Venezuela Energy Minster Rafael Rodriguez explored development of a 500-MW hydroelectric project in Venezuela with a major Russian supplier as part of a Venezuelan delegation to Moscow.
Technopromexport head Sergei Molozhavy proposed building the project on the Rio Doradas during talks July 27 with Rodriguez, who accompanied Venezuelan President Hugo Chavez to the Russian capital.
“The engineering plan for building a hydro-technical complex on the Rio Doradas river proposed by Technopromexport specialists has been deemed optimal and approved by the project originator, CADAFE Co.,” Technopromexport said in a statement reported by Russia’s information agency, RIA Novosti.
The Russian firm prepared a feasibility study for Rio Doradas with a design capacity of 500 MW to serve southwestern Venezuela. It is completing cost calculations, initially estimated at US$800 million to US$900 million. Technopromexport indicated a contract could be signed by the end of the year.
Russian President Vladimir Putin met with Chavez July 27, saying Russian private business might invest billions of dollars in Venezuela with the government’s support.