NEWS: Venezuela has inked a deal with GE Vernova to fortify the country’s ailing grid.

GE Vernova will partner with state-owned utility Corpoelec to restore 1 GW of capacity over the next two years, ramping up to over 5GW within the next five years. 

After 15 years of state monopoly, recent reforms have allowed foreign investment in Venezuela's grid. The country experiences frequent power outages linked to underinvestment, deferred maintenance, and high demand.