The Daily Journal — The U.S. Embassy in Caracas highlighted on Wednesday a series of agreements that Venezuela signed with U.S.-owned corporations, primarily aimed at stabilizing the national power grid and reviving electricity generation.
Through its official X account, the diplomatic mission praised the introduction of American technology and engineering to address deficiencies in the interconnected power system, as well as the coordinated work carried out with the country’s interim authorities.
The main development highlighted by U.S. diplomats is the memorandum of understanding between the National Electric Corporation (Corpoelec) and the U.S. energy giant GE Vernova. The diplomatic mission described the agreement as a fundamental step toward growth and prosperity.
“The memorandum of understanding between GE Vernova and Corpoelec marks an important step toward stabilizing Venezuela’s power grid and increasing electricity generation in the short term, which will support employment, investment, and economic recovery,” the U.S. Embassy stated.
The U.S. mission emphasized that “a reliable electricity supply is essential for growth and prosperity.”
Meanwhile, U.S. official John Barrett stressed the impact that another key partnership in the sector will have: the contract reached with U.S.-Argentine engineering firm IMPSA. Barrett outlined the technical goals and strict timelines for this infrastructure initiative, which aims to reduce the country’s energy deficit.
“Increasing electricity generation is essential to Venezuela’s economic recovery and supports President Trump’s and Secretary Rubio’s three-phase plan,” Barrett said.
The Chargé d’Affaires added:
“The United States is proud to support the agreement between Corpoelec and U.S.-Argentine firm IMPSA, which will add 672 MW of generating capacity to Venezuela within 14 months.”
Creating a favorable investment environment
Washington’s emphasis on electricity-sector agreements coincides with high-level visits aimed at paving the way for additional American corporations to enter other critical sectors, including the hydrocarbons sector.
To strengthen these operating conditions, Acting Assistant Secretary of Energy Andrew Rapp and Toby Deen, Senior Policy Advisor to the National Energy Dominance Council (NEDC), have held working meetings in Caracas with Delcy Rodríguez’s administration.
According to the White House, the objective is “to create a favorable environment for U.S. investment.”
