Making good on their nickname, Sunbelt States from Georgia to Arizona are building lots of new solar these days. Texas is currently leading the way, but plenty of other states are cranking up their growth. In the past 12 months, Mississippi has grown solar 73%, and Louisiana has been even more aggressive, hitting 90%, according to the Energy Information Administration.

In the early hours of October 25, 2023, residents of Acapulco watched Hurricane Otis gather strength offshore. Forecasts had suggested a manageable storm. Instead, within less than 12 hours, Otis intensified from a Category 1 to a Category 5, with gusts exceeding 165 miles per hour.

How does one of the world’s fastest-growing economies keep the lights on while rewiring its future to meet the needs and goals of a net-zero world? This is the question being asked today in Vietnam, a nation at an exciting crossroads, balancing rapid economic growth with the imperative to build a cleaner, more resilient energy system.

Getting huge infrastructure projects built requires resources, patience, technical know-how, and a certain amount of ambition. In the case of Aula Energy’s newest wind farm, in remote South Australia, it also took teamwork among a diverse group of experts from various organizations who had to coordinate everything from building new roads to studying unlikely power outages under a tight deadline.

TOKYO, JAPAN – ATLANTA, GA (March 18, 2026) – IHI Corporation (IHI) and GE Vernova Inc. (NYSE: GEV) announced today that they have successfully tested 100% ammonia combustion for GE Vernova’s F‑class gas turbines. Emission levels achieved during the test align with the companies’ development roadmap towards the goal of a 100% ammonia-fired gas turbine, with the aim of achieving commercial deployment by 2030.

“An essential piece of the ammonia value chain is now coming into place,” said Noriaki Ozawa, IHI Managing Executive Officer and President of Resource, Energy & Environment Business Area. “Since the signing of the joint development agreement in 2024, the collaboration between our two companies has gained strong momentum, with the efforts of both teams now bearing fruit. The successful achievement of 100% ammonia combustion in a full-scale F-class gas turbine marks a major milestone and helps reinforce the decarbonization roadmap envisioned by our customers in the power sector.”

The demonstration was conducted at IHI’s purpose-built test facility, engineered to replicate GE Vernova’s F-class gas turbine operating conditions.

“The successful demonstration of running an F‑class gas turbine on 100% ammonia fuel marks a pivotal step in our journey toward a lower‑carbon energy future,” said Jeremee Wetherby, GE Vernova’s Carbon Solutions leader. “This achievement reinforces our development roadmap and underscores the strength of our collaboration with IHI. We see significant potential for ammonia as a carbon‑free combustion fuel and are energized to continue working together to help unlock its role in advancing global decarbonization.”

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Notes to editors

*Decarbonization as used in this article is intended to mean the reduction of carbon emissions on a kilogram per megawatt hour basis.

Ammonia is utilized today in industrial applications such as the production of fertilizer.  When used as a carrier for hydrogen, ammonia enables a more efficient and lower-cost pathway for transport and storage. In addition, ammonia is expected to be utilized directly in power generation as a carbon-free fuel, since ammonia contains no carbon, it does not emit carbon dioxide when burned and may therefore enhance the power sector’s efforts in reducing carbon emissions. (Note:  any air-based combustion, even if operating on a carbon free fuel, will emit a trace amount of carbon dioxide based on the concentration of CO₂ in the atmosphere.)

About IHI

IHI is dedicated to creating Value Chains that generate new value for customers, originating from the establishment of Japan’s first modern shipyard in 1853. It leveraged its shipbuilding technology to expand into onshore machinery, bridge, plant, aero-engine, and other manufacturing fields. IHI has provided an array of solutions in recent years. These are principally in the Resource, Energy and Environment; Social Infrastructure; Industrial Systems and General-Purpose Machinery; and Aero Engine, Space and Defense business segments. In power generation, the Company manufactures boilers and gas turbines for thermal power plants. It is developing technology for ammonia firing and is constructing carbon-free fuel ammonia supply chain to help decarbonize the economy. Click below for more information about IHI.

https://www.ihi.co.jp/en/

Media inquiries

Yusuke Saito
Corporate Communication Division,
IHI Corporation
saito4137@ihi-g.com

TOKYO (March 14, 2026) – GE Vernova (NYSE: GEV) and Hitachi, Ltd. (TSE: 6501, “Hitachi”) have entered into a Memorandum of Understanding (MoU) to explore opportunities to deploy the BWRX-300 small modular reactor in Southeast Asia. The agreement was signed during the Indo-Pacific Energy Security Ministerial & Business Forum in Tokyo in the presence of U.S. Secretary of the Interior Doug Burgum and Japan’s Ministry of Economy, Trade and Industry (METI) Minister Ryosei Akazawa.

The two companies agree to collaborate through the GE Vernova Hitachi Nuclear Energy and Hitachi GE Vernova Nuclear Energy joint ventures to identify commercial opportunities for the BWRX-300 in Southeast Asia. The collaboration will also explore opportunities to incorporate qualified Japanese suppliers and strengthen the SMR supply chain supporting future BWRX-300 deployment in the region.

“As more nations look to nuclear power to meet their energy security needs, GE Vernova and Hitachi look forward to continuing our long history of collaboration in support of the global nuclear industry,” said Roger Martella, Chief Corporate Officer, GE Vernova. “Our SMR technology can be a powerful tool for countries across Southeast Asia for generations to come.”

“Hitachi has continued to bring long-standing experience in nuclear technology, through our partnership with GE Vernova, and we are excited to do even more by exploring the deployment of the BWRX-300 in Southeast Asia,” said Yasunori Inada, Vice President and Executive Officer, CEO of Nuclear Energy Business Unit, Hitachi. “We aim to contribute to a sustainable energy future in the region by leveraging the capabilities of Hitachi and GE Vernova.”

Momentum around the BWRX-300 continues to build globally. The first BWRX-300 is under construction at Ontario Power Generation’s Darlington site in Canada, with completion expected by the end of the decade, which will make it the first small modular reactor in the Western world. Key components like the reactor pressure vessel are being manufactured, and site construction is progressing according to plan. A total of four SMRs are planned for the site. The U.S. Nuclear Regulatory Commission has accepted and is reviewing Tennessee Valley Authority’s (TVA) application to construct the first BWRX-300 in the U.S. at the utility’s Clinch River site in Oak Ridge, Tennessee. These developments, and others, underscore the momentum of the BWRX-300 as GE Vernova and Hitachi build on more than half a century of experience in the nuclear industry, combining their proven technologies and deep expertise to scale and deploy SMRs commercially to customers around the globe.

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 85,000 employees across approximately 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.

About Hitachi

Through its Social Innovation Business (SIB) that brings together IT, OT (Operational Technology) and products, Hitachi contributes to a harmonized society where the environment, wellbeing, and economic growth are in balance. Hitachi operates globally in four sectors – Digital Systems & Services, Energy, Mobility, and Connective Industries – and the Strategic SIB Business Unit for new growth businesses. With Lumada at its core, Hitachi generates value from integrating data, technology and domain knowledge to solve customer and social challenges. Revenues for FY2024 (ended March 31, 2025) totaled 9,783.3 billion yen, with 618 consolidated subsidiaries and approximately 280,000 employees worldwide. Visit us at www.hitachi.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 often address GE Vernova’s and Hitachi’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.

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HANOI, Vietnam (11 March, 2026) – Today in Hanoi the GE Vernova Foundation and partners ASSIST Asia and Electric Power University (EPU) cut the ribbon at the new Centers of Excellence on Wind Energy at EPU. The new center is funded by the GE Vernova Foundation’s RENEW Skills Development grant program, which over the past year has developed new, industry-aligned courses and outfitted five learning labs across the country, officially beginning the education and training of learners for high-demand technical careers.

Five learning labs, including two Centers of Excellence, have been established with educational partners and equipped with modern renewable energy technologies training equipment which will serve as hubs for course development, teacher capacity building and student training. The program anticipates reaching over 4,000 students and technical workers by 2027.

“The world needs energy, and to meet that demand we must accelerate the training and development of the next generation of energy leaders,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “With today’s ribbon cutting, we are doing just that here in Vietnam and advancing our broader goal of training 30,000 students and learners globally by 2030.”

“The establishment of the Center of Excellence on Wind Energy reflects our commitment to delivering industry-aligned, practice-oriented education,” said Assoc. Prof. Dr. Đinh Văn Châu, President of Electric Power University. “Through this partnership with GE Vernova Foundation and ASSIST, we are strengthening our capacity to equip students with the skills needed to support Vietnam’s energy transition.

At ASSIST, our mission is to drive social improvement and sustainable transformation through capacity development,” said Aru David, Regional Director of ASSIST Asia. “Through RENEW Skills, we are partnering with universities and colleges to empower students and technical workers with practical competencies in renewable energy, strengthening resilience and supporting Vietnam’s transition toward a more sustainable and inclusive energy future.”

“Skilled workforce development is a core focus of the GE Vernova Foundation, and this lab at EPU brings that commitment to life in Vietnam. Technical skills are the foundation of a strong energy workforce — and through RENEW Skills, we aim to create well-paying career opportunities for economically disadvantaged communities, while building the talent Vietnam needs for its energy transition," said Ramesh Singaram, Board Director, GE Vernova Foundation and President & CEO, Gas Power Asia, GE Vernova.

The RENEW Skills Development Program was launched with a $750,000 grant by the GE Vernova Foundation in November 2024, and is administered locally by ASSIST Asia. The program focuses on both the current workforce and the future generations of university and technical vocational college students, by providing access to new curricula and practical training focused on wind energy project design, operations and maintenance, grid integration, and workplace safety.

As Vietnam works to meet its 2050 Net Zero commitment, skilled workers and technicians will play a vital role in building a sustainable energy future. And because of that, and in alignment with the Just Energy Transition Partnership agreement announced in 2022, it is important to invest in new training and educational programs and drive awareness of these critical careers as Vietnam implements its Resource Mobilization Plan.

GE Vernova has a long history and strong presence in Vietnam, and just yesterday hosted an exclusive ‘Energy of Change’ Summit in Hanoi. The Summit convened over 400 distinguished senior representatives from government, national utilities, suppliers, and industry partners from across the energy ecosystem of Vietnam and Asia to advance Vietnam’s energy transition as it moves from planning into large-scale implementation under the Revised Power Development Plan VIII (PDP8R).

GE Vernova has over 1,100 employees in Vietnam who work closely with our customers locally and globally to support the country’s economy. With a robust footprint comprised of manufacturing facilities, repair and service centers, nearly 30% of Vietnam’s electricity needs are met through GE Vernova’s equipment and installed solutions today.

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About the GE Vernova Foundation
The GE Vernova Foundation, an independent charitable organization funded by GE Vernova, puts the company’s purpose – The Energy to Change the World – into practice across the global communities where employees live and work. Building on the 100+ year legacy of the GE Foundation, the new GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. The Foundation’s resources are channeled into initiatives focused on championing the global workforce needed for the energy transition as well as building stronger and more resilient communities. Learn more at www.gevernova.com/about/philanthropy.

About Asia Society for Social Improvement and Sustainable Transformation (ASSIST Asia)
ASSIST Asia is a Pan-Asian non-profit organization founded & operating since 2003 across several Asian countries. We specialize in capacity development initiatives in our key focus areas such as Education & Skills, Health, Agriculture & rural development and Green Economy. ASSIST Vietnam has been implementing social improvement & sustainable transformation projects in Vietnam since 2007. Its goal is to empower its target groups to make them resilient to the social, economic and environmental challenges. To learn more about ASSIST, visit www.assistasia.org.

About Electric Power University (EPU)
EPU is a public university with a multi-level and multi-discipline system, operating under the management of Vietnam Ministry of Industry and Trade (MoIT) and its main function is to provide high quality manpower at different training levels for the power sector to satisfy society’s needs. It is also one of the leading research centers for science and technology within the sector. Apart from retraining and advanced training for technical and management staff members of the power sector, the university also develops and promotes scientific research, international cooperation, transfer and deployment of new technology applications.

Guided by the philosophy of "comprehensive education, strong foundations, and sustainable future," and with the aim of becoming a leading applied university in Vietnam, we have established a comprehensive and autonomous model that integrates international education standards. Our numerous research outcomes have effectively met practical needs and contributed to the industrialization and modernization of our country; aligning with the core values of EPU, which are "Responsibility, Creativity, and Efficiency."

For further information about Electric Power University, please visitvhttps://epu.edu.vn/.

Tucked away on Tanzania’s southeastern coast, not far from the border with Mozambique, Mtwara is a region with vast potential. Rich in both onshore and offshore natural gas, it has become central to government plans for long-term economic growth. Yet, until recently, power demand was outpacing the available power supply in the region.

Hai Phong, Vietnam | March 10, 2026 – GE Vernova (NYSE: GEV) today announced an investment of approximately $200 million to expand manufacturing capacity within its Electrification segment by establishing a new facility in Hai Phong, Vietnam. GE Vernova’s Electrification segment provides technologies that support power transmission, grid stability, and large-scale electrification programs worldwide.

This investment forms part of GE Vernova’s planned investments of $11 billion in capex and R&D from 2025 through 2028, including $1 billion for Prolec GE from 2026 to 2028. It follows GE Vernova completing the $5.3 billion acquisition of Prolec GE to increase transformer production in the North American market, more than $300 million in investments in grid facilities in the United States, and the expansion of its Stafford, UK site to strengthen HVDC and grid manufacturing capabilities in Europe.

The new facility will manufacture large power transformers mainly for High-Voltage Direct Current (HVDC) projects, complementing GE Vernova’s existing HVDC transformer manufacturing facilities in Stafford, UK, and India. These technologies are used to move electricity efficiently over long distances and ensure power networks can safely and reliably handle rising electricity demand.

“Electrification is accelerating globally, and reliable power infrastructure is increasingly essential to support economic growth and energy security,” said Philippe Piron, CEO of GE Vernova’s Electrification segment. “This investment expands our manufacturing capacity in a region experiencing strong demand growth while reinforcing a diversified supply chain that supports customers across Asia and other regions as needed. It also reflects our long-term commitment to supporting Vietnam’s industrial development.”

The Hai Phong facility is planned to be developed in phases, with full operations expected in 2028, subject to regulatory approvals. Once operational, the site is expected to contribute towards GE Vernova’s broader transformer manufacturing capacity while primarily serving growing demand across Asia.

Electricity demand growth is particularly strong in fast-industrializing and urbanizing markets, where power infrastructure expansion and modernization are advancing at pace. Locating manufacturing capacity in this region will allow the company to improve delivery timelines, strengthen supply chain resilience, and support reliable project execution.

The project is expected to create approximately 450 jobs by 2030, with a significant number planned to be filled locally. In addition, GE Vernova plans to implement workforce training and knowledge-sharing programs in Vietnam, helping build local capabilities while connecting the Hai Phong site to its global Electrification manufacturing network.

GE Vernova’s equipment supports up to 30% of Vietnam’s electricity needs, reflecting the company’s long-standing presence in the country. Today, GE Vernova employs more than 1,100 people across nine locations in Vietnam, spanning multiple businesses. In addition to the new Hai Phong facility, GE Vernova operates the Phu My repair facility and the Dung Quat HRSG manufacturing plant, which are part of the company’s broader global repair and manufacturing network serving customers worldwide.

--End--

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.

HANOI, Vietnam (March 10, 2026) – GE Vernova Inc. (NYSE: GEV) today hosted the inaugural Energy of Change Summit in Hanoi, bringing together over 400 senior representatives from government, national utilities, suppliers, and energy ecosystem stakeholders across Vietnam and Asia. Hosted by Scott Strazik, President and CEO, GE Vernova, and attended by Acting Minister of Industry and Trade, Lê Mạnh Hùng, the summit focused on advancing Vietnam’s energy transition as the country moves from planning into large-scale implementation under the Revised Power Development Plan VIII (PDP8R).

Additionally, GE Vernova’s Supplier Summit, attended by more than 100 supplier organizations, was held alongside the main event, with a focus on building a resilient regional energy supply chain, advancing Vietnam's economic goals, and creating shared value through strategic partnerships.

Centered on the theme 'Powering Vietnam: From Concept to Reality', the summit examined Vietnam's power sector as an integral part of Asia's broader energy future. Discussions covered the next phase of PDP8R execution — from strengthening local capability and deepening supply chain integration to enhancing system flexibility for a more diversified energy mix — alongside the latest advances in generation and transmission technologies and best practices from leading markets worldwide.

In his keynote, Acting Minister of Industry and Trade, Lê Mạnh Hùng underscored Vietnam's commitment to accelerating its energy transition, emphasizing the need to meet rapidly growing energy demand while ensuring long‑term, sustainable economic growth.

"Vietnam has emerged as one of Asia's fastest‑growing economies, with a power system undergoing rapid and ambitious transformation," said Scott Strazik, President and CEO of GE Vernova. "As the country enters a decisive execution phase, GE Vernova is proud to stand alongside Vietnam in this journey. From supplying our HA technology for Nhon Trach 3 & 4, the country's first LNG‑to‑power plants — to establishing our HVDC manufacturing presence for the region's growing electrification needs, what we build here extends far beyond Vietnam's borders. These investments strengthen supply chains, build local skills and industrial capability, and lay the foundation to power economies across Asia and beyond."

New initiatives and milestones announced at the event included the following:

1. Commissioning of Nhon Trach 3&4 power plants: GE Vernova marked the start of commercial operation of PetroVietnam Power Corporation (PV Power)’s Nhon Trach 3&4 1.6-gigawatt (GW) Power Plant. This is the first HA-powered plant in Vietnam and the first to be powered by liquefied natural gas (LNG). Powered by 9HA.02 technology, the power plant can deliver 1.6 gigawatt of electricity to the grid. The power plant is expected to improve the reliability and stability of the energy grid to support renewables penetration.

   Building on the success of the Nhon Trach 3 & 4 project, GE Vernova announced the selection of its technology for three additional strategic LNG power projects.

2. Powering PV Power’s LNG Power Plant in Vietnam: GE Vernova has been selected by PV Power to supply 9HA.02 gas turbines and H78 generators. Under the agreement signed on March 10, 2026, two gas turbine and generator units will be prioritized for delivery in 2029 for the Quynh Lap LNG power project, which will have an installed capacity of approximately 1.6 gigawatts. The supply of additional units will be discussed by both parties in the near future. This agreement marks a significant milestone in the collaboration between GE Vernova and PV Power. The Quynh Lap project—is one of PV Power’s priority projects for development and operation during the 2025–2030 period.
3. Powering the VinEnergo Hai Phong LNG‑fired Power Plant: GE Vernova has been selected by the Vingroup–VinEnergo joint venture to supply two 9HA.02 gas turbines and two H78 generators, delivering more than 1.6 gigawatts (GW) of power. The project is expected to reduce reliance on traditional fossil fuels, enhance national energy security, and improve power grid stability, marking a strategic step by Vingroup toward more sustainable growth. In addition to strengthening electricity supply for Hai Phong and the national grid, the plant is anticipated to catalyze high‑tech industrial development in line with more sustainable growth trends.
4. Powering Quang Trach II LNG Power Plant: GE Vernova technology has been approved to provide over 1.6 gigawatts (GW) of power by Vietnam Electricity(EVN) for their Quang Trach II LNG power plant in Quang Tri Province, Vietnam. For the new gas‑fired facility, GE Vernova is expected to supply two 9HA.02 gas turbines and two H78 generators. The plant is targeted to be fully operational by 2030. Originally, Quang Trach II was designed as a coal‑fired power plant with a capacity of 1.2 GW. The conversion of the Quang Trach II Thermal Power Plant from coal to LNG has been approved by the Government in accordance with Vietnam’s National Energy Development Strategy through 2030. This project marks a significant expansion of gas‑fired power generation and accelerates the country’s transition from coal to gas.
5. Plans to invest in a Grid Solutions manufacturing site in Vietnam: GE Vernova announced that it is investing approximately USD 200 million* to expand manufacturing capacity with a new facility in Hai Phong, Vietnam, supporting the infrastructure required to meet growing global electrification needs as electricity demand continues to rise. The new facility will manufacture large power transformers mainly for High-Voltage Direct Current (HVDC) projects, complementing GE Vernova’s existing HVDC transformer manufacturing facilities in Stafford, UK, and India. These technologies are used to move electricity efficiently over long distances and ensure power networks can safely and reliably handle rising electricity demand. The Hai Phong facility will be developed in phases, with full operations expected in 2028, subject to regulatory approvals. Once operational, the site is expected to manufacture critical power equipment at scale, supporting GE Vernova’s global project pipeline, with a primary focus on meeting growing regional demand.
6. MoU to explore potential opportunities in HVDC technology: GE Vernova and Vietnam Electricity (EVN) signed a non-binding Memorandum of Understanding (MoU) to explore potential collaboration areas and opportunities in relation to HVDC technology, in line with Vietnam’s PDP8R. Through this MoU, both organizations plan to explore how HVDC solutions — which enable the efficient transmission of large volumes of electricity over long distances — could support the continued development of Vietnam’s transmission infrastructure.

GE Vernova’s equipment provides up to 30% of the Vietnam’s electricity needs, with over 1,100 employees across 9 locations from various GE Vernova businesses throughout the country. GE Vernova’s global customers are served by a global network of repair and manufacturing capabilities which include GE Vernova’s Phu My repair facility and Dung Quat HRSG manufacturing plant in Vietnam.

Note to editors:

* These investments are part of GE Vernova’s $11 billion cumulative global capex and R&D investment plan from 2025 through 2028.

Technology selection does not constitute a firm order or backlog for GE Vernova and is subject to execution of definitive agreements.