EQUINOR AND DENHAM CAPITAL TO ACQUIRE RIO ENERGY IN BRAZIL
Equinor has signed an agreement with Denham Capital to acquire Rio Energy, a leading onshore renewables company in Brazil.
Denham Capital is an Energy and Resources Private Equity Firm Investing in Oil & Gas, Power and Mining with offices in Houston, London, Boston, and Perth
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.
The deal is in line with Equinor’s strategy which includes growing its onshore renewables business in select markets through acquisition of local companies with high-quality teams and project pipelines.
Over the last few years, Equinor has invested in several renewables companies, such as Wento in Poland, BeGreen in Denmark, Noriker Power in the UK, and East Point Energy in the US, aiming towards flexible power offering in select markets.