Denham Capital has completed the sale of a Brazilian renewables company to Equinor and concurrently established a new 1GW renewables platform named Pontal Energy. The transaction encompasses specific Rio Energy assets, the Rio Energy trade name, and the newly formed platform, which Denham Capital's Sustainable Infrastructure team will oversee.
Pontal Energy will be responsible for the ongoing expansion of assets and the pipeline retained by Denham in the deal, totaling 1GW of capacity. The platform includes three operational wind farms: the 100MW Caetité asset, the 200MW Itarema scheme, and the 200MW Serra da Babilônia 3 site. Additionally, Pontal Energy retains the 200MW Caetité Norte wind farm under construction and a 300MW portfolio of wind and solar projects in the pipeline.
Gustavo Ribeiro, a seasoned professional with experience overseeing the development of over 6GW of power projects in the region, has been appointed as the Chief Executive of Pontal Energy. Denham Sustainable Infrastructure (DSI) will maintain close oversight at the board level, with representation from Brazilian energy market experts.
Denham Sustainable Infrastructure Managing Director Sarah Lane stated, “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.”
Gustavo Ribeiro expressed enthusiasm about leading Pontal Energy, emphasizing the organization's dedication to delivering clean power to the region. Long-standing Rio Energy Chair Ana Marta Veloso will continue to serve as the Chair for Pontal Energy, ensuring continuity in leadership.