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Venezuela Signs GE Vernova Deal, Targets 5,000 MW Expansion

6/17/2026

50 11 Full Breakdown

Summary

Story summary

Interim President Delcy Rodriguez signed a memorandum with GE Vernova in Caracas on June 16, 2026, allowing first foreign company to work on Venezuela’s power grid in more than a decade.
The plan targets 1,000 MW within two years and over 5,000 MW within five years.
Equipment will be installed at the Guri hydroelectric plant and thermoelectric facilities to ease overloads.
Legal reforms created 25-year concessions and a renewable framework.

History

Historical Context

Venezuela’s power system, dominated by the Guri dam which supplies about 64 % of hydroelectric output, has suffered repeated nationwide outages, notably the 2019 blackout that spurred sector reforms. In 2026 the interim government signed a memorandum with GE Vernova to add 1,000 MW of capacity within two years, aiming to stabilize the grid.

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Story summary

Interim President Delcy Rodriguez signed a memorandum with GE Vernova in Caracas on June 16, 2026, allowing first foreign company to work on Venezuela’s power grid in more than a decade.
The plan targets 1,000 MW within two years and over 5,000 MW within five years.
Equipment will be installed at the Guri hydroelectric plant and thermoelectric facilities to ease overloads.
Legal reforms created 25-year concessions and a renewable framework.

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