DAMMAN, SAUDI ARABIA; (July 1, 2024) In the presence of His Royal Highness Prince Abdulaziz bin Salman, Minister of Energy, GE Vernova Inc. (NYSE: GEV) today announced the successful rollout of the first H-class gas turbine unit completed at the GE Saudi Advanced Turbines (GESAT) facility in Dammam in an official ceremony held at GESAT. As part of the event, GE Vernova also signed a Memorandum of Understanding (MoU) with the Saudi Export-Import Bank (EXIM) to enable the export of goods and services of GE Vernova from Saudi Arabia. The ceremony was graced by His Royal Highness Prince Abdulaziz bin Salman, Saudi Minister of Energy, Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East and Africa, and other esteemed guests to mark the occasion.

GESAT is a world-class gas turbine and component manufacturing facility and a JV between Dussur and GE Vernova. The first locally completed H-Class unit is set to power the Jafurah Cogeneration Independent Steam and Power Plant (ISPP), which once operational is anticipated to be the most efficient power plant in Saudi Arabia. By 2030, the entire Jafurah gas field is expected to produce up to 630,000 barrels of natural gas liquids and condensates, as well as over 420 million standard cubic feet (MMSCFD) of ethane per day.

The successful rollout of the locally completed gas turbine at GESAT is a significant milestone in the Kingdom’s energy sector and contributes to Saudi Arabia’s economic diversification and local skills development initiatives, in alignment with Saudi Vision 2030 goals. The rollout underscores GE Vernova’s commitment to bringing cutting-edge technology products to support both the Kingdom’s energy needs and its sustainability goals.

Hisham Al Bahkali, President of GE Vernova in Saudi Arabia, said: “We are incredibly proud of GESAT’s accomplishments in driving industrial localization within the Kingdom’s energy sector in support of Saudi Vision 2030. GESAT strengthens ‘Made in Saudi’ capabilities and, since 2018, has exported 200+ accessory modules for power plants generating more than 11 GW. GESAT is now further growing its ongoing success with the rollout of one of the most advanced gas turbines, completed in Saudi Arabia.”

Renowned for their high efficiency and performance, GE Vernova’s H-class gas turbines offer one of the most cost-effective conversions of natural gas to electricity in their class, and support flexible power generation needs across the Middle East.

Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East and Africa, said: “GE Vernova has close to 90 years of legacy in the Kingdom, reflecting our strong commitment to advancing the country’s goals for energy security, economic diversification, and talent development under Saudi Vision 2030. The rollout of the first HA unit completed at GESAT is a testament to our efforts in further deepening power sector capabilities in the Kingdom. The high efficiency and hydrogen readiness of our H-class turbines can support the country’s energy transition, as the turbines can rapidly ramp up or down to support grid stability as more intermittent renewables are integrated into the energy system.”

To further support the Kingdom’s economic diversification and export capabilities, GE Vernova also signed an MoU with Saudi EXIM that aims at enabling the export of goods and services of GE Vernova from Saudi Arabia through lending and insurance support from Saudi EXIM Bank. Since inception, GESAT has been set up to deliver technology products for export from the Kingdom, and this MoU aims to further enable export projects. The signing was done by H.E. Eng. Saad Alkhalb, CEO of Saudi Exim Bank, and Hisham Al Bahkali, President of GE Vernova for Saudi Arabia.

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, GE Vernova's technology helps generate about 25% of the world's electricity and has a meaningful role to play in the energy transition.

ENDS

Notes to editors

Forward Looking Statements:

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

About GE Vernova

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

Dammam, SAUDI ARABIA (June 24, 2024): GE Vernova, Inc. (“GE Vernova”) (NYSE: GEV) today announced it has secured an order for six 7HA.03 gas turbines and two 7E.03 gas turbines from the engineering, procurement, and construction (EPC) company SEPCOIII Electric Power Construction Co., Ltd. (SEPCOIII), for two new power plants: Taiba 1 located in the western region of Saudi Arabia, around 100 km southeast of Madinah city, and Qassim 1 located in the central region around 30 km southeast of Buraydah city. This equipment order was booked in March 2024 and reflected in the company’s first quarter earnings announcement. In addition to the equipment order, GE Vernova today also announced the signature of a 21-year service agreement to support plant operations with Riyadh-headquartered ACWA Power’s wholly owned subsidiary, National Operations & Maintenance Company (NOMAC).

The projects are aligned to Saudi Arabia’s goals to generate about half its electricity from renewable energy sources and half from gas by 2030, paving the way to net-zero greenhouse gas (GHG) emissions by 2060.

Taiba 1 and Qassim 1 plants, to be powered by GE Vernova’s most advanced gas turbines, are expected to deliver up to 3.8 gigawatts (GW) of electricity to the grid in total, a capacity equivalent to what would be needed to power the energy needs of approximately 1.2 million homes in Saudi Arabia. Expected to be completed in 2027, they are anticipated to be among the most efficient power plants in the Kingdom and can be configured with post-combustion carbon capture systems to significantly reduce carbon dioxide emissions. In addition, 7HA.03 gas turbines currently have the capability to burn up to 50% by volume of hydrogen when blended with natural gas.

“The development of Taiba 1 and Qassim 1 plants is a very ambitious project, and we are proud to support it,” said a spokesperson of SEPCOIII. “We are also excited to work with GE Vernova to evaluate how carbon capture solutions could potentially be integrated with these gas power plants to help lower emissions. We expect to see increased longer term demand for gas plants integrated with carbon capture technologies, which is key to reducing emissions from fossil fuels and helping fight climate change.”

GE Vernova has contributed to the development 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. Today, the company employs approximately 580 people in Saudi Arabia. GE Vernova’s investments in the Kingdom include the GE Manufacturing and Technology Center (GEMTEC) campus in Dammam, which encompasses a Service and Repairs Center for gas turbines, the GE MENA Decarbonization Center of Excellence, a Monitoring & Diagnostics Center for the remote monitoring of power generation assets, as well as GE Saudi Advanced Turbines (GESAT), a joint investment with Dussur for gas turbines and components in Saudi Arabia. Four of the H-class gas turbines equipping the plants are planned to be rolled out from GESAT, making them the first 7HA.03 units to be completed locally in the Kingdom.

“This project, which marks our largest single order for 7HA.03 gas turbines to date in the region, is expected to open up a new chapter for gas power generation in Saudi Arabia,” said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. “As an innovation leader in the path towards decarbonization, we are proud of developing our first 7HA.03 project at GESAT and boosting the localization of the gas turbines industry in Saudi Arabia, in alignment with the Kingdom’s goals for more diversified and sustainable economic growth. We are delighted to team with SEPCOIII and ACWA Power’s NOMAC to deploy our most advanced power generation technologies, services, and proven expertise in natural gas combined cycle plant engineering, operability, and plant integration, to support the transition to a lower-carbon energy future.”

Under the 21-year service contract signed with NOMAC, GE Vernova plans to deliver maintenance and repairs, supply of parts. In addition, GE Vernova’s Monitoring & Diagnostics Center is expected to oversee the real-time operating conditions and provide remote diagnostics tools using digital analytics technology.

“We have developed a productive and successful role-model relationship with GE Vernova that will enable our collective organizations to deliver meaningful innovation and energy contributions to the Kingdom of Saudi Arabia,” said Marco Arcelli, ACWA Power CEO. “With today’s signing of this contract, we mark not only a milestone in our cooperation but pave the way to future collaborations for the safer, more reliable, and more sustainable production of electricity in the Kingdom.”

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, GE Vernova's technology base helps generate about 25% of the world's electricity and has a meaningful role to play in the energy transition in Saudi Arabia and around the globe.

###

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.

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.

Project will add same technology already in existence

ANADARKO, Okla. (May 16, 2024) – Western Farmers Electric Cooperative’s (WFEC) and GE Vernova Inc. (NYSE: GEV) today announced the order for two new GE Vernova’s aeroderivative LM6000VELOX* package solutions, each including an LM6000* gas turbine and a generator, to replace aging steam turbines at its Anadarko Plant, Oklahoma. These new units are expected to expand the power plant, currently powered by five LM6000 PC gas turbines (two installed and commissioned in 1999, three units installed ten years later, in 2009). When the expansion will be completed, the Anadarko Plant is expected to deliver up to 350 megawatts (MW) with a total of seven LM6000 gas turbines.

“At WFEC, we continually evaluate capacity needs, while focusing on both the present and future power requirements of our members, and we are committed to maintain a reliable supply of electricity well into the future,” said Justin Soderberg, Western Farmers Electric Cooperative. “We selected GE Vernova’s LM6000VELOX units due to their fast start and quick ramp up/down capabilities. Rapid renewable energy growth presents system operators and energy providers with the increasingly difficult task of continuously ensuring stability of the grid and a reliable power supply, as renewable generation assets like wind turbines and solar farms are slightly less predictable by their very nature. Conversely, the aeroderivative gas turbines, powered by natural gas can help stabilize the grid and reduce the risk of electricity supply shortages.”

These aeroderivative units, derived from jet-engine technology powering the world’s airlines jets and well-known in the power generation industry for their quick start time in as little as 5 minutes to full power, will be a great complement to WFEC’s robust portfolio of almost 1,000 megawatts (MW) of renewable projects already in service or scheduled to be in service by the end of the decade.

WFEC has been working with Sargent & Lundy (S&L) as the owner’s engineer for the expansion of the plant. S&L is an engineering firm based in Chicago, Ill. S&L has worked hand in hand with WFEC staff on selecting the appropriate technology for these new units and developing a turbine specification. Fagen, Inc. has been selected as the EPC Contractor. The works are expected to start in late 2024 and be completed in late 2026.

*Trademark of GE Vernova and/or of its affiliates

###

Notes to editors

*The order for the gas turbine power generation equipment for the Anadarko project was booked in Q1 2024

Western Farmers Electric Cooperative (WFEC) is a generation and transmission cooperative, headquartered in Anadarko, Okla. Now in its 83^rd year of operation, WFEC serves the electric needs of 21-member distribution cooperatives, across much of Oklahoma, the eastern parts of New Mexico, and into some areas of Kansas and Texas. WFEC also serves Altus Air Force Base. WFEC has a diverse generation portfolio of coal, natural gas, hydroelectric power, wind and solar.

Sargent & Lundy is one of the world’s longest-standing full-service architect engineering firms. Founded in 1891, the firm is a global leader in power, energy, and decarbonization with expertise in grid modernization, renewable energy, energy storage, nuclear power, fossil power, carbon capture, and hydrogen. Sargent & Lundy delivers comprehensive project services – from consulting, design, and implementation to construction management, commissioning, and operations/maintenance – with an emphasis on quality and safety. The firm serves public and private clients in the power, energy, gas distribution, industrial and government sectors.

GE Vernova (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 80,000 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.

Fagen, Inc. is a full-service EPC contractor headquartered in Granite Falls, Minn. Utilizing a database of over 10,000 direct-hire employees, Fagen, Inc. provides both full EPC wraps and general contractor services to its client base. Fagen self-performs civil, structural, siding, insulation, millwright, piping, instrumentation, electrical, and commissioning. Striving to be the construction company most admired by their customers for their people, partnerships, performance and finished product, Fagen, Inc. is ultimately building a better world for tomorrow.

ATLANTA, Ga (May 6, 2024) – GE Vernova Inc. (NYSE: GEV) today announced it has secured an order for 16 of its aeroderivative LM6000VELOX* package solutions, each including an LM6000* gas turbine and a generator, to be installed at Tennessee Valley Authority (TVA)’s Kingston Energy Complex on the Clinch River arm of Watts Bar Reservoir near Kingston, Tennessee. The new units are expected to deliver a flexible supply of up to 850 megawatts of electricity to help enhance the reliability of the energy grid and help ensure TVA’s energy consumers have uninterrupted access to affordable and reliable power.

“The Kingston Energy Complex highlights the way diverse generation works together to ensure TVA can provide more reliable, resilient and affordable power,” said TVA Chief Operating Officer Don Moul. “These aeroderivative units will help us meet demand during peak energy usage and supplement solar generation on days when sunshine is limited.”

GE Vernova’s LM6000VELOX packages, expected to start operation in 2028, feature dual-fuel capability to flexibly operate on natural gas or on liquid fuels, if needed. In addition, the DLE combustor configuration is capable to meeting stringent environmental regulations, meeting emissions limits that comply with the regional air district requirements and avoiding water consumption for NOx emissions abatement.

Already an industry leader in carbon reductions, TVA has reduced emissions by 57 percent from 2005 levels. Nearly 60% of TVA’s energy comes from carbon-free sources including nuclear, hydropower, storage, and solar.

“This milestone project marks GE Vernova’s commitment to supporting TVA’s efforts to ensure affordability and reliability of electricity while focusing on more efficient and sustainable energy generation," said Dave Ross, President of GE Vernova’s Gas Power in the Americas region. “TVA is actively integrating more renewables into the system, investing in new technologies, and retiring older, less efficient generation and they are doing this in a holistic way that helps to ensure affordability, reliability, and resiliency for their 10 million customers.”

The LM6000 gas turbines are well-known in the power generation industry for their quick start time in as little as 5 minutes to full power, high cyclic life helping to complement intermittent power from renewable sources, and operational flexibility which can help stabilize the grid and reduce the risk of electricity supply shortages.

These units are derived from jet-engine technology powering the world’s airlines jets. With over 40 million operating hours and an installed base of nearly 1,300 across approximately 60 countries, these turbines have more operating experience than any other aeroderivative gas turbine greater than 40 MW. The LM6000 offers greater than 99 percent start and operational reliability and over 98 percent availability.

GE Vernova’s LM6000VELOX package, announced in October 2023, features enhancements aiming to reduce site construction time for power generation utilities, EPCs, and other industry stakeholders. The solution features a quick package installation in a simple cycle configuration, with an expected reduced installation and commissioning schedule and consequent lower costs.

*Trademark of GE Vernova and/or its affiliates

###

Notes to editors

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 80,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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

Dubai, UAE (May 6, 2024) – GE Vernova’s Gas Power business (NYSE: GEV) held the annual regional ‘Power Supplier Partnership Summit’ in Dubai, UAE, convening over 200 representatives from up to 135 organizations in person and virtually from across Europe, Middle East, Africa, and beyond.

The event featured insightful presentations and case studies, interactive discussions, and one-on-one meetings among senior representatives from GE Vernova and participating organizations. The themes covered revolved around safety, quality, power sector trends, challenges and opportunities, ideas on how to bridge gaps in the supply chain as various actors seek to decarbonize the region’s energy system while meeting growing demand, and more.

GE Vernova recognized select organizations with ‘Supplier Partnership Awards’ at the Summit for excellence in the areas of safety, quality, on-time delivery, competitiveness, and overall partnership. Awards were given to suppliers from various countries, including Algeria, Iraq, Libya and the UAE.

Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East & Africa (EMEA), said, “As organizations and governments look to accelerate the energy sector’s transition to net zero, we recognize that no one company or actor can deliver the world’s growing needs for more reliable, affordable, and sustainable power alone. Strengthening our vast network of diverse suppliers is a critical part of our strategy to maintain operational agility and help deliver the high quality solutions that our customers are looking for reliably and on time. By organizing events such as this annual summit, we contribute towards nurturing the regional supply chain and driving forward national industrialization and economic diversification goals to create greater shared value in the power sector.”

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, GE Vernova's technology base helps generate about 30% of the world's electricity and has a meaningful role to play in the energy transition.

GE Vernova has a long history in the Middle East, with a presence here that spans back up to 90 years. The company has provided power generation, transmission, distribution, and digital solutions to support the development of the energy sector across the region. Its investments in the GCC include the GE Manufacturing and Technology Center campus in Saudi Arabia, the GE Kuwait Technology Center, and the Jebel Ali Service Center in the United Arab Emirates.

###

NOTES TO EDITORS

Follow GE Vernova in Middle East & Africa on LinkedIn.

About GE Vernova
GE Vernova (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerators. 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 80,000 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 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.

Washington, D.C., United States of America; April 18, 2024: GE Vernova (NYSE: GEV) has announced multiple strategic initiatives with the Republic of Iraq aiming to boost generation and enhance the availability of power supply across the country. The announcements were made on the sidelines of the Iraqi Prime Minister H.E. Mohammed Shia’a Al-Sudani’s visit to Washington, D.C. and meeting with President Joe Biden.

The initiatives were signed, in the presence of H.E. Al-Sudani on April 17th in Washington D.C, by H.E. Hayan Abdul Ghani Al-Swad, the Iraqi Deputy Prime Minister for Energy Affairs and Minister of Oil; H.E. Dr. Muhammad Ali Tamim, the Iraqi Deputy Prime Minister and Minister of Planning; and Roger Martella, Chief Sustainability Officer and Head of Government Affairs at GE Vernova. The signings were attended by Ambassador Alina L. Romanowski, the U.S. Ambassador to the Republic of Iraq and Mr. Steve Lutes, the President of the US-Iraqi Business Council, and Vice President, Middle East Affairs at U.S. Chamber of Commerce.

The collaborations reflect the joint vision of the Government of the Republic of Iraq and GE Vernova to work together in order to strengthen and modernize power infrastructure, enable the transition to a lower carbon energy future, and promote economic development. The initiatives announced align with the Principles of Cooperation signed between Iraq’s Ministry of Electricity (MoE) and GE Vernova in 2023 to explore opportunities to increase power capacity and establish new power plants. They include:

• A letter of intent signed with the MoE to explore injecting 3 additional gigawatts (GW) of energy into the grid generated by highly efficient combined cycle power plants. Additionally, the MoE and GE Vernova reiterated their commitment to move forward with the conversion of two sites, Samawa and Nasiriya, from simple to combined cycle, as well as to expand capacity at the Al Mansouria gas power plant.
• Five-year services and upgrade agreements with the MoE to enhance the availability and efficiency of over 70 turbines and generators at 18 power plants, with a total capacity of up to 7.5 GW.
• A memorandum of understanding (MoU) signed with Iraq’s Ministry of Oil to explore the accelerated use of flared gas to boost power generation in select oil fields. Iraq is ranked among the top gas flaring countries globally, and this MoU paves the way to future joint projects aiming to significantly reduce pollution and health hazards associated with flaring, while generating additional power.

“These initiatives mark a milestone in our continued efforts to strengthen national power infrastructure,” said H.E. Zeyad Ali Fadhil, the Iraqi Minister of Electricity. “As electricity demand in Iraq grows, we continue to work with leading companies like GE Vernova, to ensure that the power needs of residents and industrial users are met in a timely manner through advanced gas power generation technologies, on-time servicing and maintenance of energy infrastructure, and an accelerated use of flared gas, in collaboration with the Ministry of Oil. As an example, in preparation for the peak summer demand season in 2024, the MoE and GE Vernova’s teams completed the MXL2 upgrade on two of GE Vernova’s 13E2 gas turbines at Al Mansouria power plant, with a total capacity of up to 266 megawatts. Additionally, our teams continue to work on maintenance and upgrade projects covering up to 3.8 GW of capacity.”

As part of the new initiatives, GE Vernova also plans to set up a Monitoring and Diagnostics (M&D) Centre that will use the company’s electrification software capabilities for continuous monitoring of core power assets across 18 sites powered by GE Vernova’s 9E gas turbines. The Center is expected to be operated by the MoE’s team, and is projected to help mitigate operational risks, reduce unplanned outage costs, and enable Iraqi talent development through knowledge transfer and the specialized training of local engineers.

“In 2021, GE Vernova proposed a 10-point strategy to help accelerate Iraq’s energy transition, including a series of measures that were part of today’s announcements,” said Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East, and Africa. “These announcements reflect our committed to keep driving progress for the Iraqi people. We aim to continue to work closely with the Iraqi government and other stakeholders to help deliver more affordable, reliable, and lower carbon power that supports the growing needs of citizens and faster, more sustainable economic development, to the benefit of present and future generations.”

GE Vernova has a strong legacy of contributing to the development of Iraq’s energy sector. The company has added up to 19 GW of capacity in the country in just over a decade, completed up to 30 substations over the past 10 years, as well as delivered phase one of the interconnection with the Hashemite Kingdom of Jordan’s grid, which was inaugurated by the Iraqi government in March 2024. Furthermore, GE Vernova has supported the government of Iraq to secure over US$ 3 billion in funding for energy sector projects since 2015. The company employs over 200 people in the country, more than 95 percent of them Iraqis.

###

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.

Atlanta, Georgia: April 11, 2024 – GE Vernova’s Gas Power business (NYSE: GEV) today announced it has secured an order for its 7HA.03 combined-cycle plant equipment from Louisville Gas and Electric Company and Kentucky Utilities Company (LG&E and KU), regulated utilities that are part of the PPL family of companies (NYSE: PPL), to power a new natural gas combined-cycle generating unit (NGCC) at the utilities’ existing Mill Creek Generating Station in Louisville, Kentucky.

Last year, the Kentucky Public Service Commission approved LG&E and KU’s plans to retire two aging coal generation units and build a new NGCC at its Mill Creek Generating Station. The commission also approved solar energy projects, battery storage, and a suite of energy efficiency programs.

“We’re proud to serve the communities in which our employees live and work at the lowest reasonable cost, and the addition of a new NGCC at our Mill Creek Generating Station – which has provided ‘round the clock’ energy to our customers for decades – is an important part of how we’re continuing to plan for Kentucky’s energy future in a responsible, affordable and reliable way”, said Lonnie Bellar, senior vice president, Engineering and Construction. “We’re also proud to partner with GE Vernova on bringing to life what will be the most advanced NGCC generating unit in our fleet”.

MC5 is expected to have an output of approximately 645-megawatts (MW) and will feature the most advanced GE Vernova 7HA.03 gas turbine, which will be fueled initially by natural gas, with the ability to utilize up to 50 percent hydrogen (by volume) as hydrogen becomes more available in the future.

GE Vernova will also provide a STF-D650 steam turbine along with a W86 generator, a Vogt Heat Recovery Steam Generator (HRSG) and its integrated Mark* VIe control system for gas turbine performance management. NGCCs, like MC5, have the lowest carbon dioxide (CO2) emissions and other emissions of all fossil-fuel powered generation.

“GE Vernova’s advanced HA gas turbines produce less than one-third of the carbon emissions of a similar coal-fired generating station, so constructing a NGCC works in harmony with LG&E and KU’s future carbon reduction plans by incorporating the potential of hydrogen-based fuels and carbon-capture technologies”, said Dave Ross, President of GE Vernova’s Gas Power in the Americas region. “We are honored to support LG&E and KU in this project, not only through bringing our advanced HA power generation equipment, but also by working to ensure its best operation through the deployment of controls software and remote monitoring abilities well into the future”.

The performance of the new 7HA.03 gas turbine includes a highly flexible ramp rate of 75MW/min as validated at GE Vernova’s Test Stand 7 in Greenville, South Carolina.

GE Vernova will also provide services to help increase operational efficiency, expected to generate key savings in maintenance costs due to less unplanned maintenance for the combustion turbines. Data collected from sensors throughout the facility will be monitored and analyzed 24/7 at GE Vernova’s Monitoring & Diagnostics (M&D) Center in Atlanta.

The plant will be built by TIC—The Industrial Company, a subsidiary of Kiewit, one of North America’s largest engineering and construction companies.

###

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 LG&E and KU
Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) family of companies, are regulated utilities that serve more than 1.3 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 335,000 natural gas and 436,000 electric customers in Louisville and 16 surrounding counties. KU serves 545,000 customers in 77 Kentucky counties and 28,000 in five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com.

Seoul, South Korea: April 8, 2024 - GE Vernova’s Gas Power business (NYSE: GEV) today announced it has secured an order from Korea Western Power Co.,Ltd (KOWEPO),a subsidiary of Korea Electric Power Corporation (KEPCO), to provide a GE Vernova 7HA.02 gas turbine and a H65 generator for KOWEPO’s power station in Gongju-si, Chungcheongnam-do Republic of Korea. For the project GE Vernova is part of an international consortium, including the Korean engineering, procurement and construction (EPC) company Daewoo E&C.

KOWEPO’s aged coal-fired plant is expected to be replaced with Gongju-si natural gas power generation, expected to reach an output of 500 Megawatts, while enabling future fuel mix combustion of up to 30 percent by volume of hydrogen, subject to the development of a hydrogen manufacturing industry of an appropriate size and scale.

“This power plant will add new capacity, expected to increase power supply security in South Korea while continuing to phase out coal power generation. In addition, it will help expand a more reliable deployment of renewable energy resources in our country as we’ll be more capable to dispatch power quickly in response to grid fluctuations,” said a representative from KOWEPO. “The new power plant will be capable to operate on up to 30% hydrogen by volume, in line with the national goal to deploy renewables and green hydrogen at large scale and achieve carbon neutrality by 2050.”

The new power plant targets to begin operation in 2027. Switching from a coal plant to its gas equivalent can alone reduce carbon emissions by as much 60 percent, and lower emissions levels for other pollutants such as mercury, NOx, SOx and particulate matter, when using one of the most advanced of GE Vernova’s HA gas turbines.

“In a country with an increasing power demand due to planned coal-fired power plant retirements, we are proud to support a lower-carbon future in Korea,” said Ramesh Singaram, President and CEO GE Vernova’s Gas Power in Asia. “We are committed to providing KOWEPO with our advanced gas turbine technology to accelerate coal phase-out and support an increase in the share of renewables as we work towards lower-carbon gas-based power generation with hydrogen. Once in operation, Gongju-si power plant is expected to be among the most efficient and flexible power plants in the country.”

GE Vernova is a major player in power generation in South Korea. GE Vernova ’s gas turbines (simple and combined cycle) in the country have the capacity to generate more than 14 Gigawatts of electricity with an installed base of over 78 units. The company has been present in South Korea since 1976, working closely with local companies to support the country’s growth in the energy sector. In 2015, GE Vernova undertook a large-scale manufacturing plant investment in Changwon, South Korea, by acquiring Doosan’s HRSG business.

###

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.

• Net-Zero Teesside (NZT) Power is expected to be one of the first gas-fired power stations of its kind - fully integrated with carbon capture technology.
• Consortium and technology selection marks an important next step towards the proposed development of bp’s NZT Power project in the UK, aiming to capture up to 2 million tonnes of CO2 per year.
• Project is expected to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, and to progress the deployment of carbon capture technology in line with the UK Government’s net-zero programme.

Technip Energies (PARIS: TE), leader of a consortium with GE Vernova, and construction partner, Balfour Beatty, received a Letter of Intent from bp, on behalf of NZT Power Limited for the execution phase of the Net Zero Teesside Power (NZT Power) in the United Kingdom.

This landmark project is poised to become one of the world’s first commercial scale gas-fired power stations with carbon capture, expected to capture up to 2 million tonnes of CO2 per year. The project is set to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, further supporting the nation's transition to a cleaner energy future.

The NZT Power project is also a key component of the Carbon Capture, Usage and Storage (CCUS) East Coast Cluster and has been shortlisted for government funding support as part of the UK's net-zero programme. This selection follows the Development Consent Order recently having been granted by the Secretary of State for the Department for Energy Security and Net Zero.

The Technip Energies and GE Vernova consortium, supported by leading infrastructure group Balfour Beatty, will play an important role constructing a highly efficient combined cycle plant. It will be powered by an advanced GE Vernova 9HA.02 gas turbine, a steam turbine, a generator and a Heat Recovery Steam Generator (HRSG), which will integrate with a state-of-the-art carbon capture plant using Technip Energies’ Canopy by T.ENTM solution powered by the Shell CANSOLV® CO2 capture technology.

Technip Energies, GE Vernova, and Balfour Beatty, supported by Shell in the UK are forming the Carbon Capture Alliance (CCA). The alliance members are deeply committed to long-term investment in the UK, with members already possessing a significant UK footprint and a mature UK supply chain.

In March 2023, the UK government announced up to £20 billion to support the initial deployment of CCUS, focused on creating four clusters by 2030, including the East Coast cluster which includes Teesside. Government analysis shows that up to 10 gigawatts of power CCUS could be needed in order to decarbonise the UK power sector by 2035 (10GW is around 10% of the total UK electricity system today).

Arnaud Pieton, CEO of Technip Energies, commented, “Our selection for the Net Zero Teesside Power project is a testament to Technip Energies growing leadership position as an integrated state-of-the-art CCUS solutions provider. By capturing up to 2 million tonnes of CO2 at a large power plant, we collectively rise to the challenge of scale by providing sustainable and available energy at a large scale. With our partners GE Vernova and Balfour Beatty, we are honoured to contribute to this flagship project that supports bp and the UK in their goal of developing one of the first decarbonised industrial clusters in the world.”

Maví Zingoni, CEO, Power at GE Vernova, commented: “The development of Net Zero Teesside Power, one of the world’s first commercial scale gas-fired power stations with carbon capture, marks a huge step towards supporting the UK government’s commitment to fully decarbonise its power system by 2035. GE Vernova will help bring proven expertise in natural gas combined cycle plant engineering, operability, and full-scale integration to support carbon abatement for this project. We believe post-combustion carbon capture can play a crucial role in reducing emissions and ensuring dispatchable power in the future.”

Leo Quinn, CEO of Balfour Beatty Group, said: “Today’s announcement takes us a step closer to realising one of the world’s first commercial scale gas-fired power stations with carbon capture . It’s a significant milestone in delivering the critical infrastructure needed to transition the UK to Net Zero. Balfour Beatty’s market leading capabilities, underpinned by our unrivalled experience and proven track record in delivering complex infrastructure projects, means we are perfectly positioned to support the delivery of this critical project alongside Technip Energies and GE Vernova – proving on the world-stage that the UK is primed and ready to lead the way in decarbonising our industrial footprint.”

###

About Technip Energies 
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). 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 80,000 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.

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.

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.

Important Information for Investors and Securityholders

Forward-Looking Statement

This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2022 Annual Financial report filed on March 10, 2023, with the Dutch Authority for the Financial Markets (AFM) and the French Autorité des Marchés Financiers which include a discussion of factors that could affect the Company's future performance and the markets in which the Company operates. Please also see Section 1.3 (Principal Risks and Uncertainties) of the Company's 2023 Half-Year Report which was filed with the AFM and the AMF on July 27, 2023.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.