The Venezuelan interim president, Delcy Rodríguez, announced via her Telegram channel the signing of an agreement with the company IMPSA. The president stated that this agreement will help consolidate the completion of the Tocoma hydropower plant and will also “advance work on the National Electric System (SEN)”. In this regard, she noted that the completion of the hydropower project will add 2,640 MW to the country’s electricity capacity. IMPSA, originally an Argentine state-owned company, is now owned by the US-based Industrial Acquisitions Fund.
In addition, the Venezuelan government and the US company General Electric have signed a memorandum of understanding (MoU), "to launch the structural recovery of the Venezuelan Electric System." The agreement aims to return idle units to services and to improve the reliability of existing power assets, in order to deliver 1 GW of energy within the first 24 months and more than 5 GW over four years. It also aims to neutralise persistent daily blackouts, since the national peak demand exceeds 15.5 GW for an available capacity of 12 GW.
Across the country, Venezuelans regularly face disruptions to public services, particularly electricity supply, with parts of the western region recently experiencing hours of daily power cuts. Acting President Delcy Rodríguez stated that addressing these long-running outages is a priority, although foreign power companies have been reluctant to engage in repair plans due to uncertainty over payment terms (Reuters, 13/06/2026).
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