BlackRock halts large Brazil renewables investments

Atlas Renewable Energy, a subsidiary of BlackRock, has halted its plans to invest one billion dollars in Brazil due to grid restrictions on accommodating renewable electricity. The CEO explained that the national grid operator regularly rejects portions of electricity generated from solar and wind projects, leading to the postponement of projects totaling 1.5 gigawatts. Additionally, forced curtailment has declined by between 15% and 25% in the last quarter, highlighting the pressures facing the renewable energy sector in the country.

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