Renova Energia Buys 149.6-MW Solar Duo From European Energy Unit

• Fresh from its restructuring, Renova Energia will purchase the 149.6-MW Boa Hora 4 & 8 solar parks in Pernambuco, strengthening its clean-power pipeline in Brazil.

Renova Energia, the Brazilian renewables developer that wrapped up a six-year court-supervised restructuring in February, has signed a memorandum of understanding to acquire 149.6 MW of photovoltaic capacity from a subsidiary of Denmark-based European Energy. The deal covers the Boa Hora 4 and Boa Hora 8 solar parks, planned for Tacaimbó in Pernambuco state.

Although the price tag remains confidential, Renova says the agreement fits its post-recovery strategy of adding “clean, accessible and reliable” generation to its portfolio. The transaction still requires satisfactory due diligence and the usual regulatory approvals, but management expects closing to follow swiftly once precedent conditions are met.

For Renova, the move is more than just another asset grab. The company emerged from judicial recovery earlier this year after restructuring roughly BRL 3 billion in debt, a process that had weighed on its expansion plans since 2019. Having regained access to conventional financing, Renova is now racing to rebuild scale in Brazil’s increasingly crowded solar market, where investment appetite remains robust despite lingering macro-economic headwinds.

Boa Hora’s two blocks will sit on the sun-drenched Agreste plateau, an area already threaded with transmission lines feeding the country’s northeast-southeast interconnector. Once completed, the parks are expected to deliver enough power to supply more than 230,000 Brazilian homes and to offset roughly 200,000 tonnes of CO₂ annually—figures that dovetail with Brazil’s 2030 emissions-reduction pledge.

European Energy, which will retain other projects in its Brazilian pipeline, welcomed the hand-over as part of its “develop-and-divest” model in new geographies. The Danish firm has been active in Latin America since 2022, banking on local partners to advance green-field sites to shovel-ready status before exiting.

Renova, meanwhile, is already lining up further acquisitions and greenfield builds, with management signalling an ambition to surpass 2 GW of installed capacity within three years. If Boa Hora closes on schedule, construction could break ground in early 2026, allowing first power by the end of 2027—another step toward re-establishing Renova as a heavyweight in Brazil’s fast-evolving renewable landscape.