Venezuela and IMPSA sign deal to revive hydroelectric plants

Venezuela's government, led by acting President Delcy Rodríguez, has signed an addendum to a contract with the Argentine company IMPSA. The agreement, signed at the Miraflores Palace, aims to reactivate and advance critical work on the Tocoma and Macagua hydroelectric plants, bolstering the nation's National Electric System (SEN).

The addendum specifically ratifies the resumption of technical and engineering activities at the Manuel Piar (Tocoma) Hydroelectric Central. It also mandates the execution of maintenance and adaptation works at the Macagua central, both located in Bolívar state. This initiative is seen as crucial for improving the stability, redundancy, and overall power generation capacity of Venezuela's electricity grid.

Jorge Rafael Salcedo, president of IMPSA, lauded the central administration's support for the Tocoma project, describing it as one of the most significant hydroelectric interventions in South America. He expressed confidence in the partnership, stating, "For us, it is a very important vote of confidence that they are giving us, and we are going to execute this project with the greatest efficiency and the highest quality."

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For us, it is a very important vote of confidence that they are giving us, and we are going to execute this project with the greatest efficiency and the highest quality.

Rolando Alcalá, Venezuela's Minister of Popular Power for Electric Energy, highlighted the importance of restarting activities at the lower Caroní River hydroelectric complex. He emphasized that the renewed efforts will contribute to greater stability and capacity in megawatts (MW), supporting the industrial demands of the Guayana region and enhancing national supply. The joint execution by state-owned Corpoelec and IMPSA will adhere to international technical standards, with projections for direct job creation and a progressive increase in the country's energy output.

Construction on Tocoma, part of the Guayana hydroelectric complex, began in 2007. However, works were halted with an estimated 87.19% completion, according to NGO Transparencia Venezuela. Venezuela has grappled with persistent electricity supply failures for years, particularly in remote regions. The government has attributed these issues to foreign sanctions and sabotage, while the opposition and experts point to corruption and a lack of maintenance as primary causes.

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The restart of activities in the hydroelectric complex of the lower Caroní will provide greater stability, redundancy, and capacity in megawatts (MW) to meet the operational demands of the industrial park in the Guayana region and increase national supply.