In Venezuela, rebuilding the electricity sector could require up to $40 billion
Amid the return of international oil companies to Venezuela since the ousting of Nicolás Maduro, the country is also coming into the radar of investors interested in its electricity sector. The restart of the oil industry itself will demand more electricity, and massive investments will still be needed to recover a system heavily deteriorated by more than twenty years of lack of investment and maintenance.
Venezuela's electricity sector is attracting investors as international oil companies return to the country. Rebuilding the sector, which has deteriorated over 20 years, is expected to require $15-40 billion and may take up to a decade. Francisco Morandi, a consultant and former AES executive, says the main players in this process will be oil companies like Chevron, independent American players, and private equity groups.
A new law to open the sector to private investment is being discussed in Congress, but it still contains high-risk elements.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
