Venezuela Signs GE Vernova, Corpoelec Deal to Restore 1,000 MW of Grid Capacity
Updated
Updated · Seeking Alpha · Jun 16
Venezuela Signs GE Vernova, Corpoelec Deal to Restore 1,000 MW of Grid Capacity
3 articles · Updated · Seeking Alpha · Jun 16
Summary
Venezuela signed a memorandum with GE Vernova and state utility Corpoelec on Monday to repair, modernize and stabilize the national power grid, targeting 1,000 megawatts of restored generating capacity within 24 months.
The agreement centers on shoring up a power system the government described as struggling, with the work aimed at improving electricity supply reliability across the country.
Corpoelec's inclusion adds the state utility to a deal first reported with GE Vernova, while the broader plan previously outlined by officials envisioned restoring more than 5 gigawatts over four years.