BARCELONA, Spain (June 19, 2024) - As countries across Africa continue addressing their respective energy challenges, requiring diverse solutions for unique situations, GE Vernova Inc. (NYSE: GEV) remains committed to keep electrifying and decarbonizing the continent and will be a lead sponsor of the Africa Energy Forum taking place in Barcelona, Spain from June 25 - 28, under the theme Energy Systems of the Future – Balancing Africa’s Needs with Global Goals. The event brings together the continent’s key stakeholders, investors, and future leaders, covering vital areas such as project developments, technology innovations, and cross-sector opportunities and collaborations.

A recent report reveals that about 600 million people in Sub-Saharan Africa – up to 50% of the region’s population – do not have access to electricity. Moreover, power demand is forecasted to grow further by about 3% in 2024, emphasizing the need to balance energy transition aspirations with electricity availability. GE Vernova’s team of industry experts plan to exchange ideas on and share best practices to accelerate the path to more reliable, affordable, and sustainable energy for the continent at several sessions at the Africa Energy Forum, including: Tackling Grid Challenges to Improve Energy Systems; The African Gas Conundrum: Is it a Transitional Enabler or Not?; Investing in Senegal: A World Class Energy Partner; and Leveraging New Technologies to Lower Emissions and Promote Balance Across Energy.

Joseph Anis, President & CEO of Europe, Middle East & Africa for Gas Power at GE Vernova says: “Progress is indelibly linked to uninterrupted power supply in modern society. Investing in reliable and affordable electricity generation is as critical as advancing lower carbon power to support health, connectivity, safety, security, and improved quality of life. Accelerating Africa’s energy transition efforts will require cross-sector collaboration among the public, private, and not-for-profit sectors; the strategic deployment of multiple energy sources, including renewables and gas power; and investments in the grid together with software solutions. These steps can enable substantive reductions in emissions quickly and at scale, while advancing the technologies for low or near-zero carbon power generation and helping to meet the continent’s growing energy needs.”

GE Vernova spun-off from GE (NYSE: GE) and began trading as an independent company on the New York Stock Exchange (NYSE) on April 2, 2024. With approximately 55,000 wind turbines and 7,000 gas turbines globally, the company's technology base helps generate about 25% of the world's electricity and has a meaningful role to play in the energy transition. In Africa, GE Vernova-built technologies comprise up to 40% of installed power generation capacity. The company serves up to 260 customers across the continent and has a legacy of over 120 years of presence in Africa, supporting the development of critical infrastructure. It works across the electricity value chain on the continent, from generation through various power sources including wind, hydro, gas, and more, to providing transmission, distribution, and software solutions.

###

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 mission is embedded in its name – it retains its legacy, “GEV,” 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. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

Like most teenagers, Veronica Barner used to act out. Growing up in Bolivia in the late 1990s with two chemical engineers for parents, she would tell her friends that she was going to be a doctor, not an engineer. “That was my rebellious phase,” says Barner, who eventually realized her true calling and is now the head of research and development for Renewable Energy at GE Vernova.

SCHENECTADY, NY. (June, 18, 2024) - GE Vernova Inc. (NYSE: GEV) announced today that delivery is underway for 88 of its 2.8 MW-127m* workhorse wind turbines for Puget Sound Energy’s (PSE) Beaver Creek wind farm in Stillwater County, Montana. Turbine deliveries for the project, which was booked by GE Vernova in the fourth quarter of 2023, first began in May 2024.

The Beaver Creek Wind Project is expected to have an initial capacity of 248 MW, enough energy to power the equivalent of about 83,000 homes per year. The project is expected to utilize an estimated 150-200 skilled workers during construction with an expected ongoing need for 10-15 permanent on-site workers during operation. The project will interconnect on NorthWestern Energy’s system and will use existing PSE transmission lines to bring wind energy back to PSE customers.

Stephen Swift, Chief Commercial Officer of GE Vernova Wind, said: “We are pleased to work with Puget Sound Energy to supply their Beaver Creek Wind Project, which takes advantage of Montana’s strong wind profile to help them drive their clean energy transformation. Like Puget Sound Energy, GE Vernova understands the importance of meeting the demand for clean energy while at the same time continuing to deliver safe and reliable energy. Our GE 2.8 MW-127m workhorse turbines are ideally suited to help PSE and other customers meet ambitious clean energy goals.”

“PSE is excited to leverage our experience developing and operating major wind projects and the expertise of GE Vernova, which has been established in the wind business for decades, for delivery of the Beaver Creek Wind Project,” said Jim Hogan, Director of Major Projects at PSE. “Our partnership with GE Vernova on this project helps us as we take another step forward in delivering one of the most ambitious clean energy transformations of any utility in the country.”

GE Vernova's Onshore wind business has a total installed base of approximately 56,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to its customers' success for more than two decades, its product portfolio offers next-generation technology that leads with high-powered turbines to enable high-quality scale and drive decarbonization through affordable and sustainable generation of renewable energy. The portfolio builds on the 2.8 MW-127m workhorse turbine. With over 23 GW installed and 200 million operational hours, the 2.8 MW-127m is one the best-selling turbines in the U.S. in history. Designed specifically for the U.S. market, the 2.8 MW-127m continues to deliver best-in-industry ease of installation and a high capacity factor.

###

*Note to Editors: GE’s 2.8 MW turbine with a 127 meter rotor is what we refer to as the 2.8 MW-127m.

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

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.

About Puget Sound Energy
Puget Sound Energy (PSE) is proud to serve its neighbors and communities in 10 Washington counties. PSE is the state’s largest utility, supporting approximately 1.2 million electric customers and 900,000 natural gas customers. They aspire to be a beyond net zero carbon energy company by 2045. For more about PSE and what they do, visit pse.com. Also follow them on Facebook and X.

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 GE Vernova's business operations, financial results and financial position and on the global supply chain and world economy.

Vattenfall has taken another step forward in the planning of new nuclear reactors next to the nuclear power plant Ringhals in Sweden. Among six potential suppliers of small modular reactors (SMR), Vattenfall has decided to shortlist GE Hitachi Nuclear Energy for ongoing evaluation.

CAMBRIDGE, Mass. (June 11, 2024) – GE Vernova Inc. (NYSE: GEV) Chief Executive Officer Scott Strazik will present at the JP Morgan Energy, Power, and Renewables Conference in New York City on Tuesday, June 18, at 9:10 AM ET. This conference brings together management teams from the industry to meet with dedicated power industry investors. Strazik will speak in a fireside chat on advancing the energy transition and discuss the outlook for GE Vernova’s Power, Wind, and Electrification segments.

The conference webcast and replay will be available through GE Vernova’s Investor Relations website at https://www.gevernova.com/investors/events/jp-morgan-energy-power-renewables-conference

Additional Information
GE Vernova’s website at https://www.gevernova.com/investors, as well as GE Vernova’s LinkedIn and other social media accounts, contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit these websites from time to time, as information is updated, and new information is posted.

About GE Vernova
GE Vernova 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.

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. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova’s website and LinkedIn. 

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

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

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

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

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

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

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

###

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

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

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

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

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

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

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

[Ishikari Hachinosawa, Hokkaido] (June 6, 2024) - GE Vernova’s Onshore Wind business announced today the start of operations of the Ishikari Hachinosawa Wind Farm located in Ishikari city, in Hokkaido island. The 21 MW wind farm, owned by Ishikari Green Energy Co Ltd, a subsidiary of one of Japan’s largest electric utilities, J-POWER, has been in operation since March 2024, and is powered by 5 units of GE Vernova’s 4.2-117 MW wind turbines, providing the equivalent energy to power approximately 7,400 households.

The project will help enable both companies to support Japan’s goal of increasing the share of the national electricity mix from renewable energy from 36% to 38% by 2030, as outlined by the Ministry of Economy, Trade and Industry’s 6th National Electricity Mix. The project, being GE Vernova’s 2nd 4.2-117 wind turbine project for J-POWER, serves to further strengthen the companies’ relationship following the start of operations of the Esashi Replacement Project in early 2023.

GE Vernova, J-POWER and project construction partners have been working closely to achieve start of operations since the arrival and delivery of the main wind turbine components at Ishikari Shinko Port in May 2023. A unique challenge of the project was coping with snow. Ishikari is a location that experiences heavy snow and blizzards and had undergone incidents of white-outs with severe lightning and thunderstorms during the commissioning of the project. This posed challenges for the project team, who had to stop work periodically to prioritize safety. Daily snow removal work, close collaboration with the customer, and proper last-mile planning enabled the project to be constructed safely, and on-schedule.

Gilan Sabatier, Chief Commercial Officer, GE Vernova’s Onshore Wind business said, “We appreciate the confidence that J-POWER continues to show us in choosing our 4 MW class turbine line for their projects in the county. This is their 23rd wind project in the country, and we are committed to helping to ensure the success of their operations to deliver the power needs of Japan, which is a strategically important country in Asia.”

Katsuya Toda, Department Director of Onshore Wind Power Business Dept. of J-POWER said, “J-POWER is proud to announce the implementation of a new Clean Energy Project in Ishikari Hachinosawa as a joint venture with SymEnergy Inc. We thank GE Vernova and everyone who helped make this project a reality. We will continue to provide many clean energy solutions in Japan to achieve the carbon neutrality goals set forth in J-POWER “BLUE MISSION 2050”.”

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

###

About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses 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. GE Vernova’s Onshore Wind business is a world leader in onshore wind technology. With an installed base of approximately 56,000 turbines around the world, it offers a high-tech product portfolio of turbines for a broad range of site conditions.

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. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

GREENVILLE, N.C. (June 5, 2024) - Next Engineers, a global college - and career - readiness program working to increase the diversity of young people in engineering, celebrated the graduation of its first-ever Engineering Academy students in Greenville, South Carolina.

The 49 students from 24 high schools across the Upstate South Carolina area who completed the program – many of whom plan to enroll as engineering students at Clemson University this fall – were joined by family and friends at The Owens Pavilion at the Clemson University Conference Center and Inn for a celebration to honor their achievements. Clemson University is the educational partner for the local Next Engineers program, which was established in 2021, and GE Vernova engineers and employees from Greenville, S.C. actively engage with the program through skill-based volunteering.

John Intile, Vice President, Engineering, GE Vernova, told the graduates that they carry the legacy of Next Engineers and that they are part of a lineage going back to GE's founder, Thomas Edison.

"Your canvas is broader, your tools more advanced," he said. "You’ll build bridges that connect continents, design sustainable energy systems, and perhaps even send humans to Mars. As you step into this vast universe of possibilities, remember that you’re not alone. The GE Vernova family stands with you. We believe in your potential, your audacity and your ability to change the trajectory of humanity."

Students who complete the Engineering Academy program and enroll in a qualified engineering or engineering-related degree program receive scholarships to support their education towards becoming engineers.

Serita Acker, the executive director of Clemson University’s PEER & WISE, said that the skills and knowledge students have developed have laid a strong foundation.

"I extend my heartfelt congratulations to each and every graduate," she said. "Their commitment and hard work inspires us all, and I have every confidence they will continue to make a positive impact in the field of engineering and beyond.

"I also want to express my sincere gratitude to GE Vernova in Greenville for their unwavering support and partnership throughout this journey. Together, we have laid the groundwork for a brighter future in engineering, and I am excited to see the continued success of Next Engineers in empowering young minds."

The Next Engineers: Engineering Academy is a transformative learning experience designed for students aged 15 to 18. Through a rigorous curriculum, immersive design challenges, and career coaching, participants learn to think and act like engineers.

Key program highlights:

• Dedication: The Engineering Academy spans three years, with students dedicating 220 hours outside of regular school hours to participate.
• Design challenges: In small teams, students tackle increasingly complex design challenges, mastering the engineering design process.
• Foundational skills: Beyond technical knowledge, students develop essential skills such as communication, teamwork, persistence, time management, and presentation abilities.
• Education and career exploration: Workshops and activities prepare students for their next steps, including university campus tours and interactions with company volunteers.
• Scholarships: Students who complete the program and enroll in post-secondary engineering degree programs receive partial scholarships. Next Engineers anticipates granting at least $2 million in scholarships to the inaugural classes of Engineering Academy students worldwide.

Greenville, South Carolina was among the first four locations to launch Next Engineers, with a $5M investment from the GE Foundation in 2021. To date, Next Engineers, which also includes middle school programming, has reached more than 4,600 students across the Upstate.

Next Engineers is not the only way the Upstate community has committed to producing the next generation of STEM talent. The GE John Lammas Annual Scholarship, funded by GE Vernova,  provides $8,000 scholarships to underrepresented students majoring in general engineering, chemical engineering, computer engineering, computer information systems, electrical engineering, industrial engineering, mechanical engineering and materials science and engineering.

For more information about Next Engineers and the Engineering Academy, visit NextEngineers.org.

###

Caption for photograph
(Left to right) Brittany Fatima Sanders, Clemson University Program Manager, Next Engineers; Jennifer Edwards, GE Vernova Foundation Director; Clemson Tiger; John Intile, GE Vernova VP, Engineering; Serita Acker, Clemson University Executive Director, Peer and Wise

About Next Engineers
Next Engineers, a program originally funded by the GE Foundation in 2021, now known as the GE Aerospace Foundation, is a college and career readiness program dedicated to inspiring and preparing the next generation of engineers. Through innovative programs, mentorship, and community partnerships, we empower young minds to shape a better future through engineering.

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 Clemson University
One of the most productive public research universities in the nation, Clemson University attracts and powerfully unites students and faculty whose greatest desire is to make a difference in the lives of others. Ranked among the best national public universities by U.S. News & World Report, Clemson is dedicated to teaching, research and service. Our main campus, located in Upstate South Carolina, sits on 1,400 acres in the foothills of the Blue Ridge Mountains, along the shores of Lake Hartwell. We have a presence in every South Carolina county through research facilities, economic development hubs and Innovation Campuses. Through the research, outreach and entrepreneurial projects led by our faculty and students, Clemson University is driving economic development and improving quality of life in South Carolina and beyond.

CAMBRIDGE, Mass. (May 31, 2024) – GE Vernova Inc. (NYSE:GEV) today announced that it completed the sale of a portion of its Steam Power business to EDF. The transaction includes the manufacturing of conventional island equipment for new nuclear power plants as well as related maintenance and upgrade activities for existing nuclear plants outside of the Americas. As part of the EDF, this business will be called Arabelle Solutions.

GE Vernova CEO Scott Strazik said “Completing this transaction is an important milestone for GE Vernova. I’d like to thank our teams for their efforts to bring this transaction to a successful conclusion. Going forward, GE Vernova plans to continue to be a best-in-class services partner for our other Steam Power customers and is focused on advancing the future of nuclear power with our small modular reactor technology.”

GE Vernova retains a services-focused Steam Power business, including services for more than 100 gigawatts of nuclear turbine islands in the Americas region. It also retains GE Hitachi Nuclear Energy, a leading lifecycle provider for reactor islands, global nuclear fuels, and services, which is working to deploy commercial, grid-scale SMR technologies. GE Vernova remains committed to the nuclear sector and continues to invest in next-generation technology, which plays an important role in today’s energy transition.

Financial terms are not being disclosed.

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, such as the continued success of GE Vernova’s Steam Power business following the sale of a portion of its business to EDF. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.gevernova.com/investors/fls as well as our SEC filings. We do not undertake to update our forward-looking statements.

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 mission is embedded in its name – it retains its legacy, “GEV,” 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. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

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

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

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

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

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

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

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

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

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

###

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

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

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

For more information, visit www.cip.com

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

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

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

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

Forward Looking Statements
This document contains forward-looking statements, which are statements regarding future events that, by their nature, address matters that are, to varying degrees, uncertain. These forward-looking statements often address the expected future business and financial performance and financial condition of GE Vernova and CIP, and the expected performance of their products, the impact of their services and the results they may generate or produce, and often contain words such as "expect", "anticipate", "intend", "plan", "believe", "seek", "see", "will", "would", "estimate", "forecast", "target", "preliminary", " or "range". Forward-looking statements, by their nature, address matters that are, to varying degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the overall supply chain and the world economy. More information.