South America · Energy

Key Facts

— The deal. An Argentine engineering firm, IMPSA, is close to reviving a long-dead contract to finish two hydropower dams in Venezuela.

— The prize. The work could add up to 672 megawatts to a national grid that has been crippled by years of blackouts.

— What unlocked it. A United States license issued earlier this year cleared the sanctions hurdle that had frozen the project.