Venezuela's electricity crisis deepens as investment stalls over payment uncertainty
Updated
Updated · Strategic News Global · May 4
Venezuela's electricity crisis deepens as investment stalls over payment uncertainty
13 articles · Updated · Strategic News Global · May 4
At April talks, Siemens Energy, GE Vernova and Mitsubishi Power weighed repairs, but under 13,000 MW of Venezuela's 36,000 MW capacity is available and residents face daily cuts of up to 10 hours.
Fuel-powered plants run at about 13% of capacity, disrupting the Paraguana Refining Center, fuel output and manufacturing, while unclear project priorities and approvals from Caracas and Washington delay deals.
Experts say at least $15 billion over three years is needed to stabilise the grid, but unpaid debts, sanctions, infrastructure decay and theft continue to deter financing and slow oil-and-gas recovery.
Will US-backed guarantees convince firms to rebuild Venezuela's grid, or is the country's legacy of debt too risky?
With its oil revenues under US control, can Venezuela achieve a sovereign recovery or just a supervised one?
As the US displaces China and Russia, who will ultimately control the future of Venezuela's vast energy resources?