Venezuela to increase power generation by 5000 MW

• 13 years ago (2010-09-18)
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The Venezuelan government is making a concerted investment push in order to meet its pledge to increase power generation by 5000 MW during 2010, according to Minister for Electric Power Alí Rodríguez Araque.

Funding of electricity generation, transmission and distribution projects are among the government’s current priorities.

In addition to investment in generation, the government announced funding for 16 transmission projects worth more than $2 billion. Some 700 projects worth $1.5 billion related to electricity distribution grids are also being planned by the government.

The minister also noted that the electricity sector needed to meet a high demand for investment resulting from population growth and increasing domestic production. However, he clarified that any investment would be made gradually, as the government also has to take care of other strategic sectors, such as: food, education and health.