Venezuela's interim president Delcy Rodríguez signed a deal with US energy giant General Electric Vernova to rebuild the country's electricity grid, aiming to end frequent power outages that have plagued the system for years [1]. The agreement was announced at a televised event at the presidential palace in June.
The deal aims to boost Venezuela's electricity generation capacity by up to 5 gigawatts over the next four years, a significant increase for a system often crippled by outages lasting 10 hours or longer [1, 2]. Rodríguez called the accord "a historic step for Venezuela," saying it would help restore "an essential service" for the population [1].
Venezuela’s power grid was nationalized in 2007 under former president Hugo Chávez, and has since suffered from chronic neglect, lack of maintenance, and limited investment [1]. The Maduro government blamed recent outages largely on drought affecting the Guri hydroelectric dam, the country’s main power source [1].
Energy Minister Rolando Alcalá, who was appointed just three months ago, led negotiations on the deal and represents a shift from previous military-led leadership of the energy ministry [1]. The interim government under Rodríguez is pursuing closer ties with US investors and companies by opening Venezuela's economy to their participation [1].
The project could add 5 gigawatts of new capacity by 2030, significantly increasing generation and helping stabilize the power supply [2]. The deal marks one of the first large-scale partnerships between Venezuela and a major US energy company in recent years.
The next critical milestones include detailed project planning and initial equipment deliveries expected later this year. Implementation over the four-year timeline will test if the grid can be upgraded sufficiently to end years of unreliable service.
