GE Vernova Takes on Venezuela Power Grid Rebuild
GE Vernova has committed to a multi-billion-dollar project to rebuild and stabilize Venezuela's power grid, part of a sweeping package of energy deals backed by the Trump administration. Under final pacts signed in Caracas alongside U.S. Energy Secretary Chris Wright and Venezuelan interim President Delcy Rodríguez, GE Vernova will deploy high-impact stabilization efforts targeting a 6-to-12-month stabilization timeline.
The project is part of a larger effort to unlock Venezuela's vast energy resources and rebuild critical infrastructure. Chevron has announced new agreements to invest over $7 billion in the country, while Eni has signed a landmark 25-year contract to develop the Junín 5 oil field.
GE Vernova plans to bring 1 gigawatt of new reliable power online within the first 24 months and an additional 5 gigawatts over the following four years. The agreement will address thermal and hydroelectric power generation, transmission and distribution infrastructure, and key substations.