Venezuela Plans 50% Boost to Electricity Supply in Four Years

Delcy Rodríguez, Venezuela’s acting president, announced agreements with IMPSA and General Electric (GE) to add 7,400 megawatts of power to the national grid within four years. The plan aims to increase Venezuela’s electricity generation capacity by 50%.

The agreements involve the completion of the Tocoma dam, with IMPSA recovering over 2,400 megawatts, and a phased recovery of 5,000 megawatts with General Electric Vernova over four years, starting with 1,000 megawatts in the first 24 months. The Tocoma dam project originally tripled its budget and was abandoned near completion.

Rodríguez stated this increased electricity supply is critical for the nation’s essential services and economic growth. The success of these projects depends on the execution of specific commitments with both corporations and the transfer of turbines already manufactured in Russia for the Tocoma dam.