Venezuela in Talks With China on Power Projects After Shortages

[phantom power]

Venezuela is in talks with China for 3,000 megawatts of new electricity projects as it seeks to boost production capacity following a crisis earlier this year that forced power rationing to avoid a collapse of the national grid.

Chinese companies may work on at least five projects to build hydroelectric reservoirs and thermoelectric plants in Venezuela as the nation seeks to boost capacity by 18,700 megawatts, Electricity Minister Ali Rodriguez said yesterday in an interview in Caracas, without naming the companies involved.

Venezuela is strengthening ties with China and tapping Russia for help to build its first nuclear plant to diversify power sources. The El Nino weather phenomenon caused drought earlier this year, cutting water levels at the hydro dams that provide 73 percent of the country’s power. The dry period led to Venezuela’s worst power crisis in six years, prompting cuts to production lines at state-run aluminum and steel companies.

http://www.bloomberg.com/news/2010-11-16/venezuela-seeks-china-aid-on-power-projects-after-shortages-hurt-industry.html

[dipsydoodle]

1. Please cross post

in the Latin Forum.

:hi: