CARACAS — GE Vernova expects to bring one gigawatt of new, reliable power generation capacity online in Venezuela within the first 24 months of implementing its agreement to modernize and expand the country’s energy infrastructure, according to a fact sheet released Friday by the U.S. Embassy.
The projection is part of a broader plan to add another five gigawatts of capacity over the next four years, which would significantly expand Venezuela’s power system.
The parties signed the agreement this week during U.S. Energy Secretary Chris Wright’s visit to Caracas. Wright met with Venezuela’s interim president, Delcy Rodríguez, and witnessed the signing of the agreement with the U.S. company.
According to the U.S. diplomatic mission, the project aims to “modernize and expand Venezuela’s power grid,” add new generation capacity, optimize existing infrastructure, and improve the system’s long-term reliability.
Plan covers power generation and transmission networks
The initiative calls for work across several segments of Venezuela’s electricity infrastructure, including thermal and hydroelectric generation, transmission and distribution systems, and key substations that support the power grid.
The U.S. Embassy said the agreement seeks to increase available power capacity and help restore infrastructure that has faced generation, transmission, and reliability problems in recent years.
The new agreement also builds on a cooperation agreement that GE Vernova and state-owned Corporación Eléctrica Nacional (Corpoelec) signed on June 15.
That agreement established a framework for cooperation to “rehabilitate and strengthen Venezuela’s electricity infrastructure” and laid the groundwork for the new projects announced this week.
