Caracas, August 12, 2026 – As part of the reactivation of generation capacity for Venezuela’s national electricity system, senior executives of Argentine-American company IMPSA met with President Delcy Rodríguez, Minister of Finance Anabel Pereira Fernández, Minister of Energy Rolando Alcalá, Minister of Public Works Juan José Ramírez, and CORPOELEC President Juan Crisóstomo Fernández to sign the final agreement for the rehabilitation and modernization of the hydroelectric infrastructure at Tocoma and Macagua.
The signed contract provides, in its first phase, for the recovery of 432 MW at Tocoma, through the rehabilitation of Units 1 and 2, and 240 MW at Macagua, through Units 4, 5, and 6, bringing the total to 672 MW within a 24-month period.
As the first milestone in the execution of this plan, IMPSA has committed to restoring and adding 160 MW to the National Electricity System within 90 days following the signing of the final contract, through the commissioning of Macagua Units 5 and 6.
This intervention will deliver tangible results in the short term, while generating a positive impact on the country’s economic recovery and contributing to the operation of a safe and reliable electricity system.
Representing IMPSA were Jorge Salcedo, President; Juan Manuel Domínguez, Vice President; Pablo Magistocchi, General Manager; and Mario Croce, Business Director.
The master plan:
In parallel with the addition of the initial 160 MW, IMPSA will begin the civil and electromechanical works required to accelerate the rehabilitation of Tocoma. The first phase includes the commissioning of Units 1 and 2, which will enable the recovery of 432 MW of generation capacity within 24 months.
At Macagua, following the initial intervention, an additional 80 MW will be added within 12 months through the rehabilitation of Unit 4, bringing the total generation capacity to 240 MW.
Once this first phase is completed, the master plan developed by IMPSA and CORPOELEC foresees reaching up to 2,640 MW of generation capacity across both hydroelectric plants, comprising 2,160 MW at Tocoma and 480 MW at Macagua, making this project the most important hydroelectric project in Latin America.
Visit to Puerto Ordaz:
During their stay in Venezuela, the executives of the Argentine-American company visited Puerto Ordaz, toured the Tocoma and Macagua facilities together with CORPOELEC’s technical team, and discussed the strategic and technical guidelines ahead of the start of the works.
The meetings reaffirmed the commitment to accelerate the timelines and launch the work plan once the administrative phase has been completed and the notice to proceed has been issued.
The new IMPSA:
In February 2025, IMPSA was acquired by the American investment fund IAF, becoming an Argentine-American company with a leading role in the global power generation sector.
The company’s new Executive Committee, led by Jorge Salcedo, President, and Juan Manuel Domínguez, Vice President, has driven the operational recovery and efficiency of IMPSA, transforming the company into a benchmark in the nuclear energy and hydroelectric power sectors, with strategic alliances across Latin America and the United States, as well as in the port crane market in response to the continent’s new geopolitical landscape.
Under the leadership of its new shareholders, IMPSA restructured its debt, strengthened its financial position, restored the confidence of clients and markets, and consolidated an organization focused on the execution of highly complex energy and industrial projects.
IMPSA’s experience in the hydroelectric sector:
IMPSA has more than a century of experience and more than 180 projects developed, with over 50,000 MW of installed electric generation capacity worldwide.
Today, the company continues to develop rehabilitation and modernization projects, as well as supply equipment for power generation facilities in different markets. As part of its international expansion strategy, IMPSA signed a strategic alliance with National Electric Coil (NEC), an agreement that will strengthen the company’s presence in the United States, Canada, Mexico, and Central America.
Following IAF’s acquisition, IMPSA resumed participation in tenders for hydroelectric power plants in different countries, consolidating a strategy focused on restoring its international positioning and turning its technological and industrial expertise into new business opportunities.