emirates7 - Venezuela's government and the local ​branch of US conglomerate General ‌Electric (GE.N) signed a memorandum of understanding, Venezuelan state TV showed on ​Monday, according to Reuters.

Interim President Delcy Rodriguez ​said she had asked her ⁠teams to formaliSe 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.