CAMBRIDGE, Mass. (June 17, 2025) – GE Vernova Inc. (NYSE: GEV) today released its 2024 Sustainability Report highlighting the company’s successful sustainability performance. The report explores GE Vernova’s commitment to building a more sustainable electric power system by presenting progress made on each of the leading goals established in its Sustainability Framework launched last year.

The company also announced three new goals aimed at helping to support the growing global demand for electricity: to bring a total of 150 gigawatts (GW) of new power generating capacity online between 2024 and 2030, adding 30% of new power generation capacity and grid enabling capacity in developing or emerging economies, and to reach 30,000 students and learners through workforce development and training programs by 2030.

“The world needs more electricity and smarter electricity. We are entering an era where electrons are the foundation for growth, prosperity, and security, and our Sustainability Report maps the progress GE Vernova is making to meet this opportunity,” said Scott Strazik, CEO of GE Vernova. “This year’s report is our strongest proof point on how we are working to deliver on our mission to electrify and decarbonize the world together with our customers, our collaborators, and the communities where we operate, and we are just getting started.”

GE Vernova’s Sustainability Framework comprises four pillars – Electrify, Decarbonize, Conserve, and Thrive – each with leading goals that are core to the company’s sustainability programs, helping align its business performance with non-financial impacts.

Some key highlights from the 2024 Sustainability Report include:

• Electrify:
  • Brought an additional 31 GW of new power generating capacity online, more than the entire generating capacity of the U.S. state of Virginia, with 62% in developing and emerging economies.
  • Energized 71 GW of new power transformers, enabling new transmission capacity equivalent to the installed generating capacity of South Africa, with 34% in developing and emerging economies.
  • Announced three new goals: adding 150 GW of new power generating capacity by 2030, ensuring that 30% of new capacity added each year is in emerging and developing economies (as defined by the International Monetary Fund), and training 30,000 students and learners through workforce development programs by 2030.
  • Bringing a total of 150 GW of new power generating capacity online between 2024 and 2030, adding 30% of new power generation capacity and grid enabling capacity in developing or emerging economies; and reaching 30,000 students and learners through workforce development and training programs by 2030.
• Decarbonize:
  • Earned estimated carbon intensity ~20% below the global average of the existing grid for new generating capacity, avoiding ~27 million metric tons CO2 emissions in first full year of operations for new generating capacity, equivalent to 6.3 million gasoline-powered passenger vehicles driven for one year.
  • Reiterated its ambition to deploy and commercialize breakthrough technologies –hydrogen, carbon capture and storage, direct air capture, small modular reactors– to make progress toward net zero Scope 3 emissions from use of sold products by 2050.
• Conserve:
  • Reduced operational Scope 1 & 2 emissions (market-based) by 51% since 2019, achieved through improvements in internal processes across energy efficiency, SF6 reduction, and through purchasing renewable electricity and energy attribute certificates (EACs).
  • Announced a 38% coverage of its top products under the company’s 4R circularity framework.
• Thrive:
  • Released the first company-wide Human Rights Report and conducted 576 new supplier audits, with 559 suppliers approved and 17 suppliers rejected.
  • Donated over 23,000 GE Vernova employee volunteer hours, with nearly 1,300 global charities supported by the GE Vernova Foundation.
  • Facilitated over 9,300 student interactions through its Next Engineers program, donated 4,000+ hours by GE Vernova volunteers, with ~90% of Engineering Academy graduates going on to pursue engineering in higher education or through industry apprenticeships.

“I’m proud of our sustainability performance that follows through on our commitment to be a force for good for our investors and for the planet, people, and communities,” said Roger Martella, GE Vernova’s Chief Corporate Officer and Chief Sustainability Officer. “GE Vernova’s manufacturing strength and our employees who drive it position us uniquely to building some of the most complex equipment the planet needs.”

Apart from the new announced goals, GE Vernova’s latest sustainability report highlights new sections including the company’s commitment to the next generation of energy leaders, its efforts in driving energy sector innovation to power artificial intelligence and data centers, as well as its new Product Life Cycle Compliance (PLCC) program designed to scan, track, assess, and implement current and future product compliance regulations. The company also obtained external, third-party limited assurance on Scope 1, Scope 2, and Scope 3 use of sold products emissions to strengthen the foundation of GE Vernova's sustainability reporting and decarbonization strategy.

For more information, visit gevernova.com/sustainability and read the full 2024 Sustainability Report and the Executive Summary.

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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 statements about such as our expectations regarding electrification and decarbonization and the role that we and our products and services can play in such electrification and decarbonization. Forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from current expectations. These risks, uncertainties, and factors include those discussed in our Annual Report on Form 10-K for the year ended December 31, 2024, and in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" sections included therein, as may be updated from time to time in our filings with the U.S. Securities and Exchange Commission and as posted on our website at www.gevernova.com/investors/fls. GE Vernova does not undertake any obligation to update or revise its forward-looking statements except as required by law or regulation.

NAIROBI, Kenya (June 11, 2025) – GE Vernova Inc. (NYSE:GEV) today announced that the GE Vernova-Larsen & Toubro (L&T) consortium will build an advanced National System Control Center (NSCC) for Kenya Electricity Transmission Company (KETRACO) to monitor and manage Kenya’s national electricity grid. The work will include constructing a Main Control Centre building in Embakasi, equipped with advanced grid software solutions and the latest substation automation, monitoring, and communication equipment. Additionally, an Emergency Control Centre building in Suswa will be constructed, featuring the same systems and an Enterprise Asset Management (EAM) system for transmission operations. GE Vernova booked the order in the first quarter of 2025.

Kenya's Electricity Goals
Kenya has set ambitious electricity goals aimed at achieving universal access and transitioning to a sustainable energy future. The country aims to ensure that 100% of its population has access to reliable and affordable electricity by 2030. To achieve this, Kenya is investing heavily in expanding its electricity grid and enhancing generation capacity. Additionally, Kenya is focusing on enhancing energy efficiency and developing smart grid technologies to optimize electricity transmission, distribution and consumption.

“A new, advanced NSCC is essential for managing increased electricity demand as Kenya's economy grows. When commissioned, the new NSCC system would play a critical role in supporting our mandate as System Operator(SO). It will ensure reliable, secure, and efficient electricity transmission across the country. It is a game-changer for Kenya’s electricity transmission capabilities, significantly improving our ability to manage the grid, enhance the quality of power, and integrate renewable energy sources,” said Dr. Eng. John Mativo, MBS, Managing Director and CEO at KETRACO.

Consortium Roles and Responsibilities
GE Vernova, through its French entity Grid Solutions SAS, will lead the consortium and provide advanced grid technology from its Electrification Software and Grid Automation portfolio. This technology includes two solutions from its GridOS® orchestration software portfolio—Advanced Energy Management Systems (AEMS) and Wide Area Management Systems (WAMS)—Enterprise Asset Management Systems (EAM), and several solutions from its grid automation portfolio - GridBeats™ - Asset Performance Management System (APM), Condition Monitoring devices, Substation Automation Systems, and Telecommunication Systems. Larsen & Toubro will handle all civil works, including the construction of two fully equipped greenfield control center buildings, equipment installation, and support for system configuration, testing, and commissioning. The project is expected to be completed within three years.

“GE Vernova is uniquely positioned to handle projects of this scale and complexity, requiring both advanced software solutions and grid automation equipment, as well as unique financing solutions. With our comprehensive capabilities in managing such projects end-to-end, we believe KETRACO will significantly benefit from GE Vernova’s expertise, ensuring seamless integration and operational efficiency from project inception to completion,” said Philippe Piron, CEO of GE Vernova’s Electrification Systems businesses. “By providing Kenya with an advanced electricity control center, we’re aiming to enhance the reliability and efficiency of its national grid. This is a pivotal step in paving the way for a more sustainable future that supports the country’s electrification and decarbonization goals.”

Financial and Development Support
The project is made possible through a financing partnership with the French Development Agency (AFD) and the French Treasury, which are providing vital support to KETRACO for the development of a stronger and more sustainable electricity grid in Kenya. This collaboration reflects a shared commitment to advancing Kenya’s energy goals by enabling more reliable and efficient power infrastructure.

“France is committed to supporting sustainable infrastructure projects in Kenya, notably in the Power sector, as part of the broader ongoing collaboration between Kenya and France on energy transition and climate. A modern NSCC will make the Kenyan grid more resilient and reliable, enabling the integration of more variable renewable energy and ultimately providing more reliable and affordable power to Kenya’s businesses and households. The project is fully financed by France with two separate and complementary financing from AFD and the French Treasury, supported by a related grand from the European Union dedicated to Capacity building,” said H.E Arnaud Suquet, the French Ambassador to Kenya.

GE Vernova’s Financial Services business played an integral role in the procurement process, advising the consortium and securing concessional financing from the French Treasury to supplement AFD’s funding. This seamless partnership showcases the importance of combining technical expertise with innovative financing to deliver impactful, future-ready energy solutions.

-ENDS-

Notes to Editors
A National System Control Center (NSCC) is like a central brain of a country's electricity grid. It's responsible for monitoring, controlling, and optimizing the flow of electricity across the entire power system. It can also effectively integrate renewable energy sources like solar, wind, and geothermal into the grid. Real-time monitoring allows for prompt corrective actions, improving grid stability and reducing the risk of power outages and blackouts.

TOKYO, Japan (June 10, 2025) - GE Vernova (NYSE: GEV) and Japan’s Ministry of Economy, Trade and Industry (METI) today announced the launch of a first-of-its-kind focus group aimed at addressing challenges and opportunities and deepening collaboration in energy security and supply chain. The initiative was announced at a launch ceremony attended by METI’s Director-General for Energy and Environmental Policy, Shinichi Kihara, and GE Vernova’s Chief Corporate Officer and Chief Sustainability Officer, Roger Martella, witnessed by the State Minister of Economy, Trade and Industry, Yuichiro Koga.

This significant initiative aligns with Japan-US energy policy, building upon current’ relations, to further solidify cooperation between the two nations to strengthen the energy sector. The focus group will serve as a dedicated platform for GE Vernova and METI to engage on key themes crucial to Japan’s energy landscape, which include energy security in wind power; innovation in gas turbines utilizing hydrogen, ammonia, and Carbon Capture and Storage; and opportunities in electrification and nuclear energy.

The focus group will also endeavor to deepen collaboration between GE Vernova and Japanese companies in the energy sector. As part of the launch, GE Vernova signed the following Memoranda of Understanding (MOUs) with leading Japanese companies:

• Collaboration with Eurus Energy Holdings Corporation to explore opportunities under the GX (Green Transformation) Industrial Location in northern Hokkaido, utilizing GE Vernova’s onshore wind turbines for data center power needs and accelerate renewable energy adoption.
• Collaboration with Mitsubishi Electric Corporation’s Semiconductor Business to supply Insulated Gate Bipolar Transistors (IGBTs) for GE Vernova’s High Voltage Direct Current (HVDC) projects —supporting advanced electrification solutions and grid modernization worldwide.

“We welcome the opportunity to play a vital role in the advancement of the global energy sector in partnership with GE Vernova, a leading U.S. energy company with deep roots in Japan. This focus group, a testament to positive Japan-US bilateral ties, and the MOUs with our national champions Eurus Energy and Mitsubishi Electric, will serve as a powerful platform to drive innovation and strengthen our energy resilience for the future”, said Mr. Shinichi Kihara, Director-General for Energy and Environmental Policy, Ministry of Economy, Trade and Industry.

"With the launch of this first-of-its-kind focus group alongside METI, we are taking decisive action toward addressing the challenges facing the global energy sector. Our strong, ongoing relationships with Eurus Energy and Mitsubishi Electric are a step further in this endeavor, as we jointly explore the vast potential of onshore wind and electrification as key areas of focus. This collaboration is aligned with Japan’s 2050 net zero goals, and we are committed to delivering tangible progress in energy security and innovation across the energy value chain globally, through the development of breakthrough innovations like hydrogen, ammonia, advanced nuclear, and carbon capture technologies”, said Roger Martella, Chief Corporate Officer and Chief Sustainability Officer, GE Vernova.

GE Vernova has a long-standing presence in Japan, spanning over 130 years, and remains a key partner in the nation’s decarbonization journey. With approximately 450 employees in Japan, GE Vernova and its technologies contribute significantly to Japan’s stable power supply, accounting for around 50% of the country’s installed Heavy-Duty Gas Turbine power generation capacity and 25% of the country’s onshore wind capacity through its gas turbines, steam turbines, nuclear power, and wind turbines. All of GE Vernova’s business segments – Power, Wind, and Electrification – have a strong footprint in the country, positioning the company to optimize Japan’s energy system with holistic solutions across the entire energy value chain.

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Photo captions

Photo 1: Roger Martella (left), Chief Corporate Officer and Chief Sustainability Officer of GE Vernova; Yuichiro Koga (center), State Minister of Economy, Trade and Industry; and Shinichi Kihara (right), Director-General for Energy and Environmental Policy at the Ministry of Economy, Trade and Industry, at the signing ceremony.

Photo 2: Roger Martella (left), Chief Corporate Officer and Chief Sustainability Officer of GE Vernova; Tetsuya Suwabe (center), President and CEO of Eurus Energy Holdings Corporation; and Yuichiro Koga (right), State Minister of Economy, Trade and Industry, at the signing ceremony.

Photo 3: Johan Bindele (left), Vice President and CEO of Grid Systems Integration at GE Vernova; Masayoshi Takemi (center), Executive Officer and Group President of Semiconductor Device at Mitsubishi Electric Corporation; and Yuichiro Koga (right), State Minister of Economy, Trade and Industry, at the signing ceremony.

VADODARA, INDIA (June 6, 2025) – GE Vernova Inc. (NYSE: GEV) announced today that it has commissioned the first of four 250 megawatts (MW) variable speed units at THDC India Limited’s Tehri Pumped Storage Hydropower Plant, part of the Tehri Hydropower Complex. With this 1 gigawatt (GW) expansion, the complex will reach 2.4 GW of generating capacity and become India’s largest hydropower complex. The project’s reservoir will also help provide support with irrigation and drinking water during non-monsoon periods to the state of Uttarakhand, where it is located.

“With this project, Tehri will become India’s first power plant to use variable speed pumped storage technology and the country’s most modern hydropower station. With fast transition between the turbine and pump operation, the four new units are expected to enable power control, leading to significantly improved grid flexibility. These are all crucial capabilities as more renewables are integrated into the country’s energy mix,” said Frederic Ribieras, CEO of GE Vernova’s hydropower business.

Hydropower remains a cornerstone of India's renewable energy landscape, with an installed capacity of approximately 51 GW as of early 2024, positioning the nation as fifth globally in hydroelectric capacity.

Pumped Storage units help stabilize the grid by acting as giant batteries: water is pumped from the lower to the upper reservoir in times of surplus energy and, in times of demand, water from the upper reservoir is released, generating electricity as the water passes through the turbine. This technology is the largest source of long duration energy storage globally, representing about 94%* of total energy storage capacity.

For this project, GE Vernova capitalizes on its broad portfolio of technologies to generate, transfer and store power to deliver a full water to wire solution, spanning from electrical, hydraulic machines to converters. The project includes the integration of the four doubly fed induction motor generators and the associated pump turbines with the power electronics and control systems.

Tehri Hydropower Complex includes:

• 1 GW Tehri Hydropower Plant commissioned in 2006.
• 400 MW Koteshwar Hydropower Plant commissioned in 2012.
• 1 GW Tehri Pumped Storage Hydropower Plant, where GE Vernova is currently delivering four 250 MW Pumped Storage Variable Speed Doubly Fed systems.**

GE Vernova has a substantial presence in India, across generation, transmission and distribution. The company has five Technology and Engineering Centers focused on advancing research, development and innovation in new technologies and solutions. Additionally, the company operates 11 manufacturing sites that are undertaking local production and generating employment. The company’s workforce in India comprises of over 10,000 employees, including more than 3,000 engineers and technologists.

^{*According to the International Hydropower Association.}

^{**Under an order signed in 2011 with Tehri Hydro Development Corporation India Limited (THDC).}

LONDON, United Kingdom (June 5, 2025) – GE Vernova (NYSE: GEV) today announced that Uniper signed a contractual service agreement to upgrade three GT26 gas turbine units powering Uniper’s Grain power station in Kent, UK. This GT26 High Efficiency (HE) upgrade is expected to increase efficiency and the power output, while supporting Uniper’s ambition to decarbonise its fleet by reducing carbon intensity (CO₂ emissions per MW) at the plant.

“Increasing efficiency and the ability to maintain high availability, while lowering operational, and maintenance costs, is crucial for the long-term success of Grain power station,” said Bill Cliff, Uniper power station manager Enfield, Grain and Taylors Lane. “We worked with GE Vernova on the validation of GE Vernova’s GT26 HE upgrade at our Enfield power station, so we already had experience of this technology. Investment in our assets to reduce their carbon intensity, increase capacity and maintain reliability for security of supply is key for both Grain and Enfield power stations.”

At Enfield, the modernisation project improved performance and extended the maintenance interval of the combined cycle gas turbine. GE Vernova’s prior testing on the GT26 HE technology indicated increases in plant output approximately 25 megawatts (MW) per unit, a 1 percent increased efficiency in part load and a 1.8 percent increase in baseload efficiency, worth up to $1 million fuel savings per unit per year, and maintenance intervals extended up to 32,000 hours.

“For years, GE Vernova and Uniper have worked together to build and maintain power plants, using leading technologies and this upgrade marks another example of our successful cooperation,” said Joseph Anis, President and CEO of GE Vernova's Gas Power business in Europe, Middle East, and Africa. “This upgrade is expected to revitalise Uniper’s Grain power plant and to increase its reliability and availability in the Great Britain generation landscape, supporting its long-term profitability and viability. GE Vernova is well-positioned to provide services and upgrade solutions as customers continue to invest in their fleets to meet rising electricity demand and improve performance.”

GT26 HE Upgrade at a glance
The GT26 HE upgrade includes additive manufactured parts, and innovations in material science and combustion and combines the best from both GE Vernova’s F- and H-Class fleets.

As of end of March 2025, the GT26 HE fleet has achieved more than 100,000 operating hours. With 15 units sold and 8 units in operation, this significant achievement reflects the GT26 HE upgrade’s remarkable performance and reliability.

Key performance benefits[1] include:

Higher efficiency for combined-cycle power plants:

• Approximately 2 percent base load increased efficiency,
• Up to 1 percent increased efficiency in part load
• Increased plant output from 15 up to 55 MW per unit, improving revenue.

[1] Indicative values based on:

• Rating GT26 2006 configuration
• 6,500 yearly operating hours
• 4,000 full load hours yearly.

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Notes to editors

Financial Editors: Please note this order was booked in the first quarter of 2025.
To learn more on the upgrade: https://www.gevernova.com/gas-power/services/gas-turbines/gt26-service-solutions/high-efficiency

About Uniper
Düsseldorf-based Uniper is a European energy company with global reach and activities in more than 40 countries. With around 7,500 employees, the company makes an important contribution to security of supply in Europe, particularly in its core markets of Germany, the UK, Sweden, and the Netherlands. Uniper’s operations include power generation in Europe, global energy trading, and a broad gas portfolio. Uniper procures gas – including liquefied natural gas (LNG) – and other energy sources on global markets. The company owns and operates gas storage facilities with a total capacity of more than 7 billion cubic meters.   

Uniper aims to be carbon-neutral by 2040. To achieve this, the company is transforming its power plants and facilities and investing in flexible, dispatchable power generation units. Uniper is one of Europe’s largest operators of hydropower plants and is helping further expand solar and wind power, which are essential for a more sustainable and secure future. Uniper is gradually adding renewable and low-carbon gases such as biomethane to its gas portfolio and is developing a hydrogen portfolio with the aim of a long-term transition. The company plans to offset any remaining CO₂ emissions by high-quality CO₂-offsets.   

Uniper is a reliable partner for communities, municipal utilities, and industrial enterprises for planning and implementing innovative, lower-carbon solutions on their decarbonization journey. Uniper is a hydrogen pioneer, is active worldwide along the entire hydrogen value chain, and is conducting projects to make hydrogen a mainstay of the energy supply. 

In the UK, Uniper owns and operates a flexible generation portfolio of power stations, a fast-cycle gas storage facility and two high pressure gas pipelines, from Theddlethorpe to Killingholme and from Blyborough to Cottam. We also have significant long-term regasification capacity at the Grain LNG terminal in Kent, to convert LNG back to natural gas. https://www.uniper.energy/

Zigzagging across fields, within sight of the blink-and-you’ll-miss-it downtown of Hermleigh, Texas, the Pyron Wind Farm is typical of America’s wind power fleet: efficient, high-tech, and Texas-sized.

RIYADH, SAUDI ARABIA (May 28, 2025): GE Vernova (NYSE: GEV) today announced it has secured an order for five 7H-Class gas turbines - three 7HA.03 and two 7HA.02 units from Técnicas Reunidas and Orascom Construction (TR & ORASCOM CONSTRUCTION). The two companies have signed, under a 50-50 joint venture, the Engineering, Procurement and Construction (EPC) contract for Qurayyah Independent Power Plant (IPP) Expansion Project in the Eastern Province in Saudi Arabia).

This expansion project, a 3 gigawatt (GW) combined cycle gas-fired power plant with readiness to build a carbon capture unit, aims to bolster electricity production capacity and enhance operational efficiency in Saudi Arabia. Expanding Saudi Arabia’s fleet of combined cycle power plants plays a crucial role in Saudi Arabia’s plan to generate half of its electricity from gas by 2030 and half from renewables, paving the way to net-zero greenhouse gas (GHG) emissions by 2060.

Hajr Two Electricity Co., a company owned by ACWA Power, the Saudi Electricity Company (SEC), and Haji Abdullah Alireza & Co. Ltd signed a Power Purchase Agreement (PPA) for the Qurayyah Independent Power Plant (IPP) Expansion Project with the Saudi Power Procurement Company (SPPC – Principal Buyer) in February 2025.

Hajr Two Electricity Co. commented: “The QIPP Expansion Project is a very ambitious project and we are proud to support its development. We look forward to working with TR & ORASCOM CONSTRUCTION and GE Vernova to contribute to Saudi Arabia’s enhancement of its electricity supply as the Kingdom transitions its power generation mix to incorporate more renewable energy in alignment with Saudi Vision 2030 and its ambitious sustainability targets.”

“QIPP project is evidence of Saudi Arabia’s strong belief in the future of gas as it emits less CO₂ and other pollutants than oil-fueled power plants” said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. “We have developed a productive and successful relationship with TR & ORASCOM CONSTRUCTION building on our proven expertise in natural gas combined cycle plant engineering, operability, and plant integration, and we are delighted to deploy some of our most advanced power generation technologies, with the potential to integrate carbon capture solutions to help significantly reduce carbon dioxide emissions in QIPP’s and other gas power plants in Saudi Arabia.”

GE Vernova has been playing a pivotal role in fostering the evolution of the Kingdom’s energy infrastructure for almost 90 years, supporting economic diversification, localization, high value exports, and talent development efforts and still does so today in support of Saudi Vision 2030.

The company currently employs approximately 850 people in Saudi Arabia. GE Vernova’s investments in the Kingdom include the Khobar Integration Facility (KIF) for grid solutions, as well as the GE Manufacturing and Technology Center (GEMTEC) campus in Dammam, which encompasses a Services and Repairs Center for gas turbines, the GE Saudi Advanced Turbines (GESAT) facility for the manufacturing of gas turbines, components and accessory modules, the GE MENA Decarbonization Center of Excellence, and a Monitoring & Diagnostics Center for the remote monitoring of power generation assets.

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Notes to editors

For Financial editors: This announcement was included in GE Vernova's recent announcement of initiatives worth up to $14.2 billion in Saudi Arabia, as part of the $2 billion in backlog the first quarter of 2025.

GE Vernova’s action on electrification and decarbonization go hand in hand with a vision of optimism for the future of energy and sustainability. See how GE Vernova is building the energy of change inside its manufacturing floors.