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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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