CAF approves resources to strengthen the electric system in the central region of Venezuela.

CAF, Development Bank of Latin America, granted a loan for USD 100 miliion to the Bolivarian Republic of Venezuela for the execution of the project Tuy Valleys Expansion Project, whose objective is to expand the capacity to transform and supply electric energy to the central region of the country. Thus, CAF continues to support the Venezuelan electric sector in the transmission and distribution areas.

The project includes the construction of four substations (Cua, Yare II, Cantarrana, and Valle Verde), the remodelling and expansion of an existing substation (SE Sur), and the instalation and rehabilitation of realted transmission and distribution lines. Through the same project, the capacity to increase the supply of electric energy in said region will increase to a total of 570 megawatts. 

The increase in the transmission capacity of electric energy, specifically in the area of the Tuy Valleys, is of great importance to improve the stabilization of the regional transmission and distribution systems, as well as to guarantee the future supply of electric energy, taking into consideration the demand projections. The total estimated cost for the project reaches USD 422.89 million, of which 23.65% (USD 100 million) will be financed by CAF and the remaining 76.35% (USD 322.89 million) will include contributions by the Venezuelan State.