Alejandro Betancourt, president of Derwick Associates, met with Eduardo Montes
— President of UNESA, the Spanish electric power lobby— in Madrid, during his last visit to Spain. At this meeting, the president of the Venezuelan company studied investment opportunities in the Spanish electricity sector with a view towards international expansion.
Derwick has been present in Spain since 2010: its existing office in that country is currently in charge of international strategic development. Derwick chose Spain over other European countries due to the fact that the production and distribution of electricity is one of its economy's primary components, totalling 1.2% of GDP. In addition to this, a number of important Spanish firms are on the stock market and are financed through first-class international funding.
During his stay in Spain, Betancourt is expecting to strengthen the Venezuelan electricity system, which has been booming for the last five years, ever since the country suffered a power shortage due to its over-reliance on hydropower, exacerbated by the high demand from the petroleum industry and by a severe drought faced by the country. At the time, the government had decided to draw up an energy ration plan, as well as to expand the electricity capacity nationwide.
Derwick carried out this plan with the construction of eleven thermoelectric power plants in Venezuela with a total capacity of 1,216 megawatts, benefitting over 800,000 Venezuelan families.