Denham Capital has penned an agreement to sell Rio Energy assets, the Rio Energy trade name, and the management-team platform to Equinor. Financial terms were not disclosed.
Rio Energy, a developer, owner and operator of renewable-energy projects in Brazil, delivers low-cost, sustainable power across Brazil. Denham Sustainable Infrastructure’s investment and support has made Rio Energy into a significant renewable-energy platform in Brazil, creating a substantial portfolio of operational and under-construction onshore wind projects, as well as a pipeline of onshore wind and solar projects.
After the transaction, Rio Energy companies operating under the Rio Energy trade name will be fully owned by an Equinor subsidiary, and about 140 of Rio Energy’s employees will continue to manage and develop the portfolio. The acquired portfolio consists of Serra da Babilônia 1 onshore-wind farm that produces 0.2 gigawatts in the northeastern state of Bahia; a pre-construction s