Hanoi, Vietnam (November 14, 2024) – As part of its ongoing efforts to support skills development, the GE Vernova Foundation was joined by Asia Society for Social Improvement and Sustainable Transformation (ASSIST) and Electric Power University in Hanoi today to announce a 750,000 USD investment in the workforce supporting Vietnam’s energy sector.  The RENEW Skills grant which was awarded to ASSIST will create a three-year skilling and upskilling program focused on university and college students and current technicians with the goal of addressing the skilled labor needs across Vietnam’s renewable energy industry.

Within the next decade, one of the greatest challenges for the energy sector will be the increasing demand for workers with technical skills. The energy sector requires more highly skilled workers than other industries and the largest gap emerging in that workforce around the world is in vocational and technical roles. 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.

"Skills-based training is essential for driving the energy transition and advancing the technologies of the future," said Ramesh Singaram, Board Director, GE Vernova Foundation and President & CEO, Gas Power Asia, GE Vernova. "We are proud to collaborate with ASSIST on this important initiative in Vietnam. A skilled workforce is fundamental to a nation's economic growth and social progress. Through this program, we are excited to create new opportunities for economically disadvantaged communities, offering pathways to well-paying jobs that promote financial independence and support the well-being of workers, their families, and our world."

The RENEW Skills Development Program will focus 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 technology operations and maintenance, grid integration, and workplace safety. Five learning labs, including two Centers of Excellence will be 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 current technical workers over the next three years. 

“We are honored to partner with the GE Vernova Foundation and Electric Power University to equip current and future workers with the skills needed for the energy transition,” said Aru David, Regional Director, ASSIST. “At ASSIST, we are dedicated to contributing to inclusive skill development initiatives leading to job opportunities in Vietnam and across Asia. The RENEW Skills Program will not only provide hands-on training and access to modern renewable energy technologies but also ensure that these opportunities reach communities that need them most, helping to build a sustainable, inclusive workforce for Vietnam’s green future.”

Assoc. Prof. Dinh Van Chau, President of Electric Power University, stated that "Electric Power University is honored to collaborate with the GE Vernova Foundation and The Asia Society for Social Improvement and Sustainable Transformation (ASSIST) in supporting the energy transition process in Vietnam. The RENEW Skills project provides significant opportunities for students, creating pathways to well-paying employment, particularly within Vietnam's energy sector.

GE Vernova has a long history and strong presence in Vietnam. There are 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.

GE Vernova recognizes Vietnam’s unique energy resources and believes that a combination of gas and renewable energy generation is the most effective way to provide reliable energy and reduce carbon emissions. With its expertise in wind power and gas power generation technology, GE Vernova is dedicated to promoting the development of new energy sources and adjustable power solutions, an approach that aligns with Vietnam’s vision of building a new type of energy system that will enable the country to achieve carbon neutrality and create a sustainable, resilient power system for the future.

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About 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. Following the spinoff of GE Vernova as an independent company in April 2024 and building on the 100+ year legacy of the GE Foundation, the newly formed GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. As the Foundation grows, its philanthropic strategy and programs will focus on growing stronger and more resilient communities and building the workforce needed to drive the energy transition forward. Learn more at www.gevernova.com/about/philanthropy.

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.

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 ASSIST
Asia Society for Social Improvement and Sustainable Transformation (ASSIST) 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 visit https://epu.edu.vn/.

CAMBRIDGE, Mass. (November 14, 2024) – Taking action to help recovery efforts following natural disasters in Asia, Europe, and the United States, today the GE Vernova Foundation announced a total of $500,000 in donations to CARE, Team Rubicon and the Spanish Red Cross. The donations to CARE will support those affected by Typhoon Yagi in Vietnam, the country’s strongest typhoon in three decades, and Storm Boris, which caused extensive flooding in central Europe, with southwestern Poland being one of the hardest hit areas. The collaboration with Team Rubicon will aid families recovering from Hurricane Milton in Florida, which devastated large areas across the state, and the grant to the Spanish Red Cross will help recovery efforts in Spain following severe flooding in the province of Valencia.

“We are proud to work with three impactful organizations in CARE, Team Rubicon, and the Spanish Red Cross who are helping those in need following devastating storms across the globe,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “We have many employees in Vietnam, Poland, Florida, and Spain, and the GE Vernova Foundation will continue to support communities where our employees live and work.”

In Vietnam, CARE is supporting ongoing relief efforts following Typhoon Yagi, with this funding focusing on impacted families in two of the most affected communities of the Cao Bang Province: Phan Thanh and Dinh Phung. They are doing this by providing multi-purpose cash assistance, household kits, and renovation of school facilities. It is anticipated that the GE Vernova Foundation’s $100,000 in funding will support 300 families, or approximately 1,200 individuals in Vietnam. In Poland, CARE will support over 10 local aid distribution centers with much needed coordination and distribution and provide case management assistance to vulnerable populations not able to access aid, including Ukrainian refugees. It is estimated through these efforts the GE Vernova Foundation’s $100,000 in funding will support over 5,000 people.

“We are very grateful to the GE Vernova Foundation for helping CARE provide relief in communities that are bearing the brunt of the extreme weather events that climate change is making increasingly frequent,” said Deepmala Mahla, CARE’s Chief Humanitarian Officer. “CARE focuses on empowering communities through local partnerships, recognizing that local organizations understand the unique challenges and needs of their regions. Our humanitarian responses are culturally relevant and sustainable. This approach not only enhances the effectiveness of aid but also builds local capacity, fostering long-term resilience in vulnerable communities.”

In Florida, Team Rubicon, a veteran-led humanitarian organization that serves global communities before, during and after disasters and crises, will assist communities in some of the hardest hit areas impacting the most vulnerable populations. The $200,000 in funding from the GE Vernova Foundation will support Team Rubicon’s large-scale Greyshirt volunteer response involving removing debris, tarping roofs, clearing roads, and mucking and gutting flooded homes. These often high-cost and labor-intensive services are provided at no cost for survivors in areas most impacted by this storm.

"We are grateful for the support of the GE Vernova Foundation as our Greyshirt volunteers continue to serve those impacted by Hurricane Milton in Florida," said Jeff Byard, Vice President of Operations at Team Rubicon. "This investment in our mission enables Team Rubicon to stay in communities for longer, reaching more disaster survivors in need of assistance."

The Spanish Red Cross mobilized immediately following devastating floods across the hardest hit regions of Spain, including Comunidad Valenciana, Andalucía, Castilla la Mancha and Murcia. They have deployed emergency response teams in high-risk areas, setting up temporary shelters and caring for the most vulnerable, especially the elderly, and are distributing basic aid like food, water, blankets, hygiene kits and providing first aid and psychosocial support. The Spanish Red Cross has also mobilized an emergency childcare team to provide assistance to families in shelters. The GE Vernova Foundation’s $100,000 grant will support the Spanish Red Cross’ continued response to provide immediate needs throughout the impacted region.

“We are deeply grateful for the invaluable support of The GE Vernova Foundation during the DANA emergency,” said Jaime Gregori, Fundraising and Corporate Alliances Director, Spanish Red Cross. “Their generous contribution plays a crucial role in helping us to provide immediate relief and long-term recovery for affected communities. The collaboration of companies is essential for the success of our humanitarian efforts, and together, we can make a lasting impact on those in need."

GE Vernova employees who make eligible donations to Team Rubicon, CARE, the Spanish Red Cross or other participating organizations can register for a match with the GE Vernova Foundation’s Matching Gifts program, which supports employees’ personal philanthropy and charitable giving by providing a match.

GE Vernova Foundation’s Disaster and Humanitarian Relief program responds to major global disasters and humanitarian crises, drawing on GE Vernova’s people, technology and other resources to reduce suffering and hasten recovery. Most recently, the GE Vernova Foundation partnered with the American Red Cross to alleviate Hurricane Helene devastation in the Southeastern United States.

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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. Following the spinoff of GE Vernova as an independent company in April 2024 and building on the 100+ year legacy of the GE Foundation, the newly formed GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. As the Foundation grows, its strategic philanthropic strategy and programs will focus on growing stronger and more resilient communities and building the workforce needed to drive the energy transition forward. Learn more at www.gevernova.com/about/philanthropy.

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.

About Team Rubicon
Team Rubicon is a veteran-led humanitarian organization that serves global communities before, during, and after disasters and crises. Founded following the Haiti earthquake in 2010, the organization has grown to more than 150,000 volunteers across the United States and has launched over 1,100 operations domestically and internationally. To drive equity across disaster and humanitarian services, Team Rubicon focuses on three areas of impact: disaster services- from mitigation to immediate response to recovery; rebuild services- maintaining the fabric of communities through resilient building methods; and international services- providing emergent and surge medical services, WASH, and disaster risk reduction. Visit www.teamrubiconusa.org for more information. 

About CARE
Founded in 1945 with the creation of the CARE Package®, CARE is a leading humanitarian and development organization fighting global poverty. CARE places special focus on working alongside women and girls. Equipped with the proper resources, women and girls have the power to lift whole families and entire communities out of poverty. In 2023, CARE worked in 109 countries, reaching 167 million people through more than 1,600 projects. To learn more, visit www.care.org

About the Spanish Red Cross
The Spanish Red Cross (Cruz Roja Española) is a humanitarian organization dedicated to providing emergency assistance, disaster relief, and health services across Spain. Founded in 1864, it operates as a key part of the International Red Cross and Red Crescent Movement. The Spanish Red Cross focuses on supporting vulnerable populations, including those affected by natural disasters, refugees, and those in need of medical care or social services. Its work encompasses a wide range of programs, from disaster preparedness to social integration and health campaigns, with the goal of improving the lives and well-being of individuals in crisis situations.

CAMBRIDGE, Mass. (November 7, 2024) -- GE Vernova Inc. (NYSE: GEV) today announced it has signed an expanded multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) that includes its Asset Performance Management (APM) and CERius™ software delivered in the AWS Cloud. The SCA is designed to make it easier for energy companies to adopt software that has the potential to reshape how they manage their asset and emissions data as they address the energy transition.

“As the energy landscape continues to dynamically transform, the power of flexible cloud-based software is increasingly important,” said Scott Reese, CEO of GE Vernova’s Electrification Software business. “The expansion of our strategic agreement with AWS represents our commitment to providing digital solutions that can help energy organizations increase reliability, lower costs, and make measurable progress on energy transition goals.” GE Vernova previously announced SCAs with AWS to benefit electric utilities, manufacturers, and other industrial companies.

GE Vernova customers are already experiencing benefits of the expanded SCA with AWS. One example is global energy company AES. “GE Vernova’s APM as a software as a service (SaaS) solution has been very important for AES. Its advanced predictive analytics, real-time monitoring, and user-friendly interface have significantly improved our operational efficiency and asset reliability,” said Michelle Legge, Sr. Reliability Engineer and GE APM Program Manager at AES. “The flexibility and scalability of the SaaS model ensures that we can easily adapt to our evolving needs while maintaining optimal performance. With GE Vernova’s APM, we have achieved greater visibility into our assets, enabling more informed decision-making and proactive maintenance strategies. This relationship has been instrumental in driving our mission of delivering sustainable, reliable, and innovative energy solutions.”

The expanded SCA is designed to enable energy companies to:

• Scale with flexibility using solutions that evolve with organizations. GE Vernova’s APM is a suite of software and services designed to help optimize asset performance and operations and maintenance (O&M) efficiency across equipment, the plant, and the entire fleet. The solution offers a modular approach and comprehensive integrations to help companies scale their operations more seamlessly and efficiently. A combination of artificial intelligence (AI) and machine learning (ML) helps enable organizations to more effectively manage and action their asset data.
• Operationalize decarbonization strategy. CERius is GE Vernova’s emissions data management software. The solution is designed to automate the process of accurately collecting greenhouse gas (GHG) emissions data, provide valuable insights, and identify opportunities for reducing carbon emissions.
• Onboard and integrate more sustainable energy faster. Pre-built workflows, AI/ML programming, real-time data, and predictive analytics can empower faster decision-making. This is essential to speeding up the integration of renewable assets on the journey to a more sustainable energy future.
• Leverage extensive industry expertise. Built on over 130 years of experience, GE Vernova is uniquely positioned to change the arc of climate change. The company’s software solutions are purpose-built with original equipment manufacturer (OEM) expertise, making it easy to apply them to new asset types as today’s energy landscape evolves. In addition to working with AWS, leveraging its advanced and secure cloud services and industry expertise, GE Vernova employs expert guidance backed by strong experience across information and operational technology (IT and OT).
• Modernize and maximize investments with cloud-based optimization. With an end-to-end solution that facilitates continuous and progressive improvement, companies should have the power to optimize for lower expenses and higher return on investments.

“As the industry faces the challenges of network efficiency and decarbonization, our collaboration with GE Vernova provides a unique opportunity to reshape asset performance and emissions management,” said Scott Sanderson, Director of Business Development, Energy and Utilities at AWS. “Together, we’re enabling customers to accelerate innovation, reduce their carbon footprint, and sustain financial performance.”

GE Vernova was recently named a Leader for the third straight time by independent industry analyst firm Verdantix in its Green Quadrant: APM Solutions 2024 report. More information on the company’s APM can be found here.

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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 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. Learn more: GE Vernova and LinkedIn. GE Vernova’s Electrification Software business is focused on delivering the intelligent applications and insights needed to accelerate electrification and decarbonization across the entire energy ecosystem – from how it’s created, how it’s orchestrated, to how it’s consumed. Its Power & Energy Resources Software helps improve reliability and drive decarbonization.

Forward-Looking Statements
This article contains forward-looking statements, which provide current expectations based on certain assumptions. Except as required by law, we disclaim any obligation to update these statements.

Tongyeong, South Korea (November 7, 2024) — GE Vernova Inc. (NYSE: GEV) today announced the start of commercial operation for Tongyeong Eco Power’s Tongyeong combined cycle power plant in Gyeongsangnam-do, South Korea.  The new one-gigawatt (GW) LNG-fueled plant site, including one 200,000-cbm LNG storage tank, is located at Anjeong Industrial Park in Tongyeong City, and it delivers the equivalent electricity needed to power approximately 1 million Korean households.

For the project, GE Vernova provided two 7HA.02 gas turbines, one STF-D600 steam turbine, two Heat Recovery Steam Generators (HRSG) and three H65 generators. In addition to the equipment, GE Vernova is expected to provide maintenance services for the 7HA.02 gas turbines and generators for the next 17 years.

“GE Vernova is committed to bring more affordable, reliable and sustainable power generation technology to South Korea and we are confident that the adoption of GE Vernova’s advanced HA technology, combined with their total plant services offering, will play a significant role in moving the country towards becoming an energy self-reliant nation,” said Tongyeong Eco Power.

“We are honored to support Hyundai Development Company (HDC)’s Tongyeong Eco Power in its approach to providing more efficient power and thermal energy from Liquefied Natural Gas” said Ramesh Singaram, President and CEO, Asia of GE Vernova’s Gas Power. “The start of commercial operation of Tongyeong Combined Cycle Plant marks a significant achievement that underlines our commitment to delivering efficient energy solutions in a country where power generation is very reliant on heavy fossil fuels, with coal and oil covering nearly 60% of power needs, according to IEA estimates."

The country’s biggest utilities are turning from coal-burning power plants to liquefied natural gas, which can help deliver power on demand and support the development of renewable energy resources like wind and solar. Case in point, two further major projects in South Korea are using high-efficient HA gas turbines engineered by GE Vernova to work toward the environmental goals laid out in the country’s energy commitments.

• Naepo Green Energy Co. Ltd.’s new district heating plant in the center of Naepo City, about 65 miles south of the capital Seoul, is powered by a GE Vernova 7HA.02 gas turbine, as well as a STF-D650 steam turbine
• Korea Southern Power Co. Ltd. (KOSPO), a unit of the national utility Korea Electric Power Corp., has recently started to operate its Shinsejong combined-cycle power plant (CCPP) — powered by a GE Vernova 7HA.03 gas turbine.

GE Vernova HA gas turbines can save over 3.3 metric tonnes of CO2 emissions per year, per unit compared to an average coal-fired plant of the same size. This is equivalent to removing roughly 680,000 cars off the road for every HA unit deployed to substitute an older, coal-fired plant of equivalent size. GE Vernova simulated that H-class units in South Korea could reduce carbon emission intensity of the fossil fleet per kilowatt hour more than three-fold over current levels if coal plants were retired and this newer, advanced technology was deployed in country.

GE Vernova HA gas turbines are able to operate on a variety of fuels, including blends of hydrogen and natural gas, to offer multiple pathways to reduce CO2 emissions.

With the highest number of H-Class units ordered in the industry, GE Vernova’s HA gas turbines have accumulated more than 2.5 million commercial operating hours continuing to be the fastest growing fleet in the heavy-duty gas turbine H-Class segment.

For more than 45 years GE Vernova has collaborated with Korean companies in key infrastructure sectors and continues to help Korea’s energy transition journey and provide technologies to support the Korean government’s goals. GE Vernova’s gas turbines provide more than 14 GW of generation capacity with an installed base of over 80 units.

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Notes to editors
© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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.

Berlin, Germany (November 6, 2024) – GE Vernova Inc. (NYSE: GEV) today announced the expansion of its Electrification facility in Berlin with the opening of a High Voltage Direct Current (HVDC) Competence Center. The center will develop leading edge technology to speed the energy transition by improving grid stability and integrating more renewable energy across Germany and Europe while also supporting HVDC projects worldwide.

HVDC systems are essential for achieving both electrification and decarbonization goals. The HVDC center will develop and test technology to enable the efficient transmission of bulk power over long distances or from offshore submarine links, simplify the integration of renewable energy into power grids, and connect multiple HVDC transmission links.

The addition of the HVDC Competence Center positions the Berlin facility as a key hub for GE Vernova’s Electrification Systems businesses in Europe, expanding GE Vernova’s capacity to support regional and global growth in Grid Solutions, Power Conversion, and Solar and Storage and helping to deliver the growing Electrification backlog.

“The world’s future is electric, and electrification is essential for achieving a net zero emissions future,” said Philippe Piron, CEO of Electrification Systems at GE Vernova. “The expansion of our Berlin center is a significant step towards advancing reliable, affordable, and decarbonized energy and supporting the rapid growth of GE Vernova’s Electrification segment. As a key Electrification hub for GE Vernova in Europe, the Berlin site will drive innovation in grid solutions, power conversion, and renewable energy integration. This investment reinforces our commitment to modernizing energy systems, supporting Germany's energy transition, and leading the electrification and decarbonization of the global energy ecosystem.”

Supporting Germany’s Energy Transition

Operating in Germany for more than 100 years, GE Vernova is dedicated to driving the country’s net zero efforts through advanced infrastructure technologies and services. GE Vernova’s robust presence in Germany and across Europe supports its ability to work across borders from the North Sea to Eastern Europe.

The launch of the center and the investment in HVDC technology aligns with Germany's ambition to advance its energy transition. That transition will require major grid infrastructure upgrades and investment in the System Stability Roadmap. This government initiative seeks to ensure a resilient and stable power system as Germany moves toward generating at least 80% of its electricity from renewable sources by 2030.

Driving Electrification in Europe

GE Vernova is at the forefront of the energy transition as Europe seeks to decarbonize while meeting growing demand for electricity. GE Vernova recently entered into an innovation agreement with four German Transmission System Operators (TSOs) to design a Multi-Terminal/Multi-Hub High-Voltage Direct Current (HVDC) connection solution, marking a significant milestone in developing a future high-voltage grid for Germany and Europe’s energy transition. Furthermore, GE Vernova is actively engaged with TenneT on a 2-gigawatt (GW) High Voltage Direct Current (HVDC) offshore transmission system program in Germany and the Netherlands, part of a five-year Framework Cooperation Agreement signed in March 2023.

The HVDC Competence Center will support these agreements, as well as others in its growing order backlog, and enable other efforts to integrate renewable energy into the grid, reaffirming GE Vernova's commitment to innovative solutions that address the region's evolving grid needs.

GE Vernova also recently announced a doubling of production capacity at its Stafford, UK plant to meet the growing global demand for HVDC technology.

Creating Jobs and Driving Progress

As part of its growth plans in Germany, GE Vernova expects to  have created around 500 new highly skilled jobs for engineers, project managers and other support staff in Berlin from 2023 to the end of 2025. New job opportunities are planned to open each quarter with 60 jobs posted currently and more than 200 to come. These roles will be instrumental in advancing electrification technologies and enhancing the company’s engineering and technical capabilities, positioning the Berlin Electrification facility as a major contributor to the development of energy solutions across the region.

Inauguration Event

To commemorate the opening of the HVDC Competence Center, GE Vernova hosted an open dialogue about the pressing challenges of today’s grid and energy landscape, inviting speakers from the Federal Ministry for Economic Affairs and Climate Action and the Senate Department for Economic Affairs, Energy and Public Enterprises, as well as representatives from GE Vernova to discuss Germany’s energy future and its path toward a sustainable and reliable energy supply.

-ENDS-

Notes to Editors:

GE Vernova is dedicated to advancing Germany’s energy transition through advanced infrastructure technologies, services, and a robust presence of over 25,000 employees across Europe. With nine locations across Germany, GE Vernova conducts production, research, and development focused on energy transition solutions, including onshore and offshore wind turbines, transformers, medium and low voltage converters, and hydrogen-capable gas-fired power plants.

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's expected future business and financial performance, 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.

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 Electrification segment includes Grid Solutions, Power Conversion, Solar and Storage Solutions, —collectively referred to as Electrification Systems —and digital technologies, referred to as Electrification Software. The solutions offered by this segment are essential for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption.

Al Khobar, KINGDOM OF SAUDI ARABIA (November 4, 2024) – GE Vernova Inc. (NYSE: GEV) and Saudi Arabia’s Ash Sharqiyah Operations & Maintenance Company (ASHOMCo) announced today the completion of three Front-End Engineering Design (FEED) studies analyzing the possibility to lower the net carbon emissions of three cogeneration plants located in the Kingdom of Saudi Arabia. GE Vernova completed the assessment of pre-combustion and post-combustion technologies at the three plants powered by GE Vernova’s 7E and 7F gas turbines and delivering up to 920 Megawatt (MW) of combined power and 1400 tons/hr of steam, a capacity equivalent to the average power needed by 920.000 Saudi homes.

“Our participation in the GE Vernova-led studies underscores our dedication to accelerating advanced solutions for potentially retrofitting the existing power plants to meet stringent carbon emission standards, a vital step towards producing more sustainable energy,” said Rob Hayes, Executive Manager, ASHOMCo. “GE Vernova led the full-scale integration of the study with the ultimate goal of lowering the net carbon emissions of the three power plants.”

GE Vernova accomplished a hydrogen-readiness assessment for the three power plants as well as conducting assessments to improve performance and costs in the installation of possible carbon capture, utilization, and sequestration (“CCUS”) systems at the three power plants.

GE Vernova 7E and 7F gas turbines can already operate today with hydrogen blend at up to 100 percent with modifications to the Standard Combustors. GE Vernova’s FEED studies explored solutions to enable operations using blends of natural gas and hydrogen, with hydrogen accounting for up to 32 percent by volume at those three plants, and defined the necessary modifications to the existing combustor systems with view to achieving this level of hydrogen blending.

The studies also focused on retrofitting the three power plants with technology capable of capturing up to 95 percent of the plant’s carbon dioxide (CO₂) emissions. The studies concluded that the integration of GE Vernova’s Exhaust Gas Recirculation (EGR) system could lead to a reduction of more than 7 percent of the total cost of the carbon capture facility, as compared to installing CCS without the EGR system, and 6 percent reduction of carbon capture operational costs per year, at the site conditions considered in the study.

“The first of this kind carbon capture assessment accomplished in the Kingdom of Saudi Arabia by GE Vernova proposes significant enhancements aiming to improve the proposed carbon capture process and reduce its impact on the power plants’ output, performance, and equipment costs,” said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. “We remain committed to supporting the advancement of the region’s energy goals, working alongside players such as ASHOMCo, and we hope that this collaboration will pave the way to adopt more sustainable combustion fuels, such as hydrogen, and carbon capture technologies to support ASHOMCo’s decarbonization efforts.”

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Notes to editors

© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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.

Dubai, UAE (November 3, 2024) – GE Vernova, Inc. (NYSE: GEV) is participating at ADIPEC 2024, taking place from 4 – 7 November at ADNEC in Abu Dhabi, United Arab Emirates (UAE). ADIPEC is one of the world's largest energy shows and GE Vernova's team will be showcasing technologies that are helping communities across the world maintain reliable, affordable, and secure electricity systems, while also increasing access to power and reducing carbon emissions. GE Vernova’s participation at ADIPEC will include interactive activities on stand 7135 in Hall 7, and  speaking sessions covering a wide range of topics including: the future of energy, the role of hydrogen, financing the energy transition, accelerating the journey to net zero, and the grid of the future.

Smart grids can harness real-time data, automation, and advanced control systems to optimize energy flow, enhance resilience, and integrate renewable sources. However, as the sector relies more on digital interconnected systems, the risk of cyberattacks has increased dramatically, making cybersecurity a critical component of any smart grid infrastructure. In Q2 2024, corporate networks experienced a 30% increase in weekly attacks compared to the same period in 2023^[1]. Grid operators and utilities recognize that software needs to play a bigger role in managing a safe, secure, and reliable grid. This is the premise of GE Vernova’s newly published whitepaper on “Securing Smart Grids: Strategies and Best Practices”. 

The white paper provides a comprehensive approach to smart grids vulnerability assessments and risk management, offering guidance on identifying and evaluating potential weaknesses, including:

• Leveraging advanced technologies such as artificial intelligence (AI) and machine learning (ML) to strengthen grid security
• Adopting secure communication protocols
• Implementing industry best practices such as asset management, zero trust architecture and patch management
• A case study on a utility in the UAE which highlights an example of a tailored security solution aimed at minimizing cyberattack surface, enhancing access requirements, and mitigating operational risks

“The digital transformation of the grid is becoming a mission critical endeavor to optimize grid operations, ensuring a steadfast, efficient, and secure electricity supply, especially with the integration of more renewable energy sources,” said Bernard Dagher, Chief Strategy & Growth Officer of GE Vernova's Grid Solutions in the Middle East & Africa. “At GE Vernova, we understand the importance of collaborating with our customers and industry stakeholders to implement robust cybersecurity measures across energy and utilities to prevent disruptions.”

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. Building on over 130 years of experience, and 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. 

For decades, GE Vernova has contributed to the development of the Gulf Cooperation Council's (GCC) energy infrastructure, supporting economic diversification, localization, high value exports, and talent development efforts. In Saudi Arabia, the company’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, and GE Saudi Advanced Turbines (GESAT) for gas turbines and components in Saudi Arabia. In July 2024, GE Vernova rolled out first H-Class gas turbine completed at Saudi Arabia GESAT facility and the company continues to support Saudi Vision 2030. Other investments in the GCC include the GE Kuwait Technology Center and the Jebel Ali Service Center in the UAE.

[1] https://blog.checkpoint.com/research/check-point-research-reports-highest-increase-of-global-cyber-attacks-seen-in-last-two-years-a-30-increase-in-q2-2024-global-cyber-attacks/

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Notes to Editors
GE Vernova, Inc. (NYSE: GEV) invites you to visit GE Vernova's stand 7135 in Hall 7 at ADNEC to explore, interact, and immerse yourself in a unique display of industry-leading technology and solutions that are electrifying, decarbonizing, and shaping the future of energy.

Our global team of energy industry experts will also be available to present advanced solutions and respond to your questions.

Follow #GEVernovaAtADIPEC and around the region on LinkedIn

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.

WILMINGTON, North Carolina (October 31, 2024) — GE Vernova’s Nuclear business (NYSE: GEV), GE Hitachi Nuclear Energy (GEH), today announced it has selected Canada-based Worley Chemetics, which has a fabrication facility in Pickering, Ontario, to design and fabricate the isolation condenser system for the BWRX-300 small modular reactor, the first grid-scale SMR in North America.

“The isolation condenser system is a key passive safety feature of the BWRX-300 design and we look forward to collaborating with Worley Chemetics on a manufacturing design that will deliver outstanding safety, quality and performance,” said Sean Sexstone, Executive Vice President, Advanced Nuclear, GEH. “This collaboration aims to strengthen Ontario’s nuclear supply chain and bring economic benefits to the region.”

“We’re delighted to partner with GE Hitachi to help solve the complex challenges of energy transition while expanding nuclear opportunities in Canda,” said Andrew Barr, President, Worley Chemetics. “This partnership builds on Worley Chemetics’ 60-year legacy of delivering sustainable process technologies, our recently acquired ASME nuclear certification and our newly expanded specialized alloy fabrication facility in Ontario.”

It was also announced today that Worley Chemetics has joined the BWRX-300 qualified supplier group which was established to help ensure a reliable, cost effective and innovative process for manufacturing and commercialization of the BWRX-300. Suppliers who meet pre-defined criteria, customer requirements and demonstrate a willingness to invest in BWRX-300 supply chain capabilities are eligible for selection to the group. Worley Chemetics joins BWXT Canada Ltd. (BWXT Canada) in the group with additional members expected to be announced soon. GE Vernova is well positioned to lead SMR supply chain development by leveraging its global presence and collaborations.   

Ontario Power Generation (OPG), GEH, AtkinsRéalis and Aecon Construction Group have entered into a contract to construct the first BWRX-300 at OPG’s Darlington site. Early site preparation work has been completed with construction expected to start in 2025 and commercial operation to commence by the end of 2029. A total of four 300 MW units are planned for the Darlington site. 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 BWRX-300 is a key pillar of GE Vernova’s energy transition leadership. In addition to helping customers achieve decarbonization goals, the BWRX-300 is designed to reduce construction and operating costs. Specifically, the BWRX-300 leverages a unique combination of existing fuel, plant simplifications, proven components and a design based on an NRC-certified reactor design.

###

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 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.

GE Vernova’s Nuclear energy business, through its global alliance with Hitachi, is a world-leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. Technologies include boiling water reactors and small modular reactors, such as the BWRX-300, which is one of the simplest, yet most innovative boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a world-leading supplier of boiling water reactor fuel and fuel-related engineering services. GNF is a GE Vernova-led joint venture with Hitachi, Ltd. and operates primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

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.

© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license. 

BAGHDAD, Iraq (October 31, 2024) - In a major boost to Iraq's electricity infrastructure, the Ministry of Electricity (MoE) and GE Vernova Inc. (NYSE: GEV) announced today the early completion and energization of five critical substations across the country in less than two years. These substations are part of a nationwide project that involves the energization of 10 substations by Iraq’s MoE and GE Vernova to improve grid stability, enhance network efficiency and enable the interconnection with the Hashemite Kingdom of Jordan’s grid, providing more stable electricity for the people of Iraq.

The five new 132 kV substations include Al Hindia, Al Sader, Al Qaim Saada, North Baqubah and Yaramja South. Both North Baqubah and Yaramja South substations were delivered around six months ahead of schedule and were completed in August and September 2024 respectively. Construction and equipment installation works at the Rasafa Center substation have reached the final stages and will be energized soon.

Four additional substations, North Najaf, North Karbala, North Diwaniya and Aredo, are scheduled for completion by summer of 2025.

Upon completion of the 10 substations, the Iraqi transmission system will be able to transmit an additional 2,200 megavolts-ampere (MVA) of power, enabling improved transmission of the equivalent amount of electricity needed to power approximately 300,000 households or about 1 million people.

Over the past decade, GE Vernova has built and energized a total of 30 substations, including five 400 kV substations in Al Khairat, Nainawa, Mansouriya, Mosul East, Al Fao and Baghdad Northwest. In addition, four 132 kV substations were completed in Dohuk province in Kurdistan region, further strengthening Iraq's power infrastructure.

Iraq’s Minister of Electricity, Ziad Ali Fadhil said: “The strategic collaboration with reputable international companies, such as GE Vernova, supports the Ministry’s efforts to modernize the national electricity grid by enhancing generation and transmission efficiency, and providing a reliable technical map that provides flexibility in transferring loads and achieving stability in connecting governorates to each other. In this context, these five substations that were completed and energized ahead of schedule represent a key milestone and an important addition to our efforts as they directly contribute to improving the stability of the grid in the surrounding areas, and are necessary to meet the growing demand for electricity,” he stressed that “the completion of these complex projects ahead of schedule demonstrates the commitment of the Ministry of Electricity teams and their focus on achieving tangible results.”

Johan Bindele, Leader of GE Vernova’s Grid Systems Integration business, said, “By executing these transformative electrification projects in partnership with the Ministry, our advanced substation solutions are not only stabilizing the grid but also accelerating Iraq’s transition to a more reliable, affordable, and sustainable energy future.”

Rasheed Janabi, President of GE Vernova in Iraq, said, “As a dedicated, long-term player in the energy sector in Iraq, we are committed to meeting the growing energy needs of Iraq’s economy with the latest technologies and solutions across the energy value chain. This latest grid modernization milestone is part of a comprehensive strategy that GE Vernova developed to help accelerate Iraq’s transition to more reliable and lower carbon power for the benefit of present and future generations.”

“We are proud of the key role of the Iraqi team members from both GE Vernova and MoE in these projects,” he concluded.

GE Vernova is committed to this region across multiple projects. For example, GE Vernova has supplied advanced gas-insulated substations from its factories in France and Switzerland, as well as high-voltage power transformers from Turkey and the United Kingdom, which were installed and commissioned by GE Vernova's Iraqi field engineers across different substations. The company has also provided Substations Control and Monitoring Systems (SCMS) and Protection and Control panels from its manufacturing facilities in the UAE and the UK for multiple substations as part of ongoing efforts to strengthen Iraq's power infrastructure.

In addition to modernizing the grid, GE Vernova has added up to 19,000 megawatts of power generation capacity to Iraq's grid, mobilized more than US$3 billion in financing for energy projects and continues to invest in workforce training and capacity building. GE Vernova is also working with MoE to set up a Monitoring and Diagnostics (M&D) Centre that will use the company’s electrification software capabilities for continuous monitoring of core power assets across sites powered by GE Vernova’s gas turbines. The Center is projected to help mitigate operational risks, reduce unplanned outage costs, and enable Iraqi talent development through knowledge transfer and the specialized training of local engineers.

###

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 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. 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.

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.

© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license. 

WARSAW, POLAND (October 29, 2024) –  GE Vernova Inc. (NYSE: GEV) and PGE Polska Grupa Energetyczna (PGE) announced today the start of commercial operation of 1.4-gigawatt (GW) PGE Gryfino Dolna Odra Combined Cycle power plant, in the Western Pomerania region of Poland. Powered by GE Vernova’s HA combined cycle equipment, and built by the Polish engineering, procurement, and construction (EPC) company Polimex Mostostal (Polimex) part of the GE Vernova-led consortium, the plant can deliver the electricity needed to power the equivalent of more than 3 million households in Poland.

For PGE Gryfino Dolna Odra power plant, GE Vernova provided two blocks of 683 megawatts (MW), each including a GE Vernova 9HA.01 gas turbine, an STF-D650 steam turbine, a W88 generator and a Once Through Heat Recovery Steam Generator (HRSG), a key enabler in advanced water-steam cycles delivering higher combined cycle efficiency. 

In addition to the core power plant equipment delivered in a turnkey combined cycle configuration, GE Vernova is contracted to provide a holistic solution including a 12-year service agreement to manage key aspects of the project’s lifecycle, training and maintenance management to enhance operational performance and support the reliability of PGE Gryfino Dolna Odra power plant.

"The commissioning marks the completion of the construction of the state-of-the-art largest gas-fired power plant in Poland – PGE Gryfino Dolna Odra with a total capacity of 1366 MW. The new gas units will replace the old and inefficient coal units at the Dolna Odra Power Plant, thus aligning with PGE Group's strategy for decarbonizing its generation assets. At the same time, the new investment will strengthen Poland's energy security and provide stable energy supplies for over 3 million households," says Dariusz Marzec, President of the Management Board of PGE Polska Grupa Energetyczna. "Thanks to its flexibility, meaning the ability to start up quickly and adjust the volume of energy produced, the investment in Gryfino will help meet market demands and assist in stabilizing the power grid in Poland and optimizing the use of variable energy production from renewable sources," adds Dariusz Marzec.

According to Poland National Energy and Climate Plan for the years 2021-2030, Poland’s energy policy aims to reduce CO2 emissions by increasing the use of renewable energy sources (RES) and natural gas, introducing nuclear power, and improving energy efficiency. In 2023, Poland generated 61% of its electricity from coal fuel with an expected target to reduce it significantly in favor of gas, nuclear power generation and renewables, with the country’s commitment to becoming a major player in offshore wind, aiming for at least 3.4 GW of capacity by 2030.

“To support Poland’s climate and energy transition agenda, as more coal fired plants are retired, the need to add more reliable and flexible power that provides greater grid stability is essential” said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. “H-class power plants like PGE Gryfino Dolna Odra have a lower emissions impact with up to 60% less emissions compared to other plants of the same size powered by diesel, coal and other fossil fuels. The project represents a milestone for Poland, adding to the system a large-capacity plant that can bring stability to the country's electricity matrix and we are pleased our collaboration with PGE proved, once again, to be effective.”

PGE’s energy system supported by GE Vernova
Building on more than three decades of delivering energy solutions to Poland, GE Vernova continues to support Polish customers, like PGE, to choose and implement the energy systems which best meet their needs and targets for energy security, costs and better sustainability. 

Last year, GE Vernova announced the modernization of PGE’s Porąbka-Żar Pump-Storage power plant, in the Sola basin in Silesia. GE Vernova will provide four new 125 megawatt (MW) pumped-storage turbines and generators, which are replacing the over 40 year-old existing hydro assets to increase the operational efficiency and extend the lifetime of the hydropower plant for several decades. PGE’s Porąbka-Żar Pump-Storage power plant, the second largest pumped-storage power plant in Poland with an installed capacity of 500 MW, provides important ancillary services to the Polish electricity system and it is the only underground power plant in Poland.

This year, GE Vernova, in cooperation with Polimex Mostostal (PXM), was awarded to build the onshore infrastructure for the Baltica 2 Offshore Wind Farm.  The wind farm, jointly developed by Ørsted and PGE will help stabilize the electrical grid. GE Vernova’s project will include a 275/400 kV high voltage substation including transformers and compensators (STATCOM) and onshore export lines for efficient power transfer to the Polish Power System. 

GE Vernova’s factories in Elblag, Wroclaw and Goleniow, and the Engineering Innovation Center in Warsaw are good examples of how GE Vernova delivers the technology to support electrification and decarbonization in the country. Steam turbines and generators for PGE Gryfino Dolna Odra were manufactured in GE Vernova’s Poland-based factories in Elblag and Wroclaw respectively.

###

Notes to editors
© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license. 

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.