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Squo Solves

Squo investment solves Venezuela is already modernizingtheir energy infrastructure and has ample funds to do it.

Correo Del Orinoco International 2!! (Venezuela: Building a SustainableElectricity System, English Addition, December 6th !"",htt#:$$%%%&correodelorinoco&gob&'e$%#content$u#loads$!""$"$)*+d- ,accessed $.$"/, 012Venezuela is using pu"lic investment# foreign direct investment# pu"liceducation# and the la$ in order to craft a sustaina"le solution to therapidly gro$ing demand for electricity that has resulted from economicgro$th and poverty reduction.% &hrough a campaign to promote energyconservation# the oil'producing South (merican nation has )ept electricityconsumption in chec) amidst economic gro$th in 2!!# according *inisterfor +lectricity (li ,odriguez# $ho appeared last $ee) on the Sunday tal)sho$ hosted "y former Vice -resident ose Vicente ,angel.%3ormally, -or a

4 increase in the 5D, electricity consum#tion is e7#ected to increase by as muchas ,!!! mega%atts, 8odriguez e7#lained& Venezuela9s 5D gre% by /&4 in the;rst nine months o- this year, so the go'ernment %as #re#aring -or electricityconsum#tion to reach ",.!! mega%atts.% /0e $ere e1pecting increases inconsumption# "ut !# mega$atts at pea) hour has "een the upper limituntil no$3# ,odriguez said. /&he campaign for the e4cient use ofelectricity has "een very successful3# said ,odriguez.% &he government5smeasures to reduce $asteful energy consumption "egan t$o years agoduring a drought that reduced the $ater level at the 6uri hydroelectriccomple1 and nearly caused the collapse of the national electric system.%&he state'o$ned electricity company# CO,-O+7+C# increased rates forhigh'consumption households and restricted imports of energy'intensive

appliances.s&? @heenergysa'ing measures hel#ed a'ert a dee#er and #rolonged crisis& 3onetheless,the tem#orary electricity shortage aggra'ated Venezuela9s recession amidst theglobal economic do%nturn that began in !!& +t also came at a time o- highelectricity consum#tion -ollo%ing ;'eyears o- sustained economic gro%th and a!4 reduction in #o'erty&? EA3D+35 ECE)@8+)+@ 8*D)@+*3? (s Venezuelano$ emerges from recession# propelled "y increased social investments "ythe government# the country has "egun a multi'"illion dollar plan toe1pand its electricity infrastructure and prevent future crises.% On

Sunday# ,odriguez said the $ave of economic gro$th that is e1pected inthe coming years could increase Venezuela5s electricity consumption from!# mega$atts to 8# mega$atts.%@he country cannot continue to relyon the 5uri dam -or the maFority o- its electricity, the minister asserted&?S#eci;cally, the go'ernment9s latest #lan to build more than t%o million homes andeGui# them %ith electric household a##liances such as re-rigerators, %ashers anddryers, o'ens and sto'es, tele'isions, and air conditioners %ill contribute to theincreased energy consum#tion, 8odriguez contended&? @he a##liances are im#orted-rom )hina and distributed through the statesubsidized Bicentenario mar>ets& @hey

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are sold at a discount o- u# to !4, and consumers are oHered lo%interest;nancing -rom the stateo%ned Ban> o- Venezuela, Iomen9s Ban>, eo#le9s Ban>&?&o provide for the citizenry5s energy needs# CO,-O+7+C has invested 2!.8"illion "olivars 9:; "illion< in electricity production and transmission in2!!.% ( large part of the funding $ent to$ard the construction of adecentralized system of local thermo'electric plants that generate

"et$een 8; and 8; mega$atts each and are dispersed in cities andto$ns across the country.% &he government also received a : millionloan from the Inter(merican Development =an)# $hich $as matched $ith:>? million of state funds# to renovate and improve the ef@ciency of si1generators in the 6uri dam.%@o im#ro'e the electricity transmission system,Venezuela is building #o%er lines connecting the eastern Boli'ar state, %here the5uri dam is located, %ith the ribante hydroelectric com#le7 in the %estern region&?*inister ,odriguez af@rmed that !22 out of a planned !A high'po$eredtransformers have "een installed.% /0e have to advance in theconstruction of ne$ transmission lines so that $e do not depend on thethree'line radial system that $e have# $hich in the case of any incidentcould leave the country $ithout energy3# ,odriguez said on Sunday.% &he

investments for this proBect came out of a "i'national investment accordsigned "y Venezuela and China. In the accord# China pledged to invest :2A"illion over several years to increase Venezuela5s electricity production "y2#; mega$atts.? +n the ;rst si7 months o- this year, the go'ernment added",/!! mega%atts to the national electric system& &he company proBects that it$ill add #>!A mega$atts to the system "y the end of 2!2. (s of (pril2!!# Venezuela reported to have the capacity to produce !#?22mega$atts.%