Venezuela has reached an agreement with General Electric to modernize its electrical system, which has been plagued by frequent power outages for several years. The announcement was made Monday by interim president Delcy Rodríguez at a ceremony held at the presidential palace in Caracas.
According to Venezuelan authorities, this partnership should allow for the recovery of 1,000 megawatts of electrical capacity in the first two years. The government hopes to increase this gain to more than 5,000 megawatts within four years. The needs are significant, as the country currently produces approximately 12,000 megawatts while its daily consumption is estimated at nearly 14,000 megawatts.
A major challenge for economic recovery
The agreement comes as Caracas continues to restructure its energy sector. Authorities consider upgrading the electricity grid an essential condition for restarting several strategic activities, particularly the oil industry, a pillar of the national economy.
Delcy Rodríguez described the partnership as a "historic step." For several weeks, General Electric teams conducted a comprehensive assessment of Venezuela's electrical system, including both hydroelectric and thermal infrastructure. This expertise will now serve as the foundation for the modernization efforts.
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