US says deal aims to stabilize Venezuela power grid in 6-12 months

CARACAS, Sept 3 (Reuters) - U.S. Energy Secretary Chris Wright said a deal between Venezuela and U.S. energy equipment and services company GE Vernova aims to help stabilize Venezuela's beleaguered power grid in six months to a year and boost it in coming years.

"The plan is immediately ... in six to 12 months (to) focus on getting existing assets on the ground back in working order, back in condition, stabilize the grid, expand the hours of service," Wright told reporters late on Wednesday before flying back to Washington.

GE Vernova GEV.N was one of several companies that committed to expanding energy projects in Venezuela during a ceremony in Caracas on Wednesday overseen by interim President Delcy Rodriguez and Wright.

The deal aims to rehabilitate infrastructure including the Guri Dam, built in the 1960s, which Wright said is producing only half the power it was designed for, as turbines and transmission lines have aged.

Rodriguez has called agreements with GE Vernova a "historic step." Last month she called for power conservation due to drought conditions expected from the El Nino weather pattern. The grid was already suffering power outages and the call came after twin earthquakes killed thousands in June.

Maria Corina Machado, Venezuela's opposition leader, said in a video message on Thursday that only a "serious, democratic government" can provide the stability needed by investors in Venezuela.

The White House said that under the deal, GE Vernova plans to bring 1 gigawatt of new power online within the first 24 months, and another 5 GW over the following four years.

GE Vernova did not immediately respond to a request for comment.