Equinor ASA (NYSE:EQNR) said Monday it has acquired the 230-megawatt Esquina do Vento onshore wind project from Vestas Wind Systems A/S. The deal expands its integrated power portfolio in Brazil.

Details

The project is in Rio Grande do Norte. It includes 51 wind turbines. Equinor will develop it through its subsidiary, Rio Energy. The company expects double-digit returns.

The wind complex could generate about 1 terawatt-hour of power each year. This will add meaningful capacity in the region.

The acquisition supports Equinor's strategy. The company combines wind, solar, and energy trading in one market. This approach helps reduce intermittency and improve grid use. It also supports stronger returns.

Equinor will sell power from the project through Danske Commodities A/S, its energy trading unit.

"Brazil is a key market for Equinor's long-term growth," said Helge Haugane, executive vice president for Power.

The deal also strengthens Equinor's renewable footprint in Brazil. It adds to the Serra da Babilônia wind and solar project in Bahia.

Equinor already has a broad presence in Brazil. Its portfolio includes oil, gas, renewables, and power trading.

Equinor reported approximately $5.04 billion in cash and cash equivalents for the fiscal quarter ending December 2025.

Technical Analysis

EQNR is trading 14.6% above its 20-day SMA and 46.9% above its 100-day SMA, keeping the longer-term uptrend firmly intact even as the stock cools off near the top of its range. Shares are up 54.15% over the past 12 months and are currently positioned closer to their 52-week highs than lows.

Momentum is stretched: RSI is at 73.30, which is overbought, and it first pushed above 70 on 2026-03-11. Meanwhile, MACD is bullish with the MACD line at 3.0770 above the signal line at 2.4460, suggesting trend-followers still have the edge.

With RSI over 70 alongside a bullish MACD, the setup points to mixed momentum—strong trend conditions, but with pullback risk elevated.

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 29, 2026 (estimated) earnings report.

  • EPS Estimate: 75 cents (Up from 66 cents YoY)
  • Revenue Estimate: $24.58 Billion (Down from $29.60 Billion YoY)
  • Valuation: P/E of 20.3x (Suggests fair valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $33.80. Recent analyst moves include:

  • TD Cowen: Hold (Raises Target to $37.00) (Mar. 20)
  • Jefferies: Hold (Jan. 8)

EQNR Price Action: Equinor shares were down 1.52% at $38.77 during premarket trading on Tuesday, according to Benzinga Pro data.

Photo via Shutterstock