Venezuela signs historic IMPSA deal to add 2,640 MW via Tocoma hydroelectric plant

Acting President Delcy Rodríguez announced that Venezuela has signed a historic agreement with Argentine engineering firm IMPSA to complete the long‑stalled Tocoma hydroelectric plant in Bolívar. The deal aims to bring up to 2,640 megawatts of capacity into the National Electric System (SEN), reinforcing grid stability and supporting economic growth. The first phase includes rehabilitating the Macagua complex (2,160 MW) and finishing Tocoma’s units 1 and 2 (480 MW). IMPSA will provide technical expertise, equipment and engineering services, working alongside the state electricity corporation Corpoelec. The agreement is part of broader reforms to attract private and foreign investment into Venezuela’s critical energy infrastructure, which has suffered from years of delays, funding gaps and sanctions.