Equinor Expands Brazil Renewables With 230 MW Wind Acquisition

By Charles Kennedy - Mar 24, 2026

Equinor has acquired the ready-to-build 230 MW Esquina do Vento onshore wind complex in Brazil from Vestas, marking a further expansion of its renewable footprint in one of its core international markets.

The project, located in Rio Grande do Norte, will feature 51 Vestas turbines and is expected to generate around 1 TWh annually - enough to power roughly 520,000 Brazilian households. Construction is scheduled to begin in the second quarter of 2026, with commercial operations targeted for 2028.

The asset will be developed and operated by Rio Energy, Equinor’s wholly owned Brazilian renewables subsidiary.

The acquisition reinforces Equinor’s push to build integrated, multi-technology power portfolios that combine renewable generation, energy trading, and operational capabilities. The company expects the project to deliver double-digit returns, underlining the commercial viability of its Brazil strategy.

By pairing wind assets with solar generation and leveraging its trading arm, Danske Commodities, Equinor aims to optimize power output, reduce intermittency risks, and improve grid utilization. Electricity from the project will be traded in Brazil’s domestic power market, strengthening the company’s end-to-end value chain.

The addition of Esquina do Vento will expand Equinor’s operational and equity-based renewable capacity in Brazil, which currently stands at around 600 MW.

Key assets include:

• The fully owned Serra da Babilônia wind (223 MW) and solar (140 MW) complexes in Bahia
• Stakes in the Apodi solar project (162 MW) and the Mendubim solar complex (531 MW), operated by Scatec

With the new project, Equinor’s onshore renewables platform—anchored by Rio Energy—continues to scale as a central pillar of its broader energy transition strategy.

Brazil has emerged as a major growth market for renewable energy developers due to its strong wind and solar resources, expanding electricity demand, and increasingly liberalized power markets.

Equinor’s move reflects a broader trend among oil and gas majors diversifying into integrated power businesses, particularly in high-growth emerging markets. By combining renewables with trading capabilities, companies are seeking to capture additional value beyond generation alone.

The use of long-term service agreements with OEMs like Vestas - here through a 30-year operations and maintenance contract - also highlights a shift toward risk-managed project structures that support predictable returns.

Equinor’s continued investment in Brazil signals confidence in the country’s renewable sector and its role as a long-term growth engine. With a pipeline of additional onshore opportunities under development, the company appears poised to further expand its integrated power model in Latin America.

As global energy companies recalibrate portfolios toward lower-carbon assets, Brazil’s scale, resource base, and market structure are positioning it as a strategic battleground for renewable investment.

By Charles Kennedy for Oilprice.com