The newly appointed Pontal leadership team will be headed by Gustavo Ribeiro as CEO. Credit: Tyler Casey/Unsplash.

Private equity firm Denham Capital has launched a new Brazilian renewables developer and operator, Pontal Energy, after finalising the divestment of certain Rio Energy assets to Equinor.

The deal was announced in July 2023, when Equinor acquired Rio Energy’s trade name and management team.

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The new renewables platform set up by Denham Sustainable Infrastructure (DSI) will manage 1GW of clean energy assets and pipelines that were not included in this deal.

This 1GW portfolio can generate sufficient clean energy to meet the needs of 750,000 households in the region.

In the retained portfolio are three operational onshore wind farms: Caetité, Itarema and Serra da Babilônia 3.

Denham has also retained Caetité Norte, an onshore wind project currently under development, and other onshore wind and solar projects in the pipeline.

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The newly appointed Pontal leadership team will be headed by Gustavo Ribeiro as CEO.

Ribeiro has worked for 18 years in the Brazilian infrastructure and power space.

He previously served as Ibitu Energia’s CEO and sat on its board, managing the buildout of 6GW of the region’s power projects.

Ribeiro stated: “As the newly appointed CEO of Pontal Energy, I am 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.”

DSI 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 CEO, we are looking forward to further supporting the development of renewable energy in the region.

“We are excited to build on the success achieved with Rio Energy and maintain a footprint in Brazil’s fast-growing clean energy economy. The launch of Pontal Energy embodies DSI’s value-add strategy to support industry-leading teams to deliver low-cost, sustainable power generation in high-growth economies.”