Venezuela to spend $15 billion on energy
CARACAS, VENEZUELA - Venezuela's government says it will spend $15 billion over the next five years to increase electricity production.
Energy Minister Ali Rodriguez said the projects will add 15,000 megawatts by 2015.
Venezuela imposed power and water rationing in December because a severe drought is threatening to drop water levels behind the important Guri Dam to critical lows. The dam supplies most of the country's electricity.
Critics have accused President Hugo Chavez of failing to invest enough in electrical projects to meet growing demand.
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Bruce nuclear reactor taken offline as $2.1B project 'officially' begins
TIVERTON, ONT - The world’s largest nuclear fleet, became a little smaller Monday morning. Bruce Power has began the process to take Unit 6 offline to begin a $2.1 billion project to replace all the major components of the reactor.
The reactor, which produces enough electricity to power 750,000 homes, will be out of service for the next four years.
In its place, hydroelectric power and natural gas will be utilized more.
Taking Unit 6 offline is just the “official” beginning of a 13-year, $13-billion project to refurbish six of Bruce Power’s eight nuclear reactors.
Work to extend the life of the nuclear plant…
