Denham Capital establishes renewable platform in Brazil
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
Denham Capital, a global energy transition investment firm, has completed a transaction with Equinor for the sale of certain Rio Energy assets, the Rio Energy trade name, and the management team platform. Denham Sustainable Infrastructure (DSI) has established a new renewable energy developer and operator, Pontal Energy, to manage the continued growth of the assets and pipeline retained by Denham in the transaction. The launch of Pontal Energy and the appointment of its management team strengthens DSI’s footprint in the region as an experienced investor in Brazilian sustainable infrastructure.
Pontal Energy will operate a large portfolio of renewable energy assets, managing around 1 GW of renewable capacity, enough to power 750 000 homes in the region. This includes three operational onshore wind projects: the 0.1 GW Caetité project, the 0.2 GW Itarema project, and the 0.2 GW Serra da Babilônia 3 project. It also retains the c. 0.2 GW in construction Caetité Norte onshore wind project, and c. 0.3 GW of onshore wind and solar pipeline projects.
DSI has established a management team for Pontal Energy, appointing Gustavo Ribeiro as CEO. Gustavo brings over 18 years of experience in Brazilian infrastructure and power markets and was previously CEO and Board Member of Ibitu Energia. He has overseen the development of more than 6 GW 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 Chairperson Ana Marta Veloso will continue as Chair for Pontal.
DSI’s investment and support helped to grow Rio Energy into a key renewable energy platform for Brazil, creating a substantial portfolio of onshore wind projects and an attractive pipeline of onshore wind and solar developments, generating clean, low-cost energy. The launch of Pontal Energy marks a continuation of Denham’s support for Brazil’s rapid energy transition. The country is leading the way in renewables development, generating nearly 90% of its electricity from clean sources in 2022.
“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 CEO, we are looking forward to further supporting the development of renewable energy in the region,” said Sarah Lane, Managing Director, at Denham Sustainable Infrastructure.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Autumn 2023 issue
The Autumn 2023 issue of Energy Global hosts an array of technical articles focusing on green hydrogen, wind installation technology, blade monitoring solutions, and more. This issue also features a regional report looking at some key renewables projects in Australia..
Read the article online at: https://www.energyglobal.com/other-renewables/09112023/denham-capital-establishes-renewable-platform-in-brazil/
You might also like
Lantana Capital announces auction of Heliosphera SA solar panel factory in Greece
Lantana Capital Ltd has been appointed as the mandated sell-side advisor for the public auction of Heliosphera SA's bankrupt solar panel factory in Tripoli, Greece.