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Market Chatter: GE Vernova Commits to Rebuilding Portions of Venezuela's Power Grid

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GE Vernova (GEV) has agreed to restore large sections of Venezuela's electrical network under a US government initiative to boost the nation's energy generation, Bloomberg News reported Wednesday, citing people familiar with the matter.

The pending contract includes a plan to rebuild several gigawatts of capacity, the news agency reported.

US Energy Secretary Chris Wright, speaking on Bloomberg Television on Wednesday, confirmed that GE Vernova has agreed to a Venezuela deal, but didn't provide details.

GE Vernova did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $912.93, Change: $+14.40, Percent Change: +1.60%

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