Norway's Statkraft Invests $280M in Brazil Wind Power

One of Europe's largest renewable energy companies just made a powerful bet on Brazil's clean energy future.

Statkraft, Norway's state-owned energy giant, announced it will invest in Gran Sul, a 280 megawatt wind farm in Rio Grande do Sul, Brazil's southernmost state. The project will rise in Santa Vitória do Palmar, an area blessed with some of the strongest and most consistent winds in South America.

Construction begins in January 2027, bringing immediate economic benefits to the region. The company plans to hire local suppliers and create hundreds of jobs in an area that will help power millions of homes with clean electricity.

Brazil has become Statkraft's second most important market worldwide, trailing only its home country of Norway. Since arriving in Brazil in 2008, the company has built an impressive renewable energy empire: 16 hydroelectric plants, 33 wind farms, and 12 solar plants generating over 2,400 MW of clean power.

"Brazil is a strategic market for Statkraft," said Fernando de Lapuerta, the company's Executive Vice President for International. "Gran Sul fits perfectly with our growth strategy and with the development of a competitive renewable portfolio."

The timing couldn't be better. Brazil's electricity demand continues growing as the country develops, and wind energy offers a perfect complement to its existing hydroelectric system. When water levels drop during dry seasons, wind farms keep the lights on.

THE RIPPLE EFFECT

Gran Sul represents more than just clean megawatts. The project signals growing international confidence in Latin America's renewable energy transition at a time when the world desperately needs success stories in climate action.

Statkraft's Brazilian operations already generate 5.9 terawatt hours annually, enough to power roughly 3 million homes. Their largest wind complex, Santa Eugênia in Bahia state, operates 91 turbines producing 519 MW of clean electricity.

The investment also demonstrates that renewable energy makes solid business sense. After acquiring wind developer Enerfin in 2023, Statkraft became one of Brazil's ten largest wind power generators, proving that going green and growing profits aren't mutually exclusive goals.

"This project will contribute to regional development through job creation, hiring of local suppliers, and new long-term investments," said Thiago Tomazzoli, CEO of Statkraft Brazil.

Gran Sul joins a growing wave of wind projects transforming Brazil into a renewable energy powerhouse and showing the world that the clean energy transition is accelerating across Latin America.