energy, which serves as the company’s vehicle for growth in onshore renewables.
“We are ready to build the Esquina do Vento complex that comprises 51 Vestas wind turbines and will add around 230 MW of installed capacity in Rio Grande do Norte. With potential annual generation of about 1 TWh, the complex represents a substantial addition to wind power 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 footprint and reinforces a strong operational platform for long-term renewable energy delivery in Brazil,” says Roberto Colindres, CEO of Rio Energy.
This investment is in line with Equinor’s strategy of building an integrated power business, combining wind and solar assets in the same market, reducing intermittency, optimising grid utilisation and improving the overall value of the power portfolio.
Integrated value chain and route to market
Power produced from Equinor’s onshore assets in Brazil will be traded in the local power market by Danske Commodities, Equinor’s wholly owned energy trading house.
“Brazil is a core market for Equinor, and Esquina do Vento strengthens our long-term commitment to building a robust and competitive power business in the country through our subsidiary, Rio Energy. By investing in this renewable complex, we are expanding our energy offering and future opportunities for integration and trading across assets and energy sources. This integrated approach supports Brazil’s growing demand for reliable, renewable energy while creating long-term value locally,” says Veronica Coelho, senior vice president and country manager for Equinor Brazil.
Equinor has a long-standing presence in Brazil, with a broad portfolio spanning oil and gas, renewables and power trading.
