LatinNews Daily - 16 June 2026

*Venezuela’s government led by President Delcy Rodríguez has signed a memorandum of understanding (MoU) with GE Vernova, a spin-off of US conglomerate General Electric (GE), to “stabilise” Venezuela’s national electricity system. Rodríguez said she had asked both negotiating teams to “formalise the contract as soon as possible” so that work could begin. She did not provide a figure as to how much the deal was worth but said that it would make 1 gigawatt (GW) of energy available in the first two years and over 5GW available over four years. The announcement comes as Venezuela’s national assembly approved a bill on 2 June to reform the country’s electricity system (SEN) in the first of two votes it will face. The bill aims to stimulate private investment in the electricity sector, which has for years been prone to regular blackouts and is viewed as a key obstacle to economic growth and the recovery of oil production.