Despite having one of the world’s cleanest energy mixes, Brazil’s wind and solar developers are slashing jobs, restructuring debt, and suing regulators as curtailments and high rates squeeze margins. (Bloomberg)
Grid operators are cutting daytime renewable output due to transmission constraints, with new rules limiting reimbursement to just 3% of lost revenue, down from full recovery under a prior law. Curtailed output is projected to rise through 2029.
With battery auctions delayed and new transmission years away, some firms are exploring asset sales, while others are shutting down altogether. One analyst summed it up: “The patient is in the ICU.”