IMPSA Reaches Agreement with Venezuela to Reactivate Tocoma and Macagua Power Plants
IMPSA reached an agreement with state-owned Corpoelec to advance the recovery of the Tocoma and Macagua hydroelectric plants in Venezuela. The understanding was formalized through an addendum to the contract signed in 2014 and did not require a new bidding process.
The operation became possible after the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury authorized the Argentine company to resume negotiations with Venezuela. The authorization allowed the company to circumvent restrictions that prevented operations by firms linked to U.S. capital under Nicolás Maduro's administration.
The agreement establishes that IMPSA must bring online, in a first phase, 672 megawatts between both facilities. According to the disclosed timeline, the first 160 MW should be in service within the next 90 days, with the final objective of recovering 2,640 MW of capacity.
The document was signed with the participation of Delcy RodrĂguez, who received Jorge Salcedo and Juan Manuel DomĂnguez in Caracas, the executives leading IMPSA. The meetings took place first at La Estancia and then at the Palacio de Miraflores.
In parallel, the company's board held a meeting in Washington with Jarrod Agen, advisor to President Donald Trump and director of the National Energy Dominance Council. During that meeting, the executives attributed the project's viability to support from the U.S. administration.
IMPSA was privatized during Javier Milei's administration following a critical financial situation. The contract with Corpoelec represents a significant operation for the company, which must now proceed with the rehabilitation and commissioning of the two Venezuelan power plants.
With information from Infobae — EconomĂa.