Denham Capital has sold a Brazilian renewables company to Equinor and has carved out a new 1GW renewables platform, Pontal Energy.
The sale covers certain Rio Energy assets, the Rio Energy trade name and the new platform, spun-out from Rio Energy, which Denham Capital’s Sustainable Infrastructure team will manage.
Pontal Energy will oversee the continued growth of the assets and pipeline retained by Denham in the transaction, amounting to 1GW of capacity.
Pontal Energy’s platform includes three operational wind farms, comprising the 100MW Caetité asset, the 200MW Itarema scheme and the 200MW Serra da Babilônia 3 site.
It also retains the 200MW Caetité Norte wind farm under construction and 300MW of wind and solar pipeline projects.
DSI has established a management team for Pontal Energy, appointing Gustavo Ribeiro (pictured) as chief executive.
He has overseen the development of more than 6GW of power projects in the region.
DSI will have close oversight at the board level, including board representation from Brazilian energy market experts.
Long-standing Rio Energy chair Ana Marta Veloso will continue as chair for Pontal.
Denham Sustainable Infrastructure managing director Sarah Lane said: “The launch of Pontal Energy is a testament to Denham Sustainable Infrastructure’s commitment to Brazil’s clean energy sector.
“With the support of our trusted regional experts and the appointment of Gustavo Ribeiro as chief executive, we are looking forward to further supporting the development of renewable energy in the region.”
Ribeiro added: “As the newly appointed chief executive of Pontal Energy, I’m thrilled to lead an organisation supported by the vision and expertise that Denham Sustainable Infrastructure provides.
“With a substantial portfolio of renewable energy assets, including operational wind projects and a promising pipeline, we are dedicated to delivering clean power to the region.”