Venezuela to add 50% more electricity capacity in four years via US firm deals

Venezuela's acting president, Delcy Rodríguez, announced a significant plan to boost the nation's electricity generation capacity by 50% over the next four years. This ambitious goal involves adding 7,400 megawatts (MW) through technical and investment agreements with U.S. companies IMPSA and General Electric (GE).

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These international alliances contemplate the recovery and incorporation of seven thousand 400 megawatts (MW) to the National Electric System (SEN) during the next four years; a figure that is equivalent to approximately half of Venezuela's current generation.

Rodríguez detailed that these international alliances focus on recovering and integrating power generation to bolster the National Electric System (SEN). She highlighted the agreement with IMPSA, which will reactivate and complete the long-delayed Tocoma hydroelectric dam, a project where the Venezuelan state reportedly lost around $9 billion. IMPSA is set to supply turbines manufactured in Russia to add over 2,000 MW and optimize the Macagua plant, contributing to a total recovery of 2,400 MW in the Lower Caroní complex.

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In the first 24 months, we will recover one thousand megawatts. But in the next four years, we plan to recover four thousand megawatts. Imagine what that means.

The pact with General Electric Vernova, signed on June 15, outlines a progressive four-year plan to recover 5,000 MW. The initial phase aims to restore 1,000 MW within 24 months, followed by the remaining 4,000 MW in the subsequent two years. Rodríguez emphasized the critical importance of reliable electricity, stating, "The electric service is the king of services; water, hospitals, schools, food, and agribusiness depend on it. Being able to recover the system and have megawatts available for economic growth is extraordinary news for the Venezuelan people."

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The electric service is the king of services; water, hospitals, schools, food, and agribusiness depend on it. Being able to recover the system and have megawatts available for economic growth is extraordinary news for the Venezuelan people.