Venezuela's government and electricity supply company GE Vernova signed a memorandum of understanding on June 15.
Interim President Delcy Rodriguez said she had asked her teams to formalize the contract as soon as possible to begin work that should make available 1 gigawatt of energy within its first 24 months and more than 5 gigawatts over four years.
"This is a historic step for Venezuela, enabling us to restore a service as essential to the life of a country as its electricity supply," she said in an announcement, speaking alongside the head of GE Vernova's power segment, Eric Gray.
Rodriguez did not say how much would be spent on the deal.
