Venezuela and GE Vernova Bet on 5 Gigawatts—With Execution Risks Mounting

Venezuela's interim government signed a deal with GE Vernova to add 5 gigawatts of electricity capacity in four years. The pledge could ease blackouts crippling hospitals and industry. Yet sanctions, Venezuela's history of defaulting on contracts, import barriers, and currency controls threaten delivery. Large infrastructure projects in fragile states commonly stall. The test is stark: capacity materializes or Western investors lose confidence.