GE Vernova signs two Venezuela agreements targeting 1 GW in 24 months and 5 GW after

GE Vernova signed two agreements in Caracas on September 2, 2026, one with state oil company PDVSA for self-generation at oil and gas sites and one with state utility Corpoelec for grid projects. The company is to bring 1 GW of new power online within 24 months, followed by 5 GW over the next four years. The scope covers generation, transmission, distribution and substations.

• Counterparties: PDVSA (self-generation at oil and gas sites) and Corpoelec (national grid projects)
• Targets: 1 GW online within 24 months, then 5 GW over the following four years
• Scope: thermal and hydro generation, transmission and distribution, key substations
• Signed in Caracas on September 2, 2026