Equinor acquires Rio Energy from Denham Capital

Denham Capital has declared the sale of Rio Energy assets to Equinor, a Norway based energy company. The transaction includes the Rio Energy assets, management team platform and trade name. Denham Capital will continue to own 1.1 GW of Rio Energy’s assets despite the asset sale.

The acquired assets consist of the 600 MW pre-construction solar PV portfolio, 200 MW Serra da Babilonia 1 onshore wind farm in Bahia, and a project pipeline of 1200 MW of onshore wind and solar projects. In addition to this, the company will keep 400 MW of onshore wind and solar projects and 200 MW of Caetite Norte onshore wind project. Furthermore, Equinor will acquire full ownership of Rio Energy.

In January 2023, Equinor and BP joined forces to bid in New York’s third offshore wind solicitation (NY3), and submitted a request to the New York State Energy Research and Development Authority (NYSERDA).