Atlas Renewable Energy Halts $1 Billion Solar Projects in Brazil Due to Grid Issues
Atlas Renewable Energy, backed by BlackRock's Global Infrastructure Partners, has decided to freeze $1 billion in planned solar projects in Brazil. The decision is attributed to high curtailment rates and frequent rejections of renewable power by the national grid operator. Atlas, one of the largest solar power producers in South America, had planned to start construction on 1.5 gigawatts of solar projects in Brazil. However, the growing curtailment rates, which reached about 27% for solar in 2025, have become a significant bottleneck for renewable energy expansion. The company currently has 10 projects in Brazil at various stages of development.