The acting president of Venezuela, Delcy Rodríguez, speaks after the MoU signing with General Electric Vernova for recovery of the National Electric System, June 15, 2026. Photo: Presidential Press.
Venezuela signed a memorandum of understanding with the US multinational General Electric Vernova for the recovery of the national electric system.
During the signing on Monday, June 15, the acting president of Venezuela, Delcy Rodríguez, stated that the recovery plan is divided into phases.
“It will allow us to recover, in the first 24 months, 1,000 megawatts and, in total, in the next four years, more than 5,000 megawatts, necessary for national life, for each Venezuelan household, and for industry,” she said.
Thereafter, she instructed the technical teams to expedite the corresponding process to transform this memorandum into definitive actions as soon as possible.
She stated that the plan aims to implement cutting-edge technologies that would help in the stabilization and optimization of electricity generation, prioritizing the strengthening of energy infrastructure as a cross-cutting axis for the economic development and social well-being of the nation.
Venezuela Approves Electric System Law Reform, Fare Hikes in the Making (+Sovereignty)
This MoU follows the Venezuelan National Assembly approved partial reform of the Organic Law of the Electric System and Service, allowing private and mixed capital investments in the National Electric System, considered a controversial move by various analysts, who opine that it could weaken the sovereignty of the Bolivarian Republic.
For several years, the Venezuelan electricity grid has been under severe stress due to criminal US sanctions and consequent heavy disinvestment. However, the decision to allow private participation in the electric system has triggered deep anxiety among left-wing and Chavista analysts, who view the legislative push as part of a broader, troubling pattern of structural concessions. Critics argue that since the devastating January 3 US invasion of Venezuela—which resulted in the kidnapping of President Nicolás Maduro and First Lady Cilia Flores and the murder of over 100 people, including 47 Venezuelan and 32 Cuban soldiers—the administration of Acting President Delcy Rodríguez has compromised sovereign decision-making to stave off a total US military occupation.
(Alba Ciudad) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/SC/SH
