Venezuela is home to the Guri Dam, whose hydroelectric power (10 megawatts - 5 times greater than the Hoover Dam) is normally 60% of Venezuela's electricity. But the massive drought of the past years has dramatically reduced the dam's hydroelectric capacity. Right now the water level is 5 feet above what is known as the catastrophic point where the turbines stop turning altogether.
The lion's share of responsibility for this situation devolves to horrible planning and execution by the government. Obviously Venezuela has the natural resources to generate electricity without hydroelectric power.
But government incompetence should not obscure a far larger issue: How can governments rely on hydroelectric power in a world where climate change is increasing extreme weather patterns, including droughts? The Three Gorges Dam in China produces 22.5 megawatts of electricity. That is a very large chunk of power generation in China.

We have the spectre of global climate change making droughts more common, which will make us more dependent on fossil fuels, which can then lead to more droughts.