GE Vernova will enter the recovery of the Venezuelan electrical system after signing an agreement with PDVSA and Corpoelec that aims first to rehabilitate existing infrastructure and, in a second stage, to incorporate new generation capacity.
The plan includes an immediate phase of six to twelve months to return assets to operational condition, stabilize the grid, and extend service hours. The roadmap then calls for adding 1 GW of new capacity during the first 24 months and another 5 GW over the following four years .
The agreement was signed at Miraflores Palace in Caracas and is part of a series of energy understandings announced during the visit of U.S. Energy Secretary Chris Wright , who noted that the commitments of GE Vernova, Chevron, and Eni could mobilize billions of dollars in investments and generate new technical jobs.
“The plan is to immediately, within six to 12 months, focus on bringing existing assets back online, returning them to operational condition, stabilizing the network, and extending service hours,” Wright said.
The initial priority will therefore be to recover existing capacity that is currently operating below its potential , before moving forward with new facilities.
One of the assets identified is the Guri hydroelectric complex , a central piece of the Venezuelan electrical system and one of the country's main sources of power generation.
According to Wright, Guri is currently producing about half the electricity it was designed to produce , as a result of the aging of turbines, transmission lines and other infrastructure components.
The strategy involves intervening in both facilities directly linked to the oil industry and elements of the National Electric System , with the aim of restoring reliability in the supply and generating better conditions to support an increase in productive activity.
First recover assets, then add new capacity
The roadmap is planned in two speeds.
During the first few months, the priority will be repairing equipment, restoring generation to the system, and stabilizing transmission. This phase aims to leverage existing infrastructure and reduce the time needed to recover available capacity.
From there, the next-generation rollout would begin.
The White House indicated that GE Vernova plans to add an additional 1 GW during the first 24 months , while the next phase envisions another 5 GW over the following four years .
In total, the proposed horizon reaches up to 6 GW of new capacity , although this is a development projection and not power already built or in operation.
The sequence follows a logic of progressive recovery: first extracting greater performance from existing assets and then structurally expanding the generation fleet.
Wright placed the agreements signed in Caracas within a broader agenda of energy investments, in which other international companies are also participating.
For Venezuela, the immediate challenge is to reverse years of deterioration in generation and transmission before realizing a larger-scale capacity expansion.
With the agreement signed, GE Vernova is thus positioned in that first stage of rehabilitation, while the goal of up to an additional 6 GW marks the horizon of a possible subsequent expansion of the electrical system.