Shenzhen, Guangdong Province, China (January 9, 2025) - GE Vernova Inc. (NYSE:GEV) and Harbin Electric today announced that Chinese state-owned power utility Shenzhen Energy Group Corporation Co., Ltd.‘s Guangming power plant has achieved the start of operation in Shenzhen Guangming, a district of Guangdong province in China. Powered by three GE Vernova 9HA.01 gas turbines, Guangming plant is expected to deliver up to 2 gigawatts (GW) of electricity to the most populous province in the country, with a population of approximately 127 million.

China aims to achieve a carbon emissions peak by 2030 and achieve carbon neutrality by 2060. Driven by these goals, the country is committed to reduce coal’s share of its energy mix and expedite the building of highly efficient gas-powered combined cycle plants, like Guangming power plant. This project is also aligned to local government policy reform in the Greater Bay Area focused on the coal-to-gas energy transition.

GE Vernova has collaborated with Shenzhen Energy Group for two decades, and both are committed to addressing the growing electricity needs while building a lower-carbon, more efficient and safer energy system in Guangdong. GE Vernova H-Class gas turbines not only have the ability to generate significant electrical output in a flexible and efficient way, but also help to ensure reliability of supply. This is crucial for the population of Guangdong province.

“Natural gas-fired generators have the lowest CO2 emissions of all fossil power generation fuels—and are ideal for countries like China where the need to transition from coal at scale while retaining reliability of supply is paramount,” said Xu Xin, President of GE Vernova Gas Power China Services. “We are excited to work together with Harbin Electric and bring our advanced HA technology, which offers among the lowest carbon emissions per amount of fossil fuel in the industry, to give power plant operators, like Shenzen Energy Group, the ability to use fossil fuels more efficiently and lower carbon emissions compared to older coal power plants.”

To further advance on the path towards decarbonization utilizing gas power, GE Vernova 9HA.01 gas turbine has the capability to burn up to 50% by volume of hydrogen when blended with natural gas—offering a pathway for even lower carbon emitting operations.

For this project, Harbin Electric provided steam turbines and generators, and the gas turbines were provided by the Joint Venture called General Harbin Electric Gas Turbine (Qinhuangdao) Co., Ltd (“Joint Venture”), which was formed in 2019 between GE Vernova and Harbin Electric as a joint effort to focus on heavy duty gas turbine localization, aiming to deliver more efficient and reliable support for China natural gas power plants.

Operating in China for over 40 years, GE Vernova has been delivering innovative products and services that create significant value for its gas power generation customers, helping power plant operators to tackle the energy transition challenge. GE Vernova Gas Power serves more than 110 customers and more than 240 gas turbines in China, with an installed power capacity of 50 gigawatts (GW). To date, GE Vernova has secured six HA projects with 13 9HA gas turbines in China, delivering a total capacity of nearly 10 GW.

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

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.

GE Vernova and Harbin Electric
GE Vernova’s Gas Power has continuously deepened its cooperation with its local partner, establishing a strategic partnership with Harbin Electric. The two companies established Qinhuangdao Energy Service Center in 2004, focusing on the maintenance and services of heavy-duty gas turbines hot gas path components. From 2017, GE Vernova entered this strategic partnership to build a gas turbine manufacturing joint venture in Qinhuangdao. GE Vernova has long operated with a commitment to a comprehensive localization structure that effectively increases its responsiveness to customer needs and reduces the cost of new units and services.

Singapore has always been synonymous with progress. Upon becoming independent in 1965, the Asian island nation adopted “Majulah Singapura,” the Malay for “Onward Singapore,” as its motto and national anthem.

SINGAPORE (January 6, 2025) - GE Vernova Inc. (NYSE: GEV), with support from the Singapore Economic Development Board (EDB), today announced plans to invest USD$20 million to introduce development of next-generation repair capabilities and technologies for GE Vernova’s High Efficiency, Air-Cooled (HA) gas turbines at its Advanced Manufacturing Repair Technology (AMRT) Center located at the Global Repair Service Center in Singapore. This investment follows GE Vernova’s 2019 announcement to invest up to USD$60 million over 10 years to make the Global Repair Service Center in Singapore a world leader in power generation technology development, implementation and repairs. This commitment is designed to strengthen current HA repair capacity in the region through the introduction and development of repair capabilities and innovative robotic technologies leveraging AI, the implementation of lean methodologies and the hiring of over 100 technical roles in the next five years.

The announcement was unveiled during a signing ceremony for an agreement between GE Repair Solutions Singapore Pte. Ltd. a wholly owned subsidiary of GE Vernova, with EDB and GE Vernova’s leadership attending, including Scott Strazik, GE Vernova’s CEO, and Png Cheong Boon, EDB Chairman, and Cindy Koh, EDB Executive Vice President.

Gas is going to play an incredibly important role this decade and our gas turbine installed base is growing rapidly in Asia. A dollar invested in gas isn't a dollar invested in carbon forever as GE Vernova’s gas power technology is engineered to support the path towards decarbonization adopting pre- or post-combustions solutions.

“With today’s commitment and EDB’s support, our Global Repair Service Center in Singapore is set to become a beacon of innovation in repair capabilities by introducing new and groundbreaking technologies to meet our customer’s needs. We believe that the Singapore-GE Vernova collaboration will lead to another important building block of success for the long-term future of Singapore and the region with more innovative gas turbine repair technology,” said Ramesh Singaram, President and CEO, Asia at GE Vernova’s Gas Power. “Owners of HA gas turbines in the region will benefit from improvements to lead time and delivery of repair components in support of their outage needs. As Asia’s population and power demands continue to grow, GE Vernova intends to expand our capabilities to better support HA repair capabilities in the region with this facility.”

Currently over one-third of GE Vernova’s HA gas turbines are located in or are on order for the region. Asia’s projected continued growth trajectory also means the percentage of HA turbines in the region is expected to grow.

GE Vernova’s H-Class Combined Cycle power plant is engineered to support the path towards decarbonization of gas power. It is the most responsive and flexible in the industry enabling grid operators to dispatch power quickly and a great complement to intermittent renewables sources. Currently, the HA gas turbines have the capability to burn up to 50% by volume of hydrogen when blended with natural gas, with a technology roadmap to achieve 100% hydrogen in this platform in the next decade.

“We welcome GE Vernova’s investment to introduce repair capabilities for new generations of gas turbines and technologies in advanced robotics at its Singapore facility, which is one of its top-performing repair centers globally,” said Cindy Koh, Executive Vice President, EDB. “This reflects the capabilities of our advanced manufacturing ecosystem in supporting companies in new product introduction and manufacturing process development. Singapore continues to invest in innovation so we can be a strong partner for companies in advanced manufacturing.”

The facility is now one of GE Vernova’s largest gas turbine repair facilities globally with special capability for HA gas turbines. GE Vernova’s world-class manufacturing and services facility in Greenville will continue to represent the company’s largest gas turbine manufacturing plant and the HA Repairs Center of Excellence for the Americas Region, with the most powerful off-grid gas turbine validation facility in the world.

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Signing ceremony picture (left to right):
EDB Officials: Stanley Toh, Senior Associate, Mobility & Industrial Solutions (M&I), EDB; Teo Yi Yun, Senior Manager, M&I, EDB; Lim Tse Yong, SVP & Head, (M&I), EDB; Cindy Koh, Executive VP Advanced Manufacturing, EDB; Png Cheong Boon, Chairman, EDB; GE Vernova officials: Scott Strazik, CEO, GE Vernova; Ramesh Singaram, President & CEO, Gas Power Asia, GE Vernova; Zoltan Horvath, Global Supply Chain Development Leader, Gas Power, GE Vernova; Dominic Ang, Executive Plant Director, GRSS, GE Vernova; Venkat Kannan, President Commercial, APAC & China, Gas Power Asia, GE Vernova.

SANTO DOMINGO, REPUBLICA DOMINICANA (16 de diciembre de 2024) - GE Vernova Inc. (NYSE: GEV) anunció hoy que ha conseguido un pedido para suministrar sus equipos de generación de energía de ciclo combinado a gas natural Clase H para la central eléctrica de 470 megavatios (MW) de Generadora San Felipe Limited (GSF) en Punta Caucedo, Boca Chica, República Dominicana. Este proyecto supone el primer pedido de turbinas de gas Clase H de GE Vernova en el Caribe. Contribuirá a la implementación de las ambiciones climáticas y los objetivos de desarrollo sostenible de República Dominicana, apoyando la rápida expansión de las energías renovables a través de su perfil de potencia despachable.

El país caribeño, una de las economías de más rápido crecimiento de América Latina, ha conseguido en los últimos años sustituir la mayor parte de su capacidad de generación de electricidad a partir de petróleo por gas natural. El gas natural representa casi la mitad de toda la energía generada en la República Dominicana y desempeña un papel crucial en la transición energética del país, ya que apoya y complementa la expansión de las fuentes renovables. Las centrales de ciclo combinado de gas natural son las que menos emiten, ya sea en términos de CO2, SOx, NOx, partículas o mercurio.

“Nuestra nueva planta, alimentada por la tecnología altamente eficiente Clase H de GE Vernova, apoyará nuestros esfuerzos para suministrar electricidad menos intensiva en carbono y más confiable, lo cual es fundamental para el crecimiento de la productividad del país, y el bienestar de las personas”, dijo Antonio Ramírez, Director General de Generadora San Felipe. “Confiamos en la sólida reputación de la tecnología HA y recurrimos a GE Vernova, líder en innovación en el camino hacia la descarbonización, basándonos en una larga colaboración entre nuestras dos empresas”.

La nueva central eléctrica de San Felipe cuenta con un bloque generador multieje, equipado con una turbina de gas GE Vernova 7HA.02 acoplada a un generador H65, una turbina de vapor STF-A650 acoplada a un generador H35, un generador de vapor de recuperación de calor (HRSG) de triple presión con recalentamiento y un condensador.

“El desarrollo de la central eléctrica de San Felipe es un proyecto muy ambicioso, y estamos orgullosos de apoyarlo”, dijo Dave Ross, Presidente del negocio Gas Power de GE Vernova en la región de las Américas. “Una vez terminada, se espera que la central sea una de las más eficientes del Caribe y pueda configurarse con sistemas de captura de carbono tras la combustión para reducir significativamente las emisiones de dióxido de carbono. Además, nuestra turbina de gas GE Vernova HA es altamente flexible en cuanto al combustible y capaz de operar con una variedad de combustibles, incluyendo mezclas de hidrógeno y gas natural para ofrecer múltiples vías para reducir las emisiones de carbono y trabajar hacia operaciones cercanas a cero en la próxima década”.

Con el mayor número de unidades de la Clase H en funcionamiento comercial, las turbinas de gas HA de GE Vernova han acumulado más de 2,5 millones de horas de funcionamiento comercial y siguen siendo la flota de más rápido crecimiento en el segmento de turbinas de gas pesadas de la Clase H. El parque cuenta con una capacidad instalada de más de 53 gigavatios (GW) de potencia, el equivalente a la capacidad necesaria para abastecer a casi 40 millones de hogares estadounidenses. Las turbinas de gas de HA pueden ahorrar más de 3,3 toneladas de emisiones de CO2 al año, por unidad, en comparación con una central de carbón del mismo tamaño. Esto equivale a retirar 680.000 coches de la carretera por cada unidad de HA desplegada.

Está previsto que la central eléctrica de San Felipe, construida por la empresa española de ingeniería, compras y construcción (EPC) TSK Electrónica y Electricidad S.A. (Grupo TSK), empiece a funcionar en 2027. La planta está situada junto a la terminal de GNL de AES/ENADOM, con una capacidad total de almacenamiento de GNL de 250.000 m3.

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Notas a los editores

Editores financieros:  Tengan en cuenta que este pedido se contabilizó en el segundo trimestre de 2024.

©2024 GE Vernova y/o sus filiales. Todos los derechos reservados.

GE y el monograma GE son marcas comerciales de General Electric Company utilizadas bajo licencia de marca comercial.

Declaraciones Prospectivas

Este documento contiene declaraciones prospectivas, es decir, declaraciones relativas a acontecimientos futuros que, por su naturaleza, abordan cuestiones que son, en distintos grados, inciertas. Estas declaraciones prospectivas se refieren a menudo a los futuros resultados empresariales y financieros esperados de GE Vernova y a su situación financiera, así como al rendimiento esperado de sus productos, el impacto de sus servicios y los resultados que puedan generar o producir, y a menudo contienen palabras como “esperar”, “prever”, “pretender”, “planificar”, “creer”, “buscar”, “ver”, “hacer”, “haría”, “estimar”, “prever”, “objetivo”, “preliminar” o “rango”. Las declaraciones prospectivas, por su propia naturaleza, se refieren a cuestiones que son, en distintos grados, inciertas, como las declaraciones sobre transacciones, inversiones o proyectos previstos y potenciales y sus resultados esperados, y las repercusiones de las condiciones macroeconómicas y del mercado y la volatilidad en las operaciones comerciales, los resultados financieros y la situación financiera de la empresa, así como en la cadena de suministro global y la economía mundial.

Acerca de GE Vernova

GE Vernova (NYSE: GEV) es una compañía energética global que incluye los segmentos de Energía, Eólica y Electrificación y está apoyada por sus negocios aceleradores. Basándose en más de 130 años de experiencia afrontando los retos del mundo, GE Vernova se encuentra en una posición única para ayudar a liderar la transición energética continuando con la electrificación del mundo y trabajando simultáneamente para descarbonizarlo. GE Vernova ayuda a sus clientes a alimentar las economías y suministrar electricidad que es vital para la salud, la seguridad y la mejora de la calidad de vida. GE Vernova tiene su sede en Cambridge, Massachusetts, EE.UU., y cuenta con más de 75.000 empleados en más de 100 países de todo el mundo. Apoyada por el propósito de la compañía, The Energy to Change the World, la tecnología de GE Vernova ayuda a ofrecer un futuro energético más asequible, fiable, sostenible y seguro.

El negocio de Gas Power de GE Vernova diseña tecnologías y servicios avanzados y eficientes que funcionan con gas natural, junto con soluciones de descarbonización que tienen como objetivo ayudar a electrificar un futuro con menos carbono. Es líder mundial en turbinas de gas y tecnologías y servicios para centrales eléctricas de gas, con la mayor base instalada del sector, aproximadamente 7.000 turbinas de gas.

Más información: GE Vernova y LinkedIn.

Para más información, contacta a:

Verenice León
Ejecutiva de Cuentas SR
verenice@milenium.group 

ATLANTA, GA (December 16, 2024) - GE Vernova Inc. (NYSE: GEV) today announced it has secured an order to provide its H-Class natural gas-fired combined cycle power generation equipment for Generadora San Felipe Limited (GSF)’s Sant Felipe 470 megawatts (MW) plant power station in Punta Caucedo, Boca Chica, Dominican Republic. This project marks GE Vernova’s first H-Class gas turbine order in the Caribbean. It will contribute to the implementation of Dominican Republic’s climate ambitions and sustainable development goals by supporting the rapid expansion of renewable energy through its dispatchable power profile.

The Caribbean country, one of the fastest growing economies in Latin America, has in recent years managed to switch most of its oil-fired generation capacity to natural gas. Natural gas accounts for nearly half of all energy generated in the Dominican Republic and plays a crucial role in the country’s energy transition, as it supports and complements the expansion of renewable sources. Natural gas-fired combined cycle power plants are the lowest emitting fossil fuel power plants, whether measured based on CO2, SOx, NOx, particulate matter, or mercury.

“Our new plant, powered by GE Vernova’s highly efficient H-Class technology, will support our efforts to deliver less carbon-intensive and more reliable electricity, which is fundamental for the country’s productivity growth, and people’s wellbeing” said Antonio Ramirez, General Manager of Generadora San Felipe. “We trusted the solid reputation of HA technology and turned to GE Vernova, an innovation leader in the path towards decarbonization, based on a longtime collaboration between our two companies.”

The new San Felipe power plant features one multi-shaft generating block, equipped with GE Vernova 7HA.02 gas turbine coupled to an H65 generator, an STF-A650 steam turbine coupled to an H35 generator, a triple pressure with reheat Heat Recovery Steam Generator (HRSG), and a condenser.

“The development of San Felipe power plant is a very ambitious project, and we are proud to support it,” said Dave Ross, President of GE Vernova’s Gas Power in the Americas region. “Once completed, the power plant is expected to be among the most efficient power plant in the Caribbean and can be configured with post-combustion carbon capture systems to significantly reduce carbon dioxide emissions. In addition, our GE Vernova HA gas turbine is highly fuel flexible and able to operate on a variety of fuels, including blends of hydrogen and natural gas to offer multiple pathways to reduce carbon emissions and work towards near-zero operations in the next decade.”

With the highest number of H-Class units achieving commercial operation, 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. The fleet boasts an installed capacity of more than 53 gigawatts (GW) of power, the equivalent capacity needed to power nearly 40 million American homes. 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 680,000 cars off the road for every HA unit deployed.

San Felipe power plant, built by the Spanish engineering procurement construction (EPC) company TSK Electrónica y Electricidad S.A. (Grupo TSK), is expected to start its operation in 2027.  The plant is located next to AES/ENADOM LNG terminal, with a total storage capacity of LNG of 250,000 m3.

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Notes to editors

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

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. Learn more: GE Vernova and LinkedIn.

LONDON (December 11, 2024) - Technip Energies (PARIS:TE), leader of a consortium with GE Vernova and construction partner Balfour Beatty – with the support of technology partner Shell Catalysts & Technologies – received Notice to Proceed by NZT Power Limited to execute a major(1) contract for the Net Zero Teesside Power (NZT Power) project in the United Kingdom.

NZT Power has reached financial close and has issued a Full Notice to Proceed to the Technip Energies-led consortium to start the full Engineering Procurement and Construction (EPC) package for the Onshore Power, Capture and Compression contract. Financial close follows the UK government’s recent announcement of a £21.7 billion pledge for projects to capture and store carbon emissions from energy, industry and hydrogen production.

This landmark project aims to be the world’s first gas-fired power station with carbon capture and storage. Up to 2 million tonnes of CO₂ per year will be captured at the plant and transported and permanently stored by the Northern Endurance Partnership. The plant could produce up to 742 megawatts of flexible, low-carbon power, equivalent to the average annual electricity requirements of more than 1 million UK homes, further supporting the UK's transition to a cleaner energy future.

Supported by the UK government, NZT Power could create and support more than 3,000 construction jobs and then generate 1,000 jobs annually during operations. This initiative is expected to attract private investment and help the UK to meet its climate goals and is aligned with the UK plan to reduce carbon emissions to net zero by 2050.

Technip Energies and GE Vernova, with the support of infrastructure group Balfour Beatty, plan to deliver a highly efficient combined cycle plant and associated carbon capture plant. Technip Energies will lead the integration of a state-of-the-art carbon capture plant using its Canopy by T.EN^TM solution, powered by Shell’s CANSOLV* CO₂ Capture System. The plant will be powered by GE Vernova's advanced 9HA.02 gas turbine, a steam turbine, a generator, a Heat Recovery Steam Generator, an Exhaust Gas Recirculation (EGR) system and benefit from GE Vernova’s maintenance service contract for 16 years.

Balfour Beatty, supported by Shell Catalysts & Technologies, together form the Carbon Capture Alliance (CCA). Alliance members are deeply committed to long-term investment in the UK and already possess a significant local footprint and supply chain.

Arnaud Pieton, CEO of Technip Energies, commented, “We are excited to partner with GE Vernova and Balfour Beatty on the first-of-its kind Net Zero Teesside Power project. This award confirms Technip Energies’ leading position as a provider of state-of-the-art integrated CCUS solutions. I would like to thank Net Zero Teesside Power for their trust. This groundbreaking project represents a significant milestone in our collective efforts to advance carbon capture technology at scale and support the UK’s ambitious climate goals through low carbon power generation from gas combined with renewables. By leveraging our Canopy by T.EN™ solution powered by Shell’s CANSOLV CO2 Capture System, we aim to set a new standard for low-carbon power generation. This project not only underscores our commitment to innovation and sustainability but also highlights the critical role of collaboration in driving the energy transition forward.”

Maví Zingoni, CEO, Power at GE Vernova commented : “We believe CCUS technology can be crucial to help decarbonize the planet, and we welcome the commitment from the UK government to invest in its implementation as well as NZT Power’s trust in our technology. Flagship projects like Net Zero Teesside Power can give the industry foundations to grow. We look forward to powering the station with our advanced H-Class combined cycle technology, as well as proceeding with the first commercial use of our Exhaust Gas Recirculation system and integration technologies, which aim to support carbon abatement by boosting the efficiency and performance of carbon capture.”

Leo Quinn, CEO of Balfour Beatty Group, said: “Net Zero Teesside is a transformational project, underpinning the UK’s transition to cleaner and greener energy consumption and driving regional economic growth in Northeast England. Today’s announcement takes us one step closer to realising this ambitious scheme, which will demonstrate collaboration at its finest and see us unite our unique strengths together with Technip Energies’ world-leading engineering and technology integration skills, Shell's state-of-the-art CANSOLV* CO₂ Capture technology and GE Vernova’s unparalleled power generation knowledge."

Elise H. Nowee, President of Shell Catalysts & Technologies, said: “Being selected as the carbon capture technology provider for Net Zero Teesside Power reflects the proven capabilities of Shell’s CANSOLV* CO₂ technology in delivering substantial, reliable emissions reductions at scale. This project also highlights the strength of our alliance with Technip Energies, which combines Shell Catalysts & Technologies’ expertise in technology licensing with Technip Energies’ excellence in project integration and delivery. Together, we are addressing the growing demand for scalable post-combustion carbon capture solutions. With the potential to capture up to 2 million tonnes of CO₂ annually, Net Zero Teesside Power marks a critical milestone in the UK’s journey toward net zero.”

(1) A “major” award for Technip Energies is a contract award representing above €1 billion of revenue. The award will be included in backlog in Q4 2024.

*CANSOLV is a Shell trademark.

About Technip Energies

Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO₂ management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality. Through collaboration and excellence in execution, our 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last. Technip Energies generated revenues of €6 billion in 2023 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter. For further information: www.ten.com

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 of Advanced Research, Consulting Services, and Financial Services. 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. 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.

In the UK, the company runs the only large-scale grid manufacturing facility, as well as numerous other major manufacturing sites. GE Vernova already helps to generate more than 30% of the UK’s electricity through its equipment. Its nuclear business, GE Hitachi, is one of the finalists in the Great British Nuclear competition.

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.

We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.

Contacts

Technip Energies

Investor Relations                                         Media Relations

Phillip Lindsay                                                   Jason Hyonne

Vice-President Investor Relations                     Press Relations & Social Media Manager

Tel: +44 207 585 5051                                       Tel: +33 1 47 78 22 89

Email: Phillip Lindsay                                         Email: Jason Hyonne

Balfour Beatty

Antonia Walton 

+44 (0)203 810 2345

Antonia.walton@balfourbeatty.com

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

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

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

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

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

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

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

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

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

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

Notes to editors

*Trademark of GE Vernova and/or its affiliates

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

Forward Looking Statements:

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

About GE Vernova:

GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Learn more: GE Vernova and LinkedIn.

For more information, contact:

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

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

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

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

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

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

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

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

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

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

###

Notes to editors

*Trademark of GE Vernova and/or its affiliates

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

Forward Looking Statements:

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

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

About GE Vernova:

GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Learn more: GE Vernova and LinkedIn.

When we look back on what catalyzed the hydrogen economy, we might say it all began in a small, historic steelmaking town in the state of South Australia. Here in Whyalla, at the top of the Spencer Gulf, north of Adelaide, ground will soon be broken for the construction of what is expected to be the world’s largest green hydrogen plant.