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

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

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

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

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