A strong El Niño in late 2026 could push renewable generation curtailment in Brazil to 25%, with solar PV curtailment potentially reaching 40%. Additional thermal dispatch could further increase PV curtailment to 47%, raising financial risks for renewable projects.
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Source
https://www.pv-magazine.com/2026/08/11/el-nino-could-drive-pv-generation-curtailment-to-25-in-brazil-in-2026/Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.