BROSSARD, CANADA (26 aout 2025) – GE Vernova Inc. (NYSE: GEV) a annoncé aujourd'hui un plan d'investissement de 22,2 millions de dollars canadiens dans ses usines du Québec, pour ses sites de production d'hydroélectricité à Sorel-Tracy et de réseau à La Prairie.

Les besoins énergétiques du Canada devraient doubler d'ici 2050. Au Québec, les projections de la demande indiquent une augmentation allant jusqu'à 35 % d'ici 2035. À cet égard, le Québec prévoit des investissements de 150 milliards de dollars — faisant partie du plan d'action 2035 d'Hydro-Québec d'environ 200 milliards de dollars — pour moderniser le réseau, augmenter la capacité hydroélectrique et éolienne, et moderniser les infrastructures.* Dans ce contexte, GE Vernova augmente la capacité de ses installations au Québec pour répondre aux besoins croissants des clients, améliorer la résilience énergétique et assurer la sécurité énergétique à long terme.

Capacité accrue pour l'hydroélectricité

GE Vernova investit 16,2 millions de dollars canadiens pour augmenter la capacité de son usine de fabrication de composants hydroélectriques à Sorel-Tracy. L’investissement de l’entreprise est soutenu par un prêt gouvernemental pouvant atteindre 2,5 M CAD. L’expansion comprend l’agrandissement de la superficie du site d'environ 20 % et l'installation d'un nouvel équipement destinée à la fabrication de composants de grande dimension. Dans le cadre de cette expansion, 28 nouveaux emplois attendus, en plus des 75 emplois qui sont consolidés.

L'installation de Sorel-Tracy est un centre de production de turbines, appuyant des projets hydroélectriques à travers le Canada et dans le monde entier. Avec près de soixante-dix ans d'expertise — remontant à 1957 — le site se concentre désormais sur des composants voués à la modernisation des infrastructures hydroélectriques, contribuant à accélérer la transition énergétique. L'activité Hydro Power de GE Vernova compte aujourd'hui près de cinq cents employés au Canada, dont près de cent à Sorel-Tracy.

L'agrandissement de Sorel-Tracy permettra à GE Vernova de répondre à la forte demande en hydroélectricité, notamment pour les projets de modernisation au Canada. L'hydroélectricité fournit environ 60 % de l'électricité du Canada, mais l'âge moyen des centrales hydroélectriques est de 53 ans. La modernisation de cette flotte sera essentielle pour répondre à la demande croissante avec une énergie plus propre et plus fiable.

“Pour exécuter efficacement ces projets dans une industrie à capacité limitée, GE Vernova a établi une entente de collaboration à long terme avec divers propriétaires d'actifs hydroélectriques, ce qui permettra un engagement précoce et une collaboration étroite entre les entreprises, offrant la visibilité à long terme nécessaire pour planifier, concevoir et sécuriser la chaîne d'approvisionnement des projets. Le carnet de commandes attendu lié à ces accords nécessite l'expansion du site de Sorel-Tracy.” explique Frederic Ribieras, CEO de l’entité Hydro Power de GE Vernova.

GE Vernova et Ontario Power Generation (OPG) ont signé un accord de 15 ans donnant à GE Vernova l'exclusivité pour moderniser jusqu'à 25 unités dans les centrales hydroélectriques d'OPG dans la région de Niagara. Les turbines dédiées à ces projets seront fabriquées à Sorel-Tracy.

Investissements dans la protection du réseau

GE Vernova investit plus de 6 millions de dollars canadiens pour augmenter les capacités de son installation à La Prairie, qui se spécialise dans les équipements haute tension pour la transmission d'énergie, afin de mieux servir le marché nord-américain. Cette expansion intervient alors que l'installation célèbre 60 ans d'innovation continue et d'évolution, soulignant son engagement de longue date à s'adapter aux besoins changeants des clients.

La sécurisation de l'avenir énergétique du Canada dépend de la modernisation significative du réseau électrique national, et cette expansion jouera un rôle essentiel dans cet effort. Les capacités améliorées permettront notamment à Hydro-Québec, un client clé, de faire avancer son ambitieux plan d'action en répondant à la demande croissante de disjoncteurs à réservoir mort — des composants essentiels pour assurer la fiabilité et la résilience du réseau.

Heather Chalmers, CEO Canada, GE Vernova, a dit : “Notre technologie fournit près de 40 % de l'électricité du Canada et ces investissements représentent notre engagement à sécuriser l'avenir énergétique du Canada et à aider nos clients à répondre au doublement de la demande tout en accélérant l'innovation et le développement technologique canadien.”

Les plans de GE Vernova ont été dévoilés lors d'une cérémonie d'inauguration à Sorel-Tracy, en présence de Carlos Leitão, Secrétaire parlementaire de la ministre de l’Industrie pour les régions du Québec, Jean-Bernard Émond, Député de Richelieu, Patrick Péloquin, maire de Sorel-Tracy, et Hubert Bolduc, Président d’Investissement Québec International.

« À travers le monde, GE Vernova est un acteur majeur de la transition énergétique en cours. Grâce à l’accroissement de ses activités à Sorel-Tracy, son projet l’amènera à répondre à la forte demande en hydroélectricité, notamment pour les projets de modernisation au Canada, au bénéfice de l’économie chez nous, dans Richelieu. Je félicite toute l’équipe pour son excellent travail et pour sa détermination à faire de GE Vernova une entreprise prospère de la Montérégie! » Jean-Bernard Émond, député de Richelieu

« Sorel-Tracy occupe une place stratégique dans l’industrie hydroélectrique. C’est à Sorel-Tracy que de nombreuses turbines des grands barrages québécois d’Hydro-Québec ont été construites au 20e siècle. Et des décennies plus tard, c’est à Sorel-Tracy que les grandes turbines québécoises et canadiennes seront modernisées grâce à notre expertise locale reconnue partout dans le monde! Quelle excellente nouvelle! Cet investissement de GE Vernova aura des répercussions positives pour plusieurs entreprises soreloises spécialisées en production de pièces pour le marché de l’hydroélectricité. » Patrick Péloquin, maire de Sorel-Tracy

Au Canada, l'équipe de GE Vernova, composée de plus de 2 400 employés talentueux et soutenue par un héritage de plus de 130 ans, apporte des changements significatifs en soutenant nos clients d'un océan à l'autre avec des solutions de production, transmission, conversion, stockage et orchestration de l'énergie.

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Notes à l’intention des rédacteurs

L’investissement de 16,2 M CAD dans l’installation de Sorel-Tracy représente le montant total investi par GE Vernova pour l’agrandissement du site sur une période de trois ans, entre 2024 et 2026. L’investissement de l’entreprise est soutenu par un prêt gouvernemental pouvant atteindre 2,5 M CAD, dont 1,5 M CAD lié à l’agrandissement de l’usine et à de nouvelles machines de fabrication à grande échelle.

*Selon les projections d’Hydro-Québec et du gouvernement du Québec.

SOREL-TRACY, Canada (August 27, 2025) – GE Vernova Inc. (NYSE: GEV) announced today a plan to invest 22.2M CAD in Quebec factories, for its hydropower Sorel-Tracy and grid La Prairie sites.

With Canada’s energy needs forecasted to double by 2050, and Quebec projecting a demand increase of up to 35% by 2035, the province is moving forward with a $150 billion capital expansion—part of Hydro-Québec’s approximately $200 billion 2035 Action Plan—to upgrade the grid, expand hydropower and wind power capacity, and modernize infrastructures*. In light of this, GE Vernova is expanding its Quebec facilities to meet soaring customer needs, enhance energy resilience, and ensure long-term energy security.

Increased capacity for hydropower

GE Vernova is investing 16.2M CAD to expand capacity at its hydropower manufacturing facility in Sorel-Tracy. The company’s investment is supported by a government loan of up to 2.5M CAD. The expansion includes extending the site square meters by about 20% and installing new equipment meant for large-scale component manufacturing. As part of this expansion, 28 new jobs are expected, in addition to the 75 jobs that are being maintained.

The Sorel-Tracy facility is a hub for advanced turbine production, powering hydropower projects across Canada and around the world. With nearly seventy years of expertise—dating back to 1957—the site now focuses on modernizing critical hydropower infrastructure, helping drive the next generation of sustainable energy. GE Vernova’s Hydro Power business counts almost five hundred employees in Canada today, with almost a hundred in Sorel-Tracy.

The expansion of Sorel Tracy will allow GE Vernova to meet the strong demand for hydropower, especially for modernization projects in Canada. Hydropower supplies around 60% of Canada’s electricity, but the average age of hydropower plants is 53 years old. Modernizing this fleet will be essential to meet the growing demand with sustainable and reliable power.

“To effectively execute on these projects, in a capacity-constrained industry, GE Vernova has established long-term collaboration agreement with various hydropower asset owners, that will enable early engagement and close collaboration between the companies, giving the long-term visibility needed to plan, design, and secure the supply chain for the projects. The expected backlog related to these agreements require the expansion of the Sorel Tracy site.” said Frederic Ribieras, CEO for the Hydro Power business at GE Vernova.

GE Vernova and Ontario Power Generation (OPG) signed a 15-year Framework agreement giving GE Vernova exclusivity to modernize up to 25 units at OPG’s hydropower stations in the Niagara region. The turbines for these projects will be manufactured in Sorel-Tracy.

Investments in grid protection

GE Vernova is investing over 6M CAD to expand capabilities at its La Prairie facility, which specializes in high-voltage equipment for power transmission, to better serve the North American market. This expansion comes as the facility celebrates 60 years of continuous innovation and evolution, underscoring its long-standing commitment to adapting to customers changing needs.

Securing Canada’s energy future depends on significantly modernizing the nation’s power grid, and this expansion will play a critical role in that effort. The enhanced capabilities will notably enable key customer Hydro-Québec to advance its ambitious Action Plan by meeting the growing demand for dead tank circuit breakers—essential components for ensuring grid reliability and resilience.

Heather Chalmers, CEO Canada, GE Vernova, said: “Our technology provides close to 40% of Canada’s electricity and these investments represent our commitment to securing Canada’s energy future and helping our customers meet the doubling of demand while accelerating Canadian innovation and technology development.”

These plans were unveiled at a groundbreaking ceremony in Sorel Tracy, with the presence of Carlos Leitão, Parliamentary Secretary to the Minister of Industry for the regions of Quebec, Jean-Bernard Émond, Member of the National Assembly for Richelieu, Patrick Péloquin, Mayor of Sorel-Tracy, and Hubert Bolduc, Président of Investissement Québec International.

“GE Vernova is a major player in the ongoing energy transition around the world. With growing operations in Sorel-Tracy, the company’s project will be able to meet strong demand for hydroelectric power, particularly for modernization projects in Canada, benefiting the local economy here in Richelieu. Congratulations to the entire team for its outstanding work and its determination to make GE Vernova a successful business in the Montérégie region!” Jean-Bernard Émond, Member of the National Assembly for Richelieu

"Sorel-Tracy occupies a strategic position in the hydroelectric industry. It was in Sorel-Tracy that many of the turbines for Hydro-Québec’s major dams were built in the 20th century. And decades later, it will be in Sorel-Tracy that the large Quebec and Canadian turbines will be modernized thanks to our local expertise recognized around the world! What excellent news! This investment by GE Vernova will have positive impacts for several Sorel-based companies specializing in the production of parts for the hydroelectric market." – Patrick Péloquin, Mayor of Sorel-Tracy

In Canada, GE Vernova’s team of over 2,400 talented employees, backed by a legacy spanning more than 130 years, is driving meaningful change by supporting our customers from coast to coast to coast with power generation, transmission, conversion, storage, and orchestration solutions. 

Notes to editors

The 16.2M CAD investment of the Sorel Tracy facility represents the total amount invested by GE Vernova for the site expansion over 3 years, between 2024 and 2026. The company’s investment is supported by a government loan of up to 2.5M CAD, of which 1.5M CAD is tied to the expansion of the mechanical workshop and to new large-scale manufacturing machinery.

*According to Hydro-Québec’s and the government of Quebec’s projections.

BROSSARD, CANADA (June 26, 2025) GE Vernova Inc. (NYSE: GEV) announced today that it has secured an order from Rio Tinto, one of Canada's largest private producers of hydroelectricity, for the upgrade of eight turbine-alternator units at the Isle Maligne hydropower plant in the Saguenay-Lac-Saint-Jean region of Quebec, Canada. The plant features twelve Francis hydropower units in total.

The modernization of this nearly 100-year-old hydropower plant is expected to enhance the performance of the units and their lifetime for decades to come. It will help Rio Tinto supply energy for its five low-carbon aluminum smelters facility in Saguenay – Lac-Saint-Jean.

Last year, under a previous agreement, GE Vernova modernized one generator at the Isle-Maligne plant. After that, Rio Tinto and GE Vernova made the decision to issue a more holistic approach for the modernization of the remaining eight turbine-alternator units. This larger and longer-term scope will enable early engagement and close collaboration between the two companies. It gives the visibility needed to plan, design, and secure the supply chain, providing Rio Tinto with an optimized project schedule and reduced total cost of ownership, while ensuring efficient and timely project execution. The first unit modernization in expected in 2026 and the last one by 2032.

This project is the result of the longstanding collaboration between Rio Tinto and GE Vernova, which involved work on several hydropower plants located in the province of Quebec, Canada, such as Shipshaw.

Sébastien Ross Managing Director for Atlantic Operations, Rio Tinto Aluminium said: “The Isle-Maligne hydroelectric power plant has been a strategic asset for Rio Tinto for 100 years, drawing on the expertise and dedication of multiple generations of employees and business partners. This major investment to modernise our facilities will ensure the long-term future and competitivity of our low carbon aluminium production in Quebec for decades to come for our Canadian and American customers.’’

Frederic Ribieras, Hydro Power CEO, GE Vernova, said: “This modernization project at the Isle Maligne plant is a testament of how we can achieve greater efficiency and performance without altering the core infrastructure. And, this long-term collaboration will be critical to help secure the supply chain in a capacity-constrained market, with pressure on the industry to execute on many projects.”

Canada has one of the least carbon intensive energy systems in the world, in large part thanks to hydropower, which supplies around 60% of the country’s electricity needs. However, the average age of hydropower plants in Canada is 53 years old. By 2050, electricity demand is expected to double in Canada. Modernizing its existing hydropower fleet will be essential to meet that growing demand with clean and reliable power.

In Canada, GE Vernova’s team of over 2,000 talented employees, backed by a legacy spanning more than 130 years, is driving meaningful change by supporting our customers from coast to coast to coast with power generation, transmission, conversion, storage, and orchestration solutions.

END

Notes to editors

Financial Editors:  Please note this order was booked in the first quarter of 2025.

VADODARA, INDIA (June 6, 2025) – GE Vernova Inc. (NYSE: GEV) announced today that it has commissioned the first of four 250 megawatts (MW) variable speed units at THDC India Limited’s Tehri Pumped Storage Hydropower Plant, part of the Tehri Hydropower Complex. With this 1 gigawatt (GW) expansion, the complex will reach 2.4 GW of generating capacity and become India’s largest hydropower complex. The project’s reservoir will also help provide support with irrigation and drinking water during non-monsoon periods to the state of Uttarakhand, where it is located.

“With this project, Tehri will become India’s first power plant to use variable speed pumped storage technology and the country’s most modern hydropower station. With fast transition between the turbine and pump operation, the four new units are expected to enable power control, leading to significantly improved grid flexibility. These are all crucial capabilities as more renewables are integrated into the country’s energy mix,” said Frederic Ribieras, CEO of GE Vernova’s hydropower business.

Hydropower remains a cornerstone of India's renewable energy landscape, with an installed capacity of approximately 51 GW as of early 2024, positioning the nation as fifth globally in hydroelectric capacity.

Pumped Storage units help stabilize the grid by acting as giant batteries: water is pumped from the lower to the upper reservoir in times of surplus energy and, in times of demand, water from the upper reservoir is released, generating electricity as the water passes through the turbine. This technology is the largest source of long duration energy storage globally, representing about 94%* of total energy storage capacity.

For this project, GE Vernova capitalizes on its broad portfolio of technologies to generate, transfer and store power to deliver a full water to wire solution, spanning from electrical, hydraulic machines to converters. The project includes the integration of the four doubly fed induction motor generators and the associated pump turbines with the power electronics and control systems.

Tehri Hydropower Complex includes:

• 1 GW Tehri Hydropower Plant commissioned in 2006.
• 400 MW Koteshwar Hydropower Plant commissioned in 2012.
• 1 GW Tehri Pumped Storage Hydropower Plant, where GE Vernova is currently delivering four 250 MW Pumped Storage Variable Speed Doubly Fed systems.**

GE Vernova has a substantial presence in India, across generation, transmission and distribution. The company has five Technology and Engineering Centers focused on advancing research, development and innovation in new technologies and solutions. Additionally, the company operates 11 manufacturing sites that are undertaking local production and generating employment. The company’s workforce in India comprises of over 10,000 employees, including more than 3,000 engineers and technologists.

^{*According to the International Hydropower Association.}

^{**Under an order signed in 2011 with Tehri Hydro Development Corporation India Limited (THDC).}

American author and activist Helen Keller once observed that “optimism is the faith that leads to achievement.” Could optimism itself, therefore, be harnessed as a strategy? GE Vernova thinks so. At just one year old, the standalone energy technology company is remaking itself into a key player in the global energy transition.

In Türkiye, demand for electricity is surging. With a growing — and urbanizing — population, the country ranks 15th in the world in annual energy production, outpacing several nations with much larger populations.

Invisible but vital, oxygen flows through water like a lifeline, sustaining aquatic life from the tiniest plankton to the largest fish and maintaining the delicate balance of ecosystems. However, this critical resource is not guaranteed. Oxygen levels in water can decline because of such factors as warming temperatures, increased salinity, stagnation, excess minerals like iron, and agricultural or industrial exploitation.

GREENVILLE, SC  (December 2, 2024) – GE Vernova Inc. (NYSE: GEV) announced today that it has secured an order (3Q’2024) with Dominion Energy South Carolina for the modernization of two hydropower units installed at the Saluda Hydro power plant located on the Saluda River in the Southeastern region of the United States, approximately 10 miles west of the city of Columbia, South Carolina. This modernization project will help extend the lifetime, reliability, performance, and operational flexibility of the power plant that has been generating sustainable and reliable power for almost a century.

This new collaboration builds on the long-lasting relationship between GE Vernova and Dominion Energy across all three GE Vernova business segments, Power, Wind and Electrification. Currently, around 70% of Dominion Energy’s fleet leverages GE Vernova’s technology, which can deliver the electricity needed to power the equivalent of more than 7 million households in the US.

In addition to extending the lifetime and enhancing the performance of the plant, the modernization project will help to better maintain the water quality of the Saluda River by increasing dissolved oxygen (DO) through the implementation of GE Vernova’s patented aerating turbine technology. This new equipment oxygenates the water and ensures a minimum level of oxygen, contributing to protect aquatic life and the state’s natural resources. Aerating turbines is one of many examples demonstrating how innovations are being applied to an established industry like hydropower.

Saluda Hydro is an almost-100-years-old power plant that includes five Francis hydropower units. The plant has been in commercial operation since December 1^st, 1930, and its fifth hydropower unit was added in 1971 to increase the output and capacity of the dam to 206 megawatts (MW). At the time, the hydropower dam was built to support the growth of the textile industry in Columbia through affordable and reliable energy supply, and for water supply, flood control, and recreation purposes. The construction of the dam formed a 48,000 acres reservoir called Lake Murray. Today, Lake Murray is used by many South Carolina residents for fishing, paddling, swimming, and picnicking.

"Our current turbines at Saluda Hydro have performed safely and successfully for more than 90 years," said Dominion Energy Vice President of Generation Iris Griffin. "Investing in their replacement will help maintain the facility's long-term reliability and, most importantly, continue to safely serve our customers for many years to come.”

Frederic Ribieras, Hydro Power CEO, GE Vernova, said: “Our team is delighted to bring its advanced solution to a site that has been serving the state for almost a century. This project shows that through both electricity generation and water management, hydropower can provide many benefits to communities, for a very long time”.

GE Vernova’s scope of work includes the Engineering, Procurement, Construction, and Installation of an aerating turbine to replace the Unit 1 and Unit 3 turbines, as well as the rehabilitation of the Unit 3 generator. The first unit is expected to be retrofitted by 2027. GE Vernova has been developing patented and advanced aerating hydropower turbine technology and has been at the forefront of dissolved oxygen innovation with over 20 years of Research & Development. The company implemented several projects in that space, in the United Stated and beyond, such as the High Rock project in North Carolina.

According to the U.S. Department of Energy (DOE)’s report, hydropower currently accounts for nearly 27% of total US utility-scale renewable electricity generation and 5.7% of total US utility-scale electricity generation.

“As one of the oldest sources of renewable energy in the country, the ~100 gigawatts (GW) installed base is aging, and we see large opportunities for modernization projects to enabling to deliver even more renewable energy into the grid and help accelerate the energy transition in the country,” commented Frederic Ribieras

Notes to editors

Forward Looking Statements:

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

About GE Vernova:

GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Hydro Power business produces advanced technologies that harness the power of water to help deliver reliable power to some of the world's largest economies and remote communities.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Learn more: GE Vernova and LinkedIn.