Equinor ASA (NYSE:EQNR) said Monday it has acquired the 230-megawatt Esquina do Vento onshore wind project from Vestas Wind Systems A/S. The deal expands its integrated power portfolio in Brazil.

Details

The project is in Rio Grande do Norte. It includes 51 wind turbines. Equinor will develop it through its subsidiary, Rio Energy. The company expects double-digit returns.

The wind complex could generate about 1 terawatt-hour of power each year. This will add meaningful capacity in the region.

The acquisition supports Equinor's strategy. The company combines wind, solar, and energy trading in one market. This approach helps reduce intermittency and improve grid use. It also supports stronger returns.

Equinor will sell power from the project through Danske Commodities A/S, its energy trading unit.

"Brazil is a key market for Equinor's long-term growth," said Helge Haugane, executive vice president for Power.

The deal also strengthens ...