
The RES Group (Renewable Energy Systems) is the world's largest independent company, having been in the sector for more than 40 years. As of 2023 , the company had established more than 23 gigawatts of renewable energy projects worldwide and supported more than 12 gigawatts operations. Employing more than 2500 people in 14 countries, it operates onshore and in wind and , in energy storage and in transmission and distribu. [pdf]

Venezuela has the world’s largest oil reserves and holds the 8th place in natural gas reserves (OPEC, 2017). It is also a net energy exporter with crude oil counting for more than 80% of the energy exports. In 2. . All the activities related to the generation, transmission, distribution and commercialization of the electricity are under the sole control of the vertically integrated and st. . Some challenges of the current business model are: Value proposition In the current business model, electricity is seen more as a political tool of the government rather than as a busine. . In the case of the Venezuelan energy sector, the energy transition could help to create the right market conditions to invest in other energy sources that until recently were not commer. . Energy companies around the world, especially in developed countries, are already preparing for the energy transition and changing their business models and strategies accord. [pdf]
Since 2013, Venezuela has been confronting a profound political, social, and economic crisis with a strong negative impact on the country’s energy sector. The crisis has severely affected the production of oil, natural gas, fuels, and electricity (Monaldi et al., 2021).
Since 2009, there have been no official statistics on the electricity and energy sectors. Since the end of the 19th century, the production of electricity has been steadily growing in Venezuela. In between, there were some jolts due to prolonged droughts associated with the El Niño phenomenon.
The Venezuelan electricity system has been designed so the main hydropower plants are located in the southern part of the country, taking advantage of multiple rivers and water reservoirs. Whereas, the thermal power plants are located throughout the whole country.
In this sense, Corpoelec has the opportunity to shape the future of the electricity sector in Venezuela by assuming an active role in the energy transition journey, rather than being a passive passenger.
In 2001, the Venezuelan Ministry of Energy and Mines estimated the unitary costs for solar PV to be in the range of 0,23 USD/kWh and 0,52 USD/kWh, and for wind power between 0,06 USD/kWh and 0,1 USD/kWh.
Note: Another article to be published soon will focus on the organization of the national electricity system and its regulatory framework. Venezuela has the world’s largest oil reserves and holds the 8th place in natural gas reserves (OPEC, 2017). It is also a net energy exporter with crude oil counting for more than 80% of the energy exports.

Indian Renewable Energy Development Agency Limited (IREDA) is an Indian enterprise which provides financial assistance and other services to projects related to and /. Formed in 1987, IREDA is a Navratna organisation owned by the and administratively controlled by the . ReNew Energy Global plc is a solutions company based in . It is the first Indian renewable energy company to be listed on . ReNew operates more than 140 projects spread across nine states in India. The company provides decarbonisation solutions through a mix of , data-driven solutions, storage, manufacturing, and carbon markets. [pdf]
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