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.

GREENVILLE, S.C. (November 18, 2024) – GE Vernova, Inc. (NYSE: GEV) today announced that it has signed a definitive agreement to acquire Woodward, Inc.’s (NASDAQ: WWD) heavy duty gas turbine combustion parts business based in Greenville, S.C. This transaction is an important component of GE Vernova’s strategy of investing in U.S. manufacturing and jobs and strengthening its domestic supply chain.

“We are excited to acquire and integrate this critical capability for our domestic supply chain as we continue to see increasing demand for our heavy-duty gas turbines and upgrades globally,” said Eric Gray, President & CEO, GE Vernova’s Gas Power business. “Welcoming these experts to our Greenville, S.C., team will further enable us to address this growing demand from our customers and meet the electrification needs of our country while serving as an indicator of our commitment to the industry and the community.”

Under the terms of the agreement, and subject to meeting all closing terms and conditions, GE Vernova is expected to acquire all assets related to Woodward, Inc.’s Greenville site, which today is nearly entirely dedicated to supplying parts and services to GE Vernova’s gas turbine manufacturing operations. GE Vernova has had a significant presence in the Greenville area for more than 50 years with current operations including manufacturing and testing gas turbines, providing global engineering support and other activities.

“We are pleased to sign this agreement with GE Vernova,” said Chip Blankenship, Chairman and CEO of Woodward. “This targeted transaction is good for our customer and members and will allow us to focus resources on products that will drive the most value as part of Woodward. I am grateful for our Greenville members’ longtime dedication to Woodward and to serving the customer. They will have opportunities to continue their great work as GE Vernova takes on ownership of the operations.”

While financial terms of the acquisition are not being made public, the transaction is expected to close in early 2025, subject to certain closing conditions. GE Vernova is working closely with the Woodward team to enable a smooth transition for employees in Greenville.

###

About Woodward, Inc.
Woodward (NASDAQ: WWD) is the global leader in the design, manufacture, and service of energy conversion and control solutions for the aerospace and industrial equipment markets. Our purpose is to design and deliver energy control solutions our partners count on to power a clean future. Our innovative fluid, combustion, electrical, propulsion and motion control systems perform in some of the world’s harshest environments. Woodward is a global company headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com.

Throughout its businesses, GE Vernova benefits from the leadership qualities and problem-solving skills of its many veteran employees. As the country celebrates Veterans Day, we shine a spotlight on two bright stars.

Jamie France, Striving for Quality

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

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

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

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

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

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

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

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

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

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

###

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

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

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

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

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

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

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

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

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

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

###

Notes to editors

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

Forward Looking Statements:

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

About GE Vernova:

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

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

On a cold December afternoon in 2015, the lights blinked out, town by town, across western Ukraine. It was two days before Christmas, and by sunset more than 230,000 residents had lost power.

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

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

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

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

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

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

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

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

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

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

###

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

Forward Looking Statements

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

About GE Vernova

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

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

SINGAPORE (October 28, 2024) – GE Vernova Inc. (NYSE: GEV) through its subsidiaries and YTL Power International Berhad’s wholly-owned subsidiary, YTL PowerSeraya Pte Limited today announced the order for a GE Vernova 9HA.01 gas turbine expected to power a new hydrogen-capable 600 megawatts (MW) combined cycle power plant to be built in Pulau Seraya Power Station (PSPS) on Jurong Island, Singapore. The plant is expected to be GE Vernova’s first hydrogen-blended natural gas fueled facility in Singapore.

GE Vernova, POWERCHINA and SEPCO III, are part of a consortium to carry out an engineering, procurement, and construction (EPC) contract for the development of the combined-cycle power plant slated for operation by 2027. The contract, including also  an STF-A650 steam turbine, a W88 generator, a triple pressure with reheat Heat Recovery Steam Generator (HRSG)  was acknowledged in a groundbreaking ceremony officiated by Mr. John Ng, Group CEO of YTL PowerSeraya in the presence of Dr. Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry in conjunction with the annual week-long energy event Singapore International Energy Week (SIEW).

“By 2027, we intend to expand our power generation capabilities in Jurong Island, Singapore with one of the most advanced natural gas power technologies that is hydrogen-compatible, to help meet the nation’s growing electricity needs and ensure energy security,” said Mr John Ng, Group CEO of YTL PowerSeraya. “Our collaboration with GE Vernova on the 600MW hydrogen-capable CCGT project marks a significant milestone in Singapore’s journey toward a more sustainable energy future. This collaboration leverages the strengths of both companies — GE Vernova is a global leader in hydrogen and gas turbine technology, and we are committed to pioneering lower GHG emissions, more efficient energy in Singapore. Together, we are laying the groundwork for a lower-carbon future, and this project is a crucial step in advancing Singapore's energy transition and enhancing its energy resilience.”

Running initially on natural gas, the 9HA.01 gas turbine is capable to burn up to 50 percent by volume of hydrogen blended with natural gas, with a technology pathway to 100% in the future. GE Vernova’s advanced DLN2.6e combustion system, that is standard on current 9HA.01/9HA.02/7HA.03 gas turbine offerings, was developed as part of the US Department of Energy’s High Hydrogen Turbine program and enables combustion of high hydrogen without diluent. In addition, GE Vernova’s H-class combined-cycle power plant is an industry leader in terms of flexibility and is capable to reach full combined-cycle plant load in less than 30 minutes, making it a great complement to intermittent renewable sources.

“GE Vernova sees hydrogen-blended natural gas serving as a catalyst capable to accelerate the world’s efforts towards the path of decarbonizing the power generation sector,” said Ramesh Singaram, President and CEO, Asia of GE Vernova’s Gas Power. “We are pleased that YTL PowerSeraya selected our H-Class technology aiming to deliver highly efficient power generation that can emit less carbon when blended with hydrogen. We look forward to teaming with SEPCOIII and POWERCHINA to bring lower-carbon power generation to Singapore, in alignment with Singapore’s commitment to achieve a net-zero economy by 2050.”

In addition, GE Vernova has established in Singapore its Global Repair Service Solution center (GRSS) which serves as a HA repair global center of excellence (CoE) and is the first HA repair development center outside of the USA--as well as one of GE Vernova’s only four heavy-duty rotor service centers in the world. The GRSS also serves as an F-class bucket repair global Center of Excellence, GE Vernova’s largest F-class turbine blade repair service center in the world, and the largest and currently only GE Vernova aeroderivative repair service center with combustor DVM coating. In 2021, the Advanced Manufacturing & Repair Technology (AMRT) Centre was established within the GRSS to strengthen repair capabilities in the region, particularly for the HA fleet.

###

Notes to editors

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

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

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.

About YTL PowerSeraya

YTL PowerSeraya is in the business of producing, wholesaling, trading and retailing of energy; with a primary focus on electricity. As an established player in Singapore’s energy sector, it supplies the country’s energy needs through its multi-utilities platform. The YTL PowerSeraya Group has three subsidiaries: the retail arm under the Geneco brand provides electricity price plans and energy solutions to homes and businesses, PetroSeraya is the fuel management arm of the Group, and Taser Power which operates the Taser Power Plant.

The YTL PowerSeraya Group is a wholly-owned subsidiary of YTL Power International Berhad. To find out more about YTL PowerSeraya, please visit the website: https://ytlpowerseraya.com.sg/. 

GUANGDONG PROVINCE, CHINA (October 24, 2024) – On the heels of GE Vernova’s announcement of Chinese state-owned power utility Guandong Energy Group Co.,Ltd Huizhou power plant achieving a successful start of operation, GE Vernova Inc (NYSE: GEV) today announced the utility’s Dongguan Ningzhou combined cycle power plant achieved the start of operations in the Guangdong province, China.  The plant, powered by three 9HA.02 gas turbines, is expected to inject up to 2.4 gigawatts (GW) of power in addition to the 1.34 GW of power already delivered into the grid by the GE Vernova HA-powered Huizhou power plant.

“GE Vernova has long been our company of choice when transitioning our power plants from coal to natural gas and we trust that in the future GE Vernova technology will help transition to nearly net-zero carbon emissions,” said a representative from Guangdong Energy Group.

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 Dongguan Ningzhou power plant. Dongguan Ningzhou project is also aligned to local government policy reform in the Greater Bay Area focused on the coal-to-gas energy transition.

GE Vernova HA technology offers among the lowest carbon emissions emissions per amount of fuel in the industry to give power plant operators, like Guandong Energy Group, the ability to reduce fuel consumption and lower carbon emissions.

“Dongguan Ningzhou plant plays a significant role in supporting a lower-carbon and more sustainable power generation in the Guangdong province, north of Hong Kong in the Greater Bay Area,” said Xu Xin, Gas Power Services China ITR Leader, GE Vernova. “We celebrated today the start of the operation of one of the largest gas plants in China. This plant will help boost the megapolis’ transition from coal to gas power generation to lower emissions. This milestone was achieved on time and safely, with the highest standards of quality, also thanks to the superb collaboration with our local partner, Harbin Electric who provided steam turbine, generator and balance-of-plant equipment.”

By using natural gas in a highly efficient way with GE Vernova’s H-class leading technology, the plant has a lower emissions impact with up to 60% less carbon emissions compared to plants of the same size powered by coal. In addition, to further advance decarbonization utilizing gas power, GE Vernova’s H-Class gas turbine portfolio currently has the capability to burn up to 50% by volume of hydrogen when blended with natural gas and with a future technology pathway to 100%,

Built on over 130 years of heritage, expertise and industry leadership, GE Vernova was the first international manufacturer and supplier of gas turbine technology entering China, serves over 110 gas power plants in China, and offers gas power producers and engineering, procurement, and construction companies (EPC) a world-class portfolio of technology and services for gas power plants in China, encompassing the entire lifecycle of their assets.

###

Notes to editors

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

Forward Looking Statements

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

About GE Vernova

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

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