VENEZUELA · POWER GRID
Key Facts
- —What is happening On Thursday, 22 October, Carlos Mousadi, president of GE Vernova Venezuela, said the country’s power equipment is in “quite precarious” condition because maintenance the makers require was not done.
- —Why it matters GE Vernova, a US company, signed deals on 2 September to modernise the grid, so its own engineers’ inspection now sets the starting point for a US-backed repair effort.
- —The numbers The US Energy Department says the company plans 1 gigawatt of new power within 24 months and 5 gigawatts over four years, while an engineers’ group estimates up to US$40 billion.
- —Who is who Mousadi runs GE Vernova’s Venezuelan unit, Rolando Alcalá is Venezuela’s energy minister who asked for training, and Delcy Rodríguez is the interim president.
- —What to watch The training and certification plan Alcalá requested, the first new generation GE Vernova brings online, and whether power cuts ease within the six to 12 months Energy Secretary Wright set as the aim.
- —Power Index Venezuela ranks 13th of 14 in The Rio Times Latin America Power Index, with 27.0 points (October 2026 edition).
- —What it means for you US energy firms and investors weighing Venezuela should treat reliable electricity as an open risk, because the company doing the repairs calls the equipment precarious.
GE Vernova’s Venezuela president says turbines and substations are in precarious shape. He blames missing maintenance that the makers require.
On Thursday, 22 October, the head of GE Vernova’s Venezuelan unit said the power system is in poor shape from missing maintenance. Carlos Mousadi spoke at the Startup Venezuela Summit, reported the Caracas daily El Nacional and Spain’s EFE agency.
GE Vernova is the US equipment maker that signed grid deals with Venezuela on 2 September. It matters because that company must fix a grid US oil plans need, as an earlier report on the power crisis explains.
What GE Vernova’s Venezuela Chief Said
Mousadi told the summit that GE sent a team of engineers who inspected turbines and electrical substations. The condition of the equipment is “quite precarious” (“bastante precaria”), he said, as El Nacional and EFE quote him.
He tied the problem to maintenance that equipment makers require but that has not been carried out. He said Venezuelan technicians keep plants running without the parts the manufacturers call for, and that the visiting specialists were impressed.
Mousadi also said GE will start a plan of training, certification and technical follow-up at the request of Energy Minister Rolando Alcalá. Staff need manufacturer certification or recertification for new ways of operating turbines, he said.
He gave no figures on how many units are down, what repairs cost or how much power is missing. The EFE report gives none either.
What the 2 September Deals Cover
On Wednesday, 2 September, GE Vernova signed deals in Caracas with state firms PDVSA and Corpoelec. The US Energy Department says Secretary Chris Wright and Delcy Rodríguez, whom it calls interim president, witnessed it.
According to the department’s fact sheet, the work covers thermal and hydroelectric generation, transmission and distribution, and key substations. It builds on a cooperation agreement with Corpoelec signed on Monday, 15 June.
The same fact sheet says GE Vernova plans to bring 1 gigawatt of new reliable power online within the first 24 months. It adds 5 gigawatts over the following four years.
One gigawatt is roughly the output of a large US nuclear reactor. Financial terms were not disclosed, according to the trade outlet Turbomachinery Magazine.
Wright said the plan would focus on putting existing assets back to work. His stated aim was to stabilise the grid in six to 12 months, La República of Colombia reported on 4 September.
A Gap Between the Plan and the Equipment
The statement adds a company view of the equipment’s condition. Turbomachinery Magazine cites industry estimates from June that Venezuela has about 36 gigawatts of installed capacity but under 40% of it working.
On Wednesday, 21 October, the electrical engineering association Aviem said recovery could cost up to US$40 billion over ten years. That estimate is covered in Venezuela Grid Repair Needs Up to US$40B.
El Nacional says Aviem’s recent assessments match the GE Vernova diagnosis. The two statements come from different sources a day apart, and neither gives a unit-by-unit list of faults.
Who Blames What for the Blackouts
The Venezuelan government blames US sanctions, the El Niño weather pattern and alleged sabotage for the power failures, EFE reports. The opposition and many experts blame corruption and missing maintenance.
Mousadi’s remarks side with the maintenance explanation and do not mention sanctions or sabotage. Outages have driven night protests, as in reports on the power deficit near 3,000 MW and on calls to abolish Corpoelec.
For background on the country, see the Venezuela coverage hub. The diagnosis does not by itself say who is at fault for years of missing upkeep.
What It Means for US Readers
Investors in GE Vernova, which trades in New York, and in US oil firms should note this description of the equipment. Power cuts hit oilfields, ports and refineries as well as homes, so grid repair is a condition for output growth.
The Energy Department said the 2 September deals came alongside oil agreements with Chevron and Eni. Turbomachinery Magazine put the Chevron joint-venture investment at over US$7 billion across five years.
Travellers and US business visitors should expect continued outages, as El Diario and EFE describe. Nothing in the statement changes US sanctions or travel advice.
What Is Not Known
GE Vernova has not published figures on how many turbines or substations were inspected or which plants are worst. No GE Vernova press release on the 22 October remarks was found, so they rest on El Nacional and EFE.
Mousadi did not say when the inspection took place, and Turbomachinery reports a six-week audit before June. The cost of the training plan, its start date and who pays are not stated.
The 1 gigawatt target comes from the US Energy Department, and no independent check of progress has been published. Aviem’s US$40 billion figure is an association estimate, not a government or GE number.
What Comes Next
GE Vernova is to begin the training, certification and follow-up plan Alcalá requested, but no start date has been given. Wright’s six to 12 month window for stabilising the grid runs to between March and September 2027.
The 1 gigawatt target runs to about September 2028. The remarks do not mean the grid is beyond repair, and they do not prove a delay in the GE Vernova programme.
Frequently Asked Questions
What did GE Vernova say about the Venezuelan power system?
Its Venezuela president, Carlos Mousadi, said on 22 October that the equipment is in quite precarious condition. He blamed a lack of maintenance required by the manufacturers.
Who is Carlos Mousadi?
He is president of GE Vernova Venezuela. He signed the 2 September alliance with state oil company PDVSA for GE Vernova.
What has GE Vernova agreed to do in Venezuela?
It signed deals with PDVSA and Corpoelec on 2 September. The US Energy Department says it plans 1 gigawatt in 24 months, then 5 gigawatts.
How much would fixing the grid cost?
Nobody has given an official figure. The engineering association Aviem estimated up to US$40 billion and about ten years on 21 October.
Does this change anything for US travellers or investors?
Not directly, because it changes no sanctions or advisories. It signals that power supply remains a risk for operations in Venezuela.
Sources: El Nacional, 22 October 2026; El Diario (EFE), 22 October 2026; EFE via Infobae, 22 October 2026; Noticias Venevisión, 22 October 2026; US Department of Energy fact sheet, 2 September 2026; Turbomachinery Magazine, 3 September 2026; La República (Colombia), 4 September 2026; El Diario, 2 September 2026 (all accessed 23 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief