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AP National

New Zealand is partnering with BlackRock in aim to reach 100% renewable electricity

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Published 7:16 PM

By NICK PERRY
Associated Press

WELLINGTON, New Zealand (AP) — New Zealand’s government says it will partner with U.S. investment giant BlackRock as it aims to become one of the first nations in the world to have its electricity grid run entirely from renewable energy. 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. Some of the investment is expected to come from government-owned companies. New Zealand’s electricity grid already runs off about 82% renewable energy. The government said it aims to reach 100% renewable generation by the end of the decade.

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