Completed Development AidData Chinese Aid

[China-Venezuela Joint Fund] China Funds USD 135 Million Termozulia IV Power Plant (linked to Record ID#91431, 58677)

Funder	China Development Bank (CDB)
Recipient Organization	Banco de Desarrollo Económico y Social de Venezuela (BANDES)\|China-Venezuela Joint Fund
Country	Venezuela
Start Date	Jan 01, 2009
End Date	Feb 28, 2030
Duration	7,728 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`91492`

Grant Description

[China-Venezuela Joint Fund] China Funds USD 135 Million Termozulia IV Power Plant In 2009, the China-Venezuela Joint Fund (see Record ID#58677) provided USD 135 million for the construction of the Termozulia II power plant. It was funded by either Tranche A (see Record ID#35985) or Tranche B (see Record ID#37528) of the Joint Fund.

The primary contractors were Energy Parts Solutions, Proenergy Services, and Energy Solutions C.A. The EPC contract with Energy Solutions was signed on November 9, 2009. The natural gas-fueled plant was inaugurated on September 2, 2010, and it began operating with a capacity of 150 MW. The plant is part of the broader General Rafael Urdaneta Thermoelectric Complex, which houses Termozulia plants I-IV.

See Record ID#91431 for TermoZulia II.

TermoZulia V, a similarly named plant, is located approximately 122 kilometers from the General Rafael Urdaneta Thermoelectric Complex and is captured in Record ID#91486.

A former Vice Minister of Electric Energy, Nervis Villalobos Cárdenas, has been accused of corruption relating to the construction of this plant.

He was also accused of taking bribes during the tender process for the India Urquia (El Sitio) power plant (see Record ID#91468).

Additionally, a 2018 the National Assembly report found a difference of 68% between the actual cost and the contract price.

📋 Staff Comments

This project is linked to project ID#58677, which captures the China-Venezuela Joint Fund. It is also linked to the other China-funded project in the General Rafael Urdaneta Thermoelectric Complex, Termozulia II (see project ID#91431). The funding for Termozulia I is unclear, and Termozulia III was funded by the Development Bank of Latin America (CAF). Termozulia V (see project ID#91486) is not part of the General Rafael Urdaneta Thermoelectric Complex.
No transaction amount is listed because the amount is captured by one of the subprojects to project ID#58677.

📚 Sources & References

PROENERGY EPC SERVICES AWARDED TERMOZULIA PROJECT
Claves para comprender el caso de Nervis Villalobos Cárdenas
Unit TZ11 of Termozulia IV was reincorporated to the SEN with a new gas system
Este jueves
Presidente Chávez inaugura Planta de generación termoeléctrica en Maracaibo
Planta Termozulia IV Favorecer a 30000 Familias Generacion 150 Megavatios
COMISIÓN MIXTA PARA EL ESTUDIO DE LA CRISIS ELÉCTRICA EN EL PAÍS INFORME FINAL Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.