Teesside, the urban region perched on the muddy banks of the River Tees in northeast England, used to be a global beacon of industry. In the mid-19th century, the port of Middlesbrough forged its reputation as “Ironopolis,” boasting nearly 100 blast furnaces that roared away round the clock.

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.

Accra, Ghana (November 21, 2024) - In a major advancement for Ghana’s energy infrastructure, the President of the Republic commissioned the Ghana Bridge Power Project yesterday Nov. 19 2024. This modern facility represents a significant milestone in Ghana’s commitment to expanding its power generation capacity while improving fuel efficiency and environmental sustainability. The project is to construct an up to 515MW power plant with a projected cost of $1.2 billion at Kpone, in the Heavy Industrial Area of Ghana.

Bridge Power Project is expected to meet a significant portion of Ghana’s power needs  by contributing more than 7% of the nation’s dependable thermal generating capacity. This significant addition to Ghana’s energy mix can play a crucial role in meeting the increasing demand for power across the nation, supporting both residential needs and industrial growth.

This combined cycle power plant features a first-of-its-kind configuration that uses GE Vernova’s trailer mounted aeroderivative gas turbines, a steam turbine and a Heat Recovery Steam Generator (HRSG) to generate up to 40% more electricity from the same amount of fuel compared to traditional single-cycle plants. By converting what would otherwise be lost as waste heat, this plant improves fuel efficiency while significantly reducing emissions, making it an important step in Ghana’s journey toward energy solutions that generate less carbon emissions.

The celebration of the start of operation of Bridge Power Station marks a first of this kind globally. Five GE Vernova trailer mounted TM2500* aeroderivative gas turbine solutions, and a steam turbine installed at the plant in a combined cycle configuration mark the first-time trailer mounted aeroderivative gas turbines are used in a combined cycle configuration globally. 

Powered by natural gas as primary fuel, the Bridge Power Station can deliver up to 200 Megawatts and it is engineered to be one of the most operationally flexible combined cycle plants in Ghana.

It is owned and developed by Endeavor Energy, a leading US independent power producer focused on Africa and Andaris Energy Limited, a wholly owned Ghanaian energy investment company (collectively, the Sponsors). Endeavor Energy was founded in 2013 to work with host Governments on Just Energy Transition programs to meet  baseload energy demands in West African countries. Endeavor is owned by Denham Capital, Fund VI, an energy and natural resources-focused global private equity fund. Endeavor Energy and its co-sponsors have invested a total of $1.2 billion in Ghana’s energy sector, including the 200MW Amandi TCE Power Plant at Aboadze in Takoradi. The Stage 1 project cost of $611 million was wholly funded by the sponsors and lenders.

The project will sell power to the Electricity Company of Ghana (ECG) under a 25-year Power Purchase Agreement (PPA) backed by a Put Call Option Agreement (PCOA) with the Government of Ghana (GoG). The PPA and PCOA agreements were approved by the Ghanaian Parliament and executed in September 2016, with financial close occurring on November 22, 2018. Under the PCOA, the GoG guarantees certain obligations of ECG in the event of a termination of the PPA by either party. This is the first time this innovative financing arrangement was used in Ghana. Under the PPA, the Project is to deliver power in stages:

• Stage 1, a 200MW combined cycle gas turbine (CCGT) power plant comprises five (5) GE Vernova TM 2500 gas turbines , five (5) once through steam generators (OTSGs), one (1)  steam turbine unit, an air-cooled condenser (ACC) and associated balance of plant. Construction was started in December 2018 by the EPC Contractor, Metlen, formerly Power Projects Sanayi Insaat Ticaret Limited Sirketi (Metka). It was completed and delivered to ECG for commercial operations on 18th July 2024.
• Stage 2, also a CCGT power plant, has a Target Effective Date of September 2025 and a 48-month construction schedule, commercial operations date (COD) is estimated for September 2029. Stage 2 output will be up to 315MW.

GE Vernova’s scope also includes a 25-year service agreement, and Asset Performance Management (APM) software running in the cloud, helping ensure the long-term availability and reliability of the power plant’s gas turbines to support Ghana’s increasing energy demands. APM is a suite of software and services engineered to help optimize asset performance and O&M efficiency across equipment, the plant, and the entire fleet. The portfolio’s application for Reliability, powered by Predictive Analytics, is expected to improve asset productivity to help address the long-term energy security needs in the country.

Notes to editors

*Trademark of GE Vernova and/or its affiliates

**The exhaust is net-zero with respect to CO2; the only CO2 present is from ambient air.

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 Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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.

For more information, contact:

Maanaa Asiedu
Early Power Limited
maanaa.asiedu@earlypowerltd.com.

Baku, Azerbaijan (November 20, 2024) – On the sidelines of COP 29, GE Vernova Inc. (NYSE: GEV) announced today that the LM6000* gas turbine, included in the GE Vernova LM6000VELOX* packaged solution is planned to operate on 100 percent hydrogen at the Whyalla hydrogen power plant in the Upper Spencer Gulf, South Australia. GE Vernova announced it has secured an order with ATCO Australia for four LM6000VELOX units with commissioning expected in early 2026. It is projected to mark the first time a GE Vernova power plant project, at commercial scale, is powered by aeroderivative gas turbine combustion technology capable of operating on 100 percent hydrogen.

GE Vernova’s first-of-its-kind aeroderivative gas turbine solution is capable to be powered by renewable hydrogen generated at the Whyalla complex helping to produce zero CO₂ at the gas turbine exhaust during operation when fueled with 100% renewable hydrogen**. The site will include one of the world’s largest hydrogen production and storage plants. When completed, the Whyalla hydrogen facility will utilize South Australia’s surplus renewable energy, generated by large-scale wind and solar farms, to produce renewable hydrogen that will be stored and used to power the four LM6000VELOX units.

“GE Vernova has been investing over the years in R&D to advance the capabilities of its combustion systems to burn higher blends of hydrogen. We are proud to unveil our first 100 percent hydrogen-ready aeroderivative gas turbine solution to support our customers’ decarbonization goals while maintaining grid reliability, which requires the deploying of renewable and conventional power technology in tandem,” said Eric Gray, CEO of GE Vernova’s Gas Power business. “The South Australian Government, through our project partner ATCO Australia, selected GE Vernova as the preferred equipment supplier for its Hydrogen Jobs Plan, and we are honored to work with ATCO Australia and BOC in this first-of-its-kind project, which is a major step in support of South Australia’s renewable energy future.”

Whyalla hydrogen power plant aims to be a new source of flexible power, providing additional grid stability for homes and businesses around the state by utilizing excess renewable energy generated from large-scale wind and solar farms to provide a consistent output of supply. The power plant is expected to deliver a combined capacity of up to 200 megawatts (MW) and tohelp meet electricity demand while ensuring stability of electricity supply in South Australia’s electricity grid during periods when renewable energy sources are not available or are not meeting full demand.

The announcement was made during a signing ceremony at COP 29 attended by Ramesh Singaram, President and CEO of Asia, Gas Power, GE Vernova together with The Hon Peter Malinauskas, Premier of South Australia and John Ivulich, CEO and Country Chair, ATCO Australia.

“GE Vernova is one of the most recognizable brands in the world and has a proven reputation as a supplier of power infrastructure,” said the Premier of South Australia Peter Malinauskas. “More importantly, GE Vernova is capable of producing turbines that can operate at 100 percent capacity on hydrogen. This means we can harness South Australia’s incredible renewable resources and put it to productive use, helping develop a more sustainable electricity supply across our State.”

“With more than 70 percent of energy generated from renewable resources, South Australia is set to become a global leader in producing and utilizing renewable hydrogen and we are delighted to be part of this project that can unlock decarbonization opportunities,” said John Ivulich, CEO and Country Chair, ATCO Australia. “By deploying GE Vernova’s first-of-its-kind aeroderivative solution, able to operate on 100 percent hydrogen, we will support South Australia’s continued energy transition and decarbonization journey, in alignment with the State’s goals outlined in the Government’s Hydrogen Jobs Plan.”

GE Vernova is a world leader in gas turbine fuel flexibility, including over 120 gas turbines that have the capacity to operate or currently are operating on fuels that contain hydrogen, producing more than 530 Terawatt-hours of electricity over 8.5 million hours. GE Vernova’s technology portfolio includes integration capabilities of several systems including renewable power (e.g., wind and solar), energy storage, grid systems to transmit and control electricity, as well as power conversion systems to provide electricity that match the electrolyzer requirements.

Financial Editors:  Please note this order was booked in the third quarter of 2024.

###

Notes to editors

*Trademark of GE Vernova and/or its affiliates

**The exhaust is net-zero with respect to CO2; the only CO2 present is from ambient air.

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 ATCO Australia and Canadian Utilities
Canadian Utilities Limited and its subsidiary and affiliate companies – including ATCO Australia - have approximately 8,000 employees and assets of $23 billion. Canadian Utilities, an ATCO company, is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions in Utilities (electricity and natural gas transmission and distribution, and international operations); Energy Infrastructure (energy storage, energy generation, industrial water solutions, and clean fuels); and Retail Energy (electricity and natural gas retail sales, and whole-home solutions). More information can be found at www.canadianutilities.com.

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 Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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.

The term “energy transition” might conjure up an image of steady technological change, with grids gradually replacing carbon-emitting fossil fuel plants with more sustainable renewables. But this narrative of a straight swap only tells half of the story. The other part of the energy transition phenomenon is the expansion of energy demand, on a massive scale.

SANTIAGO, CHILE (12 de julio de 2024) – GE Vernova Inc. (NYSE: GEV) anunció hoy que ha conseguido un pedido con Transelec Holdings Rentas Ltd, proveedor líder de sistemas de alta tensión en Chile, para suministrar condensadores síncronos y subestaciones de alta tensión para los proyectos Ana María y Monte Mina en el norte de Chile. Estos dos proyectos formaban parte de una licitación para el "Control de Tensión por Aporte de Corriente de Cortocircuito", que integra el plan del Gobierno chileno para apoyar la transición energética y la descarbonización del país.

Un condensador síncrono es un gran generador rotativo que mejora la regulación de la tensión y proporciona seguridad energética, y apoyo y estabilización a la red. Dado que la generación de energía eólica y solar está aumentando en la zona norte de Chile, los condensadores síncronos serán fundamentales para permitir la incorporación de más energía renovable a la red, proporcionando inercia y ayudando a evitar el riesgo de apagones.

Con estos proyectos, el negocio Hydro Power de GE Vernova suministrará dos condensadores síncronos para el proyecto Ana María y otros dos para el proyecto Monte Mina. El alcance de los trabajos también incluye la ingeniería, los auxiliares eléctricos y mecánicos, el sistema de control, el sistema de protección, la supervisión de montaje en obra y la puesta en marcha. Adicionalmente, la división Grid Solutions de GE Vernova suministrará la subestación de alta tensión de 220 kV, que incluye ingeniería eléctrica, transformadores, GIS (Gas Insulated Substation), sistema de protección y control (solución digital), pruebas y puesta en marcha para conectar la isla de condensadores síncronos con los sistemas de transmisión. Se prevé que la operación comercial de la extensión del proyecto comience en 2027.

“GE Vernova se ha comprometido a ayudar a acelerar la transición energética en América Latina desde hace mucho tiempo y creemos que el condensador síncrono es una tecnología clave para ayudar con los desafíos de la red", dijo Frederic Ribieras, CEO de Hydro Power, GE Vernova.  “GE Vernova tiene una gran experiencia y base instalada para este condensador síncrono, que tiene similitudes con la ingeniería de un generador hidroeléctrico. Además, tenemos la capacidad de fabricación y el conocimiento para producirlo en nuestra fábrica de Taubaté, Brasil”.

En los últimos siete años, GE Vernova también ha suministrado siete condensadores síncronos en Brasil. Este pedido en Chile sigue a un proyecto similar que la empresa acaba de anunciar en Estados Unidos, donde se suministrarán cuatro condensadores síncronos para ayudar a mejorar la estabilidad de la red en el norte del estado de Nueva York.

"La cartera de alta tensión de GE Vernova y los sistemas flexibles de transmisión de corriente alterna son clave para aprovechar la transición energética, facilitando la expansión y modernización de la red", dijo Johan Bindele, jefe de Integración de Sistemas de Red en el negocio de Soluciones de Red de GE Vernova.  "Como un actor confiable con presencia en Chile de casi un siglo, GE Vernova es un actor activo en el plan de transición energética determinado para la región, con una amplia cartera de soluciones avanzadas”.

GE Vernova mantiene un alcance global y la escala necesaria para liderar la transición energética hacia un futuro electrificado y descarbonizado. En América Latina, con aproximadamente 6.600 empleados trabajando en toda la región, GE Vernova está al servicio de sus clientes proporcionando soluciones, como las suministradas a Transelec en Chile, para crear un sistema de energía eléctrica más fiable y sostenible, apuntalando el progreso y la prosperidad de las comunidades donde operamos.

###

Sobre GE Vernova
GE Vernova es una empresa global de energía planificada y construida a propósito que incluye los negocios de Energía, Eólica y Electrificación y cuenta con el apoyo de sus negocios aceleradores. Sobre la base de más de 130 años de experiencia abordando los desafíos del mundo, GE Vernova está en una posición única para ayudar a liderar la transición energética mediante la continuación de la electrificación del mundo mientras se trabaja simultáneamente para descarbonizarlo. GE Vernova ayuda a sus clientes a alimentar las economías y suministrar electricidad que es vital para la salud, la seguridad y la mejora de la calidad de vida. GE Vernova tiene su sede en Cambridge, Massachusetts, EE.UU., con aproximadamente 75.000 empleados en más de 100 países de todo el mundo.

La división Hydro Power de GE Vernova produce tecnologías avanzadas que aprovechan el poder del agua para ayudar a suministrar energía fiable a algunas de las mayores economías y comunidades remotas del mundo. El negocio Grid Solutions de GE Vernova electrifica el mundo con tecnologías y sistemas de red avanzados, permitiendo la transmisión y distribución de energía desde el punto de generación hasta el punto de consumo, y apoyando una transición energética descarbonizada y segura.

La misión de GE Vernova está incrustada en su nombre: conserva su legado, "GE", como distintivo perdurable y duramente ganado de calidad e ingenio. "Ver" / "verde" alude a los ecosistemas verdes y exuberantes de la Tierra. "Nova", del latín "novus", alude a una nueva e innovadora era de energía con menos emisiones de carbono. Con el apoyo del propósito de la empresa, La energía para cambiar el mundo, GE Vernova contribuirá a ofrecer un futuro energético más asequible, fiable, sostenible y seguro.

Más información:  GE Vernova y LinkedIn.

Para requerimiento de prensa, por favor contactar a: 

Bernard Dagher, who heads up growth and strategy for the Middle East and Africa (MEA) at GE Vernova’s Grid Solutions business, often reminds people why there are almost no landlines in Africa. As the story goes, cell phones arrived on the vast continent before it had strung up the thousands of miles of telephone wires needed for landlines.

Dammam, SAUDI ARABIA (June 24, 2024): GE Vernova, Inc. (“GE Vernova”) (NYSE: GEV) today announced it has secured an order for six 7HA.03 gas turbines and two 7E.03 gas turbines from the engineering, procurement, and construction (EPC) company SEPCOIII Electric Power Construction Co., Ltd. (SEPCOIII), for two new power plants: Taiba 1 located in the western region of Saudi Arabia, around 100 km southeast of Madinah city, and Qassim 1 located in the central region around 30 km southeast of Buraydah city. This equipment order was booked in March 2024 and reflected in the company’s first quarter earnings announcement. In addition to the equipment order, GE Vernova today also announced the signature of a 21-year service agreement to support plant operations with Riyadh-headquartered ACWA Power’s wholly owned subsidiary, National Operations & Maintenance Company (NOMAC).

The projects are aligned to Saudi Arabia’s goals to generate about half its electricity from renewable energy sources and half from gas by 2030, paving the way to net-zero greenhouse gas (GHG) emissions by 2060.

Taiba 1 and Qassim 1 plants, to be powered by GE Vernova’s most advanced gas turbines, are expected to deliver up to 3.8 gigawatts (GW) of electricity to the grid in total, a capacity equivalent to what would be needed to power the energy needs of approximately 1.2 million homes in Saudi Arabia. Expected to be completed in 2027, they are anticipated to be among the most efficient power plants in the Kingdom and can be configured with post-combustion carbon capture systems to significantly reduce carbon dioxide emissions. In addition, 7HA.03 gas turbines currently have the capability to burn up to 50% by volume of hydrogen when blended with natural gas.

“The development of Taiba 1 and Qassim 1 plants is a very ambitious project, and we are proud to support it,” said a spokesperson of SEPCOIII. “We are also excited to work with GE Vernova to evaluate how carbon capture solutions could potentially be integrated with these gas power plants to help lower emissions. We expect to see increased longer term demand for gas plants integrated with carbon capture technologies, which is key to reducing emissions from fossil fuels and helping fight climate change.”

GE Vernova has contributed to the development of the Kingdom’s energy infrastructure for almost 90 years, supporting economic diversification, localization, high value exports, and talent development efforts and still does so today in support of Saudi Vision 2030. Today, the company employs approximately 580 people in Saudi Arabia. GE Vernova’s investments in the Kingdom include the GE Manufacturing and Technology Center (GEMTEC) campus in Dammam, which encompasses a Service and Repairs Center for gas turbines, the GE MENA Decarbonization Center of Excellence, a Monitoring & Diagnostics Center for the remote monitoring of power generation assets, as well as GE Saudi Advanced Turbines (GESAT), a joint investment with Dussur for gas turbines and components in Saudi Arabia. Four of the H-class gas turbines equipping the plants are planned to be rolled out from GESAT, making them the first 7HA.03 units to be completed locally in the Kingdom.

“This project, which marks our largest single order for 7HA.03 gas turbines to date in the region, is expected to open up a new chapter for gas power generation in Saudi Arabia,” said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. “As an innovation leader in the path towards decarbonization, we are proud of developing our first 7HA.03 project at GESAT and boosting the localization of the gas turbines industry in Saudi Arabia, in alignment with the Kingdom’s goals for more diversified and sustainable economic growth. We are delighted to team with SEPCOIII and ACWA Power’s NOMAC to deploy our most advanced power generation technologies, services, and proven expertise in natural gas combined cycle plant engineering, operability, and plant integration, to support the transition to a lower-carbon energy future.”

Under the 21-year service contract signed with NOMAC, GE Vernova plans to deliver maintenance and repairs, supply of parts. In addition, GE Vernova’s Monitoring & Diagnostics Center is expected to oversee the real-time operating conditions and provide remote diagnostics tools using digital analytics technology.

“We have developed a productive and successful role-model relationship with GE Vernova that will enable our collective organizations to deliver meaningful innovation and energy contributions to the Kingdom of Saudi Arabia,” said Marco Arcelli, ACWA Power CEO. “With today’s signing of this contract, we mark not only a milestone in our cooperation but pave the way to future collaborations for the safer, more reliable, and more sustainable production of electricity in the Kingdom.”

GE Vernova spun-off from GE (NYSE: GE) and began trading as an independent company on the New York Stock Exchange (NYSE) on April 2, 2024. With approximately 55,000 wind turbines and 7,000 gas turbines, GE Vernova's technology base helps generate about 25% of the world's electricity and has a meaningful role to play in the energy transition in Saudi Arabia and around the globe.

###

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 Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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.

Kentucky’s Mill Creek Generating Station sits on more than 500 acres along the Ohio River, about 20 miles south of Louisville. For generations, the river has been the region’s lifeblood, transporting millions of tons of coal to Mill Creek and dozens of other power plants lining its banks, from Pennsylvania to Illinois.

The sheer spectacle of Niagara Falls, spanning the border between Ontario, Canada, and New York State, on the U.S. side, has thrilled sightseers for centuries.