The government said it was helping BlackRock launch a $1.2 billion fund to ramp up investments in wind and solar generation, as well as battery storage and green hydrogen. Some of the investment is expected to come from government-owned companies.
New Zealand’s electricity grid already runs off about 82% renewable energy after it damned rivers decades ago to produce hydroelectric power. The government said it aims to reach 100% renewable generation by the end of this decade.
New Zealand partners with BlackRock in aim to reach 100% renewable electricity
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