Venezuela is expressing interest in expanding its energy relationships with Caribbean countries to include renewable energy cooperation, as regional governments seek alternatives to costly imported fossil fuels and greater energy security.
Carola Herrera-Napoleon, Venezuela’s Vice-Minister in the Ministry of Eco-Socialism, indicated that her country was open to exploring partnerships with Caribbean neighbours during an interview with Guardian Media at the COP31 climate conference in Türkiye.
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Asked whether Venezuela would consider extending its traditional energy relationships beyond oil and natural gas to renewable energy development, Herrera-Napoleon responded positively, pointing to investment opportunities in the country.
She highlighted Venezuela’s renewable energy resources, including hydroelectricity, wind and solar power, and said approximately 80 per cent of the country’s electricity generation comes from sources she described as clean energy.
The discussions could be significant for Caribbean countries such as Saint Lucia, Barbados, and Saint Vincent and the Grenadines, where high electricity costs and dependence on imported fossil fuels continue to create economic pressures.
However, Herrera-Napoleon did not identify specific projects, investment arrangements, or timelines for potential regional partnerships. She also could not outline particular opportunities for Trinidad and Tobago, despite the two countries’ longstanding energy relationship.
Venezuela has historically supported Caribbean energy security through initiatives such as PetroCaribe, which provided participating countries with access to Venezuelan petroleum under preferential financing arrangements.
The latest comments suggest an interest in broadening that relationship to include renewable energy, although concrete agreements and project proposals have yet to emerge.
