BAKU, Azerbaijan, March 24. Norway’s energy major Equinor has acquired the ready-to-build 230 MW Esquina do Vento onshore wind project in Brazil from Vestas, marking a further step in expanding its integrated power business in one of its core growth markets, Trend reports via the company.
The project, located in the northeastern state of Rio Grande do Norte, will feature 51 wind turbines and is expected to generate around 1 TWh of electricity annually.
The transaction was carried out through Equinor’s wholly owned subsidiary Rio Energy and aligns with the company’s strategy of building diversified, market-driven power portfolios that combine renewable generation, operational expertise and energy trading. The project is anticipated to deliver double-digit returns.
“Brazil is a key market for Equinor’s long-term growth,” said Helge Haugane, the company’s executive vice president for Power, noting that the acquisition strengthens Equinor’s integrated portfolio, where wind, solar and trading capabilities are combined to deliver reliable and competitive energy.
Onshore renewables and battery storage form a central pillar of Equinor’s power strategy, offering scalability and cost-efficient generation. The addition of Esquina do Vento further expands the company’s onshore footprint in Brazil, where Rio Energy serves as its main growth platform.
According to Rio Energy CEO Roberto Colindres, the project will significantly boost regional wind power capacity and complement the company’s existing assets, including the 363 MW Serra da Babilônia hybrid wind and solar complex in Bahia.
Equinor said the investment supports its broader approach of integrating wind and solar assets within the same market to reduce intermittency, optimize grid use and enhance overall portfolio value.
Electricity generated by Equinor’s onshore assets in Brazil will be traded on the local market by Danske Commodities, the company’s fully owned energy trading arm.
Senior Vice President and Brazil country manager Veronica Coelho said the acquisition underscores Equinor’s long-term commitment to building a competitive and resilient power business in Brazil, while supporting the country’s growing demand for reliable renewable energy.
Equinor has maintained a strong presence in Brazil for years, with operations spanning oil and gas, renewables and energy trading.