CAMBRIDGE, Mass. (June 10, 2024) – GE Vernova Inc. (NYSE: GEV) and Seatrium Limited (Seatrium or the Group) today announced that, they have been awarded a third contract by TenneT TSO B.V. (TenneT) for the construction of a 2-gigawatt (GW) High Voltage Direct Current (HVDC) electric offshore transmission system in the Netherlands. The project is slated to begin in June 2024, with commissioning expected by 2031.

This contract is part of the five-year Framework Cooperation Agreement with TenneT announced by the GE Vernova-Seatrium consortium in March 2023. The agreement was signed to cover three projects, each valued at approximately EURO 2 billion: IJmuiden Ver Beta, IJmuiden Ver Gamma, and Nederwiek 2. The current contract is for Nederwiek 2, TenneT’s third project with this consortium. The contracts for IJmuiden Ver Beta and IJmuiden Ver Gamma were awarded to the consortium in March 2023.

The HVDC system will support TenneT's sustainability goal of connecting 40 GW of offshore wind energy in the German and Dutch North Sea and will serve the Nederwiek 2 offshore wind farm, located approximately 95 kilometers off the coast of the Netherlands.

Dr. Johannes Kammer, Associate Director of Large Projects Offshore - 2GW, TenneT, said: “With the successful call-off of Nederwiek 2 from the Framework Cooperation Agreement with our Partners GE Vernova and Seatrium, we are now starting into the delivery of the third project with this consortium. We are pleased with the progress we made already in the first two projects with these partners. Now we experience the benefits of using the works from the initial two projects on the next one as we design one and build it many times.”

GE Vernova's Grid Solutions, the consortium leader, will be responsible for the engineering, procurement, construction, installation, and commissioning (EPCI) of the HVDC converter stations. Seatrium’s scope of work will include the engineering, procurement, construction, transportation, installation, and commissioning of the 2 GW HVDC Offshore Converter Platform.

Mr. Johan Bindele, Head of Grid Systems Integration at GE Vernova’s Grid Solutions business, added: “TenneT is playing a crucial role in the energy transition, and we are honored to support their efforts with our advanced HVDC system. GE Vernova is dedicated to decarbonizing and electrifying the world, and the TenneT projects exemplify our commitment to advancing renewable energy infrastructure.”

Mr. Samuel Wong, Executive Vice President, Fixed Platforms at Seatrium, said: "We are pleased to partner with TenneT and GE Vernova to deliver this transformative offshore wind solution. This project underscores our commitment to helping our customers achieve their renewable energy goals by providing innovative and cost-effective solutions that help accelerate the energy transition. With valuable experience from working on the first two platforms, we are confident of delivering a high-quality end product to our customer, as well as achieving greater synergies through project repeatability in our series-build strategy with the One Seatrium Global Delivery Model.”

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About TenneT
TenneT is a leading European grid operator. We are committed to providing a secure and reliable supply of electricity 24 hours a day, 365 days a year, while helping to drive the energy transition in our pursuit of a brighter energy future – more sustainable, reliable and affordable than ever before. In our role as the first cross-border Transmission System Operator (TSO) we design, build, maintain and operate over 25,000 kilometres of high-voltage electricity grid in the Netherlands and large parts of Germany, and facilitate the European energy market through our 17 interconnectors to neighbouring countries. We are one of the largest investors in national and international onshore and offshore electricity grids, with a turnover of EUR 9.2 billion and a total asset value of EUR 45 billion. Every day our 8,300 employees take ownership, show courage and make and maintain connections to ensure that the supply and demand of electricity is balanced for over 43 million people.

About GE Vernova
GE Vernova Inc. (NYSE: GEV) is a 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 approximately 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. Learn more: GE Vernova and LinkedIn.

GE Vernova’s Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

About Seatrium Limited
Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types.

The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation.

As a premier global player offering offshore renewables, new energies and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality and performance to its customers which include major energy companies, vessel owners and operators, shipping companies, and cruise and ferry operators. Seatrium operates shipyards, engineering & technology centres and facilities in Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, the United Arab Emirates, the United Kingdom and the United States. Discover more at www.seatrium.com. 

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 address GE Vernova and TenneT TSO B.V.'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 business operations, financial results and financial position and on the global supply chain and world economy.

CAMBRIDGE, Mass. (May 28, 2024) – Copenhagen Infrastructure Partners (CIP) and GE Vernova's Onshore Wind division announced today the signing of an agreement worth more than EUR 700 million for the delivery, installation and commissioning of 125 GE Vernova 6.1-158 wind turbines at the Teruel wind project that CIP has been promoting through contracts with the developer in that province and which is expected to start the construction phase shortly. The agreement also includes a 15-year full service contract. The 125 wind turbines will be destined for the Teruel project which, with a combined installed capacity of approximately 760 MW, is expected to become the largest wind farm in Spain, contributing significantly to the acceleration of the energy transition and the decarbonisation of the national electricity system by reducing CO₂ emissions by an expected 320,000 tonnes per year.

CIP has foreseen an investment of around 1 billion euros for the construction of this wind farm, to which a further 1.4 billion euros will be added in operation and maintenance costs throughout the life of the project, according to the socio-economic impact report of the project carried out by an independent consultancy firm.

The order, which was booked by GE Vernova in Q4 of 2023, represents one of the largest contracts for wind projects ever in Spain and is expected to provide a significant boost to the Spanish wind industry.  The project will take advantage of GE Vernova's strong presence in Spain where the Company already has more than 4.3 GW in operation, an engineering center of excellence in Barcelona, and two wind turbine blade production factories. Specifically, the blades for the 125 wind turbines are expected to be manufactured at its plant in Les Coves de Vinromà, Castellón. The wind turbine towers are also expected to be manufactured at other companies' Spanish plants located in Albacete, Burgos and Galicia.

The contract builds on previous agreements through which GE Vernova has previously supplied 490 MW to CIP for onshore wind power in Aragon, Spain.

Vic Abate, CEO of GE Vernova Wind, said: "We are delighted to be able to again support CIP in its goals to bring more wind power online to meet Spain's ambitious renewable energy targets and continue to contribute to the Spanish wind industry. This agreement reinforces how we can use our workhorse product strategy to provide our customers with proven technology that enables them to build high quality, high performance fleets at scale to meet the demands of the energy transition."

Nischal Agarwal, partner at CIP said: "The Maestrazgo cluster is expected to have a very positive socio-economic impact on job creation and on the Aragonese and Valencian economy, but also on the value chain of the entire Spanish wind industry. The wind turbines will be manufactured in production plants located in Spain, such as GE Vernova's plant in Castellón and others from different suppliers in Albacete, Burgos and Galicia, where the towers are expected to be manufactured. The expected impact of investment and job creation figures make the Teruel project a benchmark for the sector in Europe".

The project is only awaiting the Administrative Authorisation for Construction (AAC) in order to start the installation works, with CIP having already committed all the necessary funds to undertake the construction.

The project will enable CIP, which has been developing one of the leading renewable energy project portfolios in Spain for the past five years, to accelerate the achievement of ambitious energy transition targets. In June 2023, the Spanish Ministry for Ecological Transition and Demographic Challenge (MITECO) announced that it aims to produce 62 GW of wind power by 2030, up from a previous target of 50 GW, as part of a broader plan to maximise the amount of the country's electricity generated from renewable sources. In addition, the project is expected to contribute to the maintenance of more than 3,540 jobs, some 400 million euros in taxes, and enough electricity to supply the equivalent of approximately 570,000 homes per year.

GE Vernova's onshore wind business has a total installed base of more than 56,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to customer success for more than two decades, its product portfolio offers proven, next-generation technology that leads with high-power turbines to enable high-quality scale and drive decarbonisation through more affordable and sustainable renewable energy generation. This includes more than 1,200 operational units of its 6 MW platform, the most widely deployed onshore wind turbine among all OEMs offering nameplates above 5 MW.

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About Copenhagen Infrastructure Partners (CIP)
Founded in 2012 in Denmark, Copenhagen Infrastructure Partners (CIP) is today the world's largest fund manager dedicated to renewable energy investments and a global leader in offshore wind. The funds managed by CIP invest primarily in offshore and onshore wind, solar PV, biomass and energy from waste, transmission and distribution, reserve capacity, storage, advanced bioenergy and Power-to-X.

CIP currently manages twelve funds and to date has raised approximately EUR 28 billion for global investments in energy and associated infrastructure from more than 160 international institutional investors. CIP has approximately 500 employees and 12 offices worldwide.

With a presence in Spain for five years and offices and a strong management team in Madrid, CIP has been developing one of the leading portfolios of renewable projects in Spain, in excess of 4 GW. Its portfolio includes the operation and construction of several wind farms in Aragon, including the Monegros project (487 MW of wind power), and some of the most important wind farms in Spain today. It is also the promoter of Catalina, a world-leading large-scale green hydrogen project that will develop combined onshore wind and solar photovoltaic power plants of 1.5 GW and a 500 MW electrolyser, located in Andorra (Teruel), which has just received 230 million euros in the first auction of the European Hydrogen Bank, with CIP having received 66% of the total funds available at European level. This project will position Spain as a pioneer and technological leader in the production and management of green hydrogen. CIP also aims to become a key and very active player in the biogas sector in Spain and is currently developing projects for the production of biomethane in our country. Some of these projects have been declared by the authorities as strategic and of general and regional interest.

For more information, visit www.cip.com

About GE Vernova
GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes power, wind and electrification segments and is backed by its accelerator businesses. With more than 130 years of experience addressing the world's challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety and improved quality of life.

GE Vernova is headquartered in Cambridge, Massachusetts, USA, and has more than 80,000 employees in more than 100 countries around the world. Backed by the company's purpose, Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable and secure energy future. Learn more: GE Vernova and LinkedIn.

GE Vernova's Wind segment is focused on providing a suite of wind products and services to help accelerate a new era of energy by harnessing the power of wind. The business comprises the Offshore Wind, Onshore Wind and LM Wind Power businesses. Technologies provided to customers include the Haliade-X platform, our offshore wind turbine and the next generation 3 megawatt high efficiency onshore wind turbine, as well as maintenance solutions and life extension option.

GE Vernova's mission is embedded in its name: it preserves its heritage, "GE", as a badge of enduring, hard-won quality and ingenuity. "Ver" / "green" points to the lush green ecosystems of the Earth. "Nova", from the Latin "novus", nods to a new and innovative era of low-carbon energy.

Forward Looking Statements
This document contains forward-looking statements, which are statements regarding future events that, by their nature, address matters that are, to varying degrees, uncertain. These forward-looking statements often address the expected future business and financial performance and financial condition of GE Vernova and CIP, and the expected performance of their products, the impact of their 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 varying 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 business operations, financial results and financial position and on the overall supply chain and the world economy. More information.

In 2009, the United States Department of Energy was seeking a dose of radical thinking. Early that year, its newly created Advanced Research Projects Agency–Energy (ARPA-E) issued an open call for “the most revolutionary energy technologies.” If ARPA-E officials were expecting a steady trickle of ideas from business, academia, and research laboratories, they were wrong. They’d just opened the floodgates.

ACTUACIÓN COFINANCIADA POR EL GOBIERNO VASCO (DEPARTAMENTO DE DESARROLLO ECONÓMICO, SOSTENIBILIDAD Y MEDIO AMBIENTE) Y LA UNION EUROPEA A TRAVÉS DEL FONDO EUROPEO DE DESARROLLO REGIONAL 2021-2027 (FEDER)

El proyecto de I+D realizado por GE Power Management, S.L. titulado “Optimización del diseño de la red eléctrica y sus componentes para minimizar el impacto ambiental del consumo eléctrico” ha sido cofinanciado por el Gobierno Vasco y la Unión Europea a través del Fondo Europeo de Desarrollo Regional 2021-2027 (FEDER).

OPTIAM es un proyecto que tiene como objeto desarrollar equipos eléctricos innovadores integrando criterios de ecodiseño y herramientas digitales de planificación energética con carácter prospectivo que faciliten la toma de decisiones en el despliegue de nuevos proyectos de generación, distribución y almacenamiento.

Se trata de un proyecto de colaboración de investigación industrial de carácter estratégico plurianual (2023-2025) en la que participan las siguientes entidades y/o agentes de la Red Vasca de Ciencia, Tecnología e Innovación: ORMAZABAL Y COMPAÑÍA, S.L. (líder), INGETEAM POWER TECHNOLOGY, S.A., PRONUTEC, S.A., ACLARA METERS, S.L., GE POWER MANAGEMENT, S.L., EQUIPOS ELÉCTRICOS, S.L., INGURUMENAREN KIDEAK INGENIERÍA, S.L., Fundación Tecnalia Research and Innovation, Ormazabal Corporate Technology, A.I.E., INGETEAM R&D EUROPE, S.L.

Proyecto n.º: ZE-2023/00041

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OPTIAM proiektua

EUSKO JAURLARITZAK (EKONOMIAREN GARAPEN, JASANGARRITASUN ETA INGURUMEN SAILA) ETA EUROPAR BATASUNAK 2021-2027 ESKUALDE GARAPENERAKO EUROPAR FUNTSAREN (EGEF) BITARTEZ KOFINANTZATUTAKO ERAGIKETA

GE Power Management, S.L, ak eginiko “Optimización del diseño de la red eléctrica y sus componentes para minimizar el impacto ambiental del consumo eléctrico” izeneko I + G proiektua, Eusko Jaurlaritzak eta Europar Batasunak 2021-2027 Eskualde Garapenerako Europar Funtsaren (EGEF) bitartez kofinantzatutako eragiketa da.

OPTIAM ekipamendu elektriko berritzaileak garatzea helburu duen proiektu bat da, ekodiseinu irizpideak eta etorkizuneko energia planifikatzeko tresna digitalak integratuz, sorkuntza, banaketa eta biltegiratze proiektu berrien hedapenean erabakiak hartzea errazten dutenak.

Ikerketa industrialeko urte anitzeko (2023-2025) lankidetza-proiektu estrategikoa da, eta Zientzia, Teknologia eta Berrikuntzaren Euskal Sareko erakunde eta/edo eragile hauek hartzen dute parte: ORMAZABAL Y COMPAÑÍA, S.L. (liderra), INGETEAM POWER TECHNOLOGY, S.A., PRONUTEC, S.A., ACLARA METERS, S.L., GE POWER MANAGEMENT, S.L., EQUIPOS ELÉCTRICOS, S.L., INGURUMENAREN KIDEAK INGENIERÍA, S.L., Fundación Tecnalia Research and Innovation, Ormazabal Corporate Technology, A.I.E., INGETEAM R&D EUROPE, S.L.

Proiektua: ZE-2023/00041

Les entités légales du groupe GE en France employant entre 50 et 2700 salariés ont publié les résultats de l’Index de mesure de l'égalité professionnelle entre les femmes et les hommes pour l’année 2023.

Pour agrandir l’image, prière de cliquer sur le lien de téléchargement à droite de la section.

GE fait de la diversité en général, et de l’égalité entre les femmes et les hommes en particulier, un axe fondamental de sa stratégie de Ressources Humaines et un enjeu majeur pour le développement de ses activités, en partenariat avec des associations reconnues de la promotion des Femmes dans l’Industrie, notamment Elles bougent, Femmes Ingénieures et le réseau interne GE Women’s Network.

GE continuera d’accompagner l’ensemble de ses entités en France, afin d’améliorer ces résultats et de poursuivre ses actions en faveur de l’égalité femmes-hommes et de l’accès des femmes aux plus hautes fonctions de l’entreprise.

A propos de l’Index Egalité Femmes-Hommes
Sous la forme d’une note sur 100, cet index se compose de cinq grands indicateurs qui évaluent les inégalités. Le premier indicateur mesure les écarts de rémunération existants au sein de l’entreprise. Les deuxième et troisième indicateurs comparent respectivement la répartition des augmentations individuelles entre les femmes et les hommes et la répartition des promotions (*). Le quatrième indicateur est relatif à l’augmentation des rémunérations des femmes à leur retour de congé de maternité. Enfin, le dernier indicateur porte sur l’équilibre des genres au sein des dix plus hautes rémunérations de l’entreprise, avec une cible d’au moins quatre femmes. La loi prévoit que chaque année, les entreprises françaises de plus de 50 salariés publient auprès de l’administration du travail et dans l’entreprise le score obtenu à l’index d’égalité femmes-hommes. S’il est inférieur à 75 sur 100, elles ont trois ans pour se mettre en conformité.

(*) La répartition des promotions est calculée uniquement dans les entreprises de plus de 250 salariés.

SHEFFIELD, South Yorkshire: March 21, 2024 - GE Vernova’s Nuclear business, GE Hitachi Nuclear Energy (GEH), met with potential UK suppliers in Sheffield yesterday to discuss opportunities associated with the UK deployment of the BWRX-300 small modular reactor (SMR).

More than 150 UK-based businesses covering all elements of the nuclear supply chain – from manufacturing, construction and engineering – participated in the all-day conference with guest speakers including South Yorkshire Mayor Oliver Coppard and representatives from the Nuclear Industry Association and Synthos Green Energy (SGE), an investor and developer from Poland.

The event was hosted by the Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) in Rotherham and included presentations on the BWRX-300, how deployment can help contribute to the Government’s target of 24 GW of new nuclear capacity by 2050, associated supply chain opportunities and the benefits of supply chain localization.

Sean Sexstone, Executive Vice President, Advanced Nuclear, GEH said: “Our BWRX-300 SMR technology is an ideal solution for meeting the UK’s decarbonization and energy security goals. It is based on tried, tested and reliable technology and partners in Canada, the US and Poland are already investing in our technology. We believe this makes our reactor the lowest risk and highest reward choice for Great British Nuclear. We have assembled a first-class team to deliver the BWRX-300 in the UK and we look forward to working with the local companies who have attended today’s conference as we continue to develop a robust UK supply chain.”

Oliver Coppard, Mayor, South Yorkshire said: “In South Yorkshire we are determined to be at the heart of the next energy revolution. Not simply because we’re building on our history at the heart of the first and second industrial revolutions, but because our wealth of talent, creativity and innovation will put us at the centre of the coming industrial and green economy revolutions. We’re investing in our infrastructure. We’re home to the world’s first Advanced Manufacturing District. We’ve got a plan for good growth focussed on a corridor of high skills, high pay, high tech and high productivity. And we’ve got a Skills strategy that will give our people the opportunity to stay near and go far. “

Andrew Storer, CEO, Nuclear AMRC said: “We’re delighted to bring together the UK’s nuclear manufacturers with GE Hitachi to discuss the opportunities around the BWRX-300 and help launch supply chain engagement for this nationally important programme. An SMR programme in the UK will present huge opportunities for the domestic supply chain, and information-sharing and networking event like this are an essential first step to maximizing UK content and making the most of the economic benefits of investment in low-carbon power.”

Tom Greatrex, Chief Executive Officer, Nuclear Industry Association said: “SMRs like the BWRX-300 will be vital in the UK’s efforts to strengthen energy security and meet net zero goals by providing reliable, clean power 24/7. The impressive turnout at today’s conference shows there is real appetite in the supply chain for these new exciting nuclear projects and is testament to the work being done by GE Hitachi Nuclear Energy to deliver its goal to develop here in the UK."

The UK Government has ambitions for 24 GW of nuclear energy by 2050 to help in providing energy security for the UK and for meeting net zero. It was recently announced that GEH been awarded a £33.6 million UK Future Nuclear Enabling Fund (FNEF) grant from the Department for Energy Security & Net Zero (DESNZ). In conjunction with this grant, GEH has entered the Generic Design Assessment (GDA) process for the BWRX-300.

There is significant global interest in the BWRX-300. In Canada, Ontario Power Generation (OPG) has partnered with GEH to deliver the BWRX-300 at the Darlington site, along with AtkinsRéalis and Aecon Construction Group. OPG's decades of operating experience and proven track record of delivering on-time, on-budget nuclear refurbishment, combined with GEH's nuclear expertise, sets the stage for success in advancing the energy landscape in other regions.

The Province of Ontario is working with OPG on planning and licensing for three additional BWRX-300s at the Darlington site. OPG, Tennessee Valley Authority, Synthos Greeen Energy and GEH are teaming up to invest in the development of the BWRX-300 standard design and detailed design for key components.

GE has a long and deep history in the UK, with a presence dating back 130 years. GE’s energy businesses employ more than 2,500 people at 11 sites across the country, with approximately 35 percent of the country’s electricity currently powered by its technology