Sep. 3 at 2:15 AM
GE Vernova agreed to help rebuild large parts of Venezuela’s power grid as part of a broader Trump administration effort to revive the country’s energy sector. The deal could involve several gigawatts of generation capacity, with major projects planned over the next six months, according to sources familiar with the matter.
U.S. Energy Secretary Chris Wright confirmed the agreement but provided few details. GE Vernova shares rose about 2%. Venezuela’s deteriorated power grid, which suffers frequent blackouts, is estimated to require at least
$25B in investment and has become a major obstacle to expanding oil and gas production.
The agreement comes alongside a broader push to attract energy companies, including Chevron, which is expanding operations in Venezuela.
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