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Grid Solutions

GE Vernova and Seatrium secure a major contract from TenneT to connect North Sea wind power to Germany’s grid

7 min read
  • Contract secured for BalWin5, TenneT’s new 2.2-gigawatt offshore grid connection, expected to power approximately 2.75 million households and support Germany’s long-term energy security and decarbonization goals

  • GE Vernova’s Electrification Systems business to deliver the full HVDC technology and the onshore and offshore converter stations

  • Seatrium to design, build, transport, and install the offshore converter platform

Berlin, Germany; Singapore (December 11, 2025) – GE Vernova and Seatrium today announced that their consortium has been awarded a contract by TenneT to deliver a major part of BalWin5, a new 2.2-gigawatt (GW) offshore high-voltage direct current (HVDC) grid connection designed to transmit electricity from offshore wind farms in the German North Sea to the onshore transmission network in Germany. Once operational, BalWin5 is expected to provide enough renewable electricity to power approximately 2.75 million households. BalWin5 is one of TenneT’s 2 GW projects. This new generation of powerful offshore grid connection systems is set to speed up the integration of large-scale offshore wind energy into the German grid, thereby supporting the country's energy transition and climate goals.

This contract is the fourth project awarded to the GE Vernova-Seatrium consortium under the five-year Framework Cooperation Agreement with TenneT announced in March 2023. It is also the consortium’s first win concerning TenneT’s German 2 GW projects. BalWin5 marks an important step in strengthening Germany’s electricity infrastructure and supporting the country’s long-term goals for energy security and decarbonization.

GE Vernova and Seatrium consortium’s scope

As part of the contract, GE Vernova’s Electrification Systems business is expected to deliver the onshore and offshore converter stations and the complete HVDC technology, including the advanced control and protection systems that help maintain stable and secure operation across the transmission network. HVDC links are designed to support the high-capacity, long-distance transmission of offshore wind power, helping to reduce transmission losses and improve overall system performance.

Seatrium is responsible for the design and construction of the offshore converter platform and will manage transportation and installation in the German North Sea. Works are scheduled to commence on 1 January 2026, with majority of platform fabrication taking place at Seatrium’s yards in Singapore and Batam.

“BalWin5 reflects the scale and ambition of Germany’s energy transition, and we are proud to support TenneT in this important program. Our Electrification Systems business brings decades of innovation in HVDC technology, helping deliver solutions that are designed for efficiency, affordability, and long-term energy security. Working alongside Seatrium, we are confident in our ability to deliver a high-quality system that strengthens the offshore grid and supports Europe’s move toward a more resilient and sustainable electricity infrastructure.” says, Philippe Piron, CEO, GE Vernova’s Electrification Systems business.

“We are proud to extend our partnership with TenneT and GE Vernova to deliver this transformative offshore wind solution as we collectively push boundaries to accelerate energy transition goals and innovation. Leveraging the proven design and experience gained from the first three platforms we are building for TenneT, we are confident in delivering an equally high-quality product safer and more efficiently through our series-build strategy, underpinned by the collective power harnessed from our One Seatrium Global Delivery Model.” says Samuel Wong, Executive Vice President of Seatrium Energy (Fixed Platforms).

About BalWin5, the 2.2-gigawatt offshore grid connection

TenneT’s BalWin projects are a series of large offshore grid connections designed to transport electricity from wind farms in the German North Sea to the onshore grid. Each project in the BalWin program is built to move significant volumes of renewable energy into Germany’s electricity system as part of the country’s wider offshore wind expansion.

BalWin5 is one of TenneT’s major new projects to bring more electricity from North Sea wind farms into Germany’s power grid. The connection is being designed to carry up to 2.2 gigawatts of wind power to homes and businesses, allowing Germany to make better use of the large offshore wind farms operating in the North Sea. The additional 200 megawatts above the standard 2-GW design come from building the system with enough technical headroom to transport more power when wind conditions allow. This means more renewable electricity can be delivered without needing extra infrastructure or added cost.

The system will include an offshore converter station in the North Sea, an onshore converter station at Bremen-Werderland, and a combined 325-kilometer sea and land cable system. Commissioning is planned for 2032.

Today’s offshore grid connections are typically much smaller, at around 900 megawatts. Increasing the transmission capacity to 2.2 gigawatts means that the connection can carry more power, making use of the infrastructure more efficiently and reducing the overall cost of bringing offshore wind to shore. By transporting more electricity per system, the cost per megawatt falls and the offshore network becomes more efficient.

TenneT is applying this new standard across several projects through long-term framework agreements, which give suppliers clearer visibility and allow the systems to be delivered faster, more efficiently, and at a lower cost.

 

-ENDS-

end

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across approximately 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 Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution across the power grid, and supporting a decarbonized and secured energy transition.

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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Offshore HVDC Converter Station
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Michael Lapides

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Investor Relations

GE Vernova 2025 Investor Update Recap

Scott Strazik, Pablo Koziner, and Kenneth Parks.

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Yesterday, GE Vernova hosted its 2025 Investor Update event in New York City. We see a stronger financial trajectory ahead with substantially higher returns expected beyond 2028. We raised our multi-year financial outlook, and announced that our Board of Directors approved the doubling of our dividend and increased our share buyback authorization. We also reaffirmed our 2025 revenue and adjusted EBITDA margin* guidance, raised our 2025 free cash flow* guidance and presented our 2026 financial guidance.

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Onshore Wind

GE Vernova enters agreement with PPC Renewables in Romania

5 min read
  • Onshore wind farm will use 14 GE Vernova 6.1 MW–158m workhorse turbines

  • Second contract with PPC Renewables will give GE Vernova an installed base of more than 800 MW of wind power in Romania

BUCHAREST, Romania (December 11, 2025) 2025 - GE Vernova Inc. (NYSE: GEV) announced today that it has signed an agreement with Public Power Corporation Renewables (PPC R) to supply, install and commission 14 of its 6.1 MW–158m* turbines for a wind farm in Vaslui county, Romania. The new agreement builds on an earlier deal to supply 23 of GE Vernova's 6.1 MW-158m turbines that was announced in September 2024. It also follows an announcement last week that the company will provide Greenvolt Power 42 of its 6.1 MW–158m onshore wind turbines to power the Gurbanesti wind farm in Călărași county in Romania.

The latest deal, which was booked in the second quarter of 2025, expands the presence of GE Vernova in Romania by adding 85 MW to the company’s existing onshore wind installed base in the country of more than 800 MW.

When completed, the project is expected to provide enough energy to power the equivalent of approximately 38,000 households.

Gilan Sabatier, Chief Commercial Officer for GE Vernova’s Onshore Wind business in International Markets, said, “We are pleased to deepen our collaboration with PPC Renewables in Romania, strengthening our commitment to advancing sustainable energy solutions. This agreement not only reinforces GE Vernova's presence in the region but also exemplifies our dedication to delivering workhorse wind turbines that will help power thousands of homes and contribute to Romania's renewable energy goals."

GE Vernova has a total installed base of approximately 57,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to its customers' success for more than two decades, its product portfolio offers the next-generation high-powered turbines at scale that drives decarbonization through high-quality, affordable, and sustainable renewable energy.

###

*Note to Editors: GE’s 6.1 MW turbine with a 158-meter rotor is what we refer to as the 6.1 MW-158m.

end

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across approximately 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 Wind segment is focused on delivering a suite of wind products and services to help accelerate a new era of energy by harnessing the power of wind. Technologies provided to customers include the next generation high efficiency 3-megawatt onshore wind turbine and the Haliade-X offshore wind turbine platform, as well as maintenance solutions and life extension optionality.

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.

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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GE Vernova's 6 MW onshore workhorse wind turbine
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Investor Relations

GE Vernova declares increased first quarter 2026 dividend and increases buyback authorization

4 min read

CAMBRIDGE, Mass. (December 9, 2025) – GE Vernova (NYSE: GEV) today announced that its Board of Directors has declared a $0.50 per share quarterly dividend—doubling from a $0.25 quarterly dividend. The quarterly dividend will be payable on February 2, 2026, to shareholders of record as of January 5, 2026.  The Board of Directors has also approved a share repurchase authorization increase to $10 billion, from the prior authorization of $6 billion. GE Vernova has spent $3.3 billion of the authorization as of December 3, 2025.

Future dividend declarations will be made at the discretion of the Board of Directors and will be based on GE Vernova’s earnings, financial condition, cash requirements, prospects, and other factors. The share repurchase authorization has no expiration date and may be suspended or discontinued at any time.

Additional Information
GE Vernova’s website at www.gevernova.com/investors contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit this website from time to time, as information is updated, and new information is posted. Investors are also encouraged to visit GE Vernova’s LinkedIn and other social media accounts, which are platforms on which the Company posts information from time to time.

Additional Financial Information
Additional financial information can be found on the Company’s website at www.gevernova.com/investors under Reports and Filings.

Forward-Looking Statements
This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain, such as statements about possible future dividend declarations and payments and share repurchases. Forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from current expectations. These risks, uncertainties, and factors include those discussed in our most recent Annual Report on Form 10-K and in our subsequently filed Quarterly Reports on Form 10-Q, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections included therein, as may be updated from time to time in our filings with the U.S. Securities and Exchange Commission and as posted on our website at www.gevernova.com/investors/fls. GE Vernova does not undertake any obligation to update or revise its forward-looking statements except as required by law or regulation.

end

About GE Vernova

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

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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GE Vernova's 2025 Investor Update
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Investor Relations

GE Vernova raises multi-year financial outlook, doubles dividend and increases buyback authorization

13 min read
  • A stronger financial trajectory with substantially higher returns expected beyond 2028

  • Now anticipates $52B of revenue and 20% adjusted EBITDA margin* by 2028, up from $45B of revenue and 14% adjusted EBITDA margin*

  • 18 GW of gas turbine contracts signed quarter-to-date; expects to reach 80 GW of combined slot reservation agreements and backlog1 by year-end

  • Expects to grow total backlog from $135B to approximately $200B by year-end 2028, inclusive of doubling the size of Electrification backlog from $30B to $60B

  • Expects to generate at least $22B of cumulative free cash flow* from 2025 to 2028, up from at least $14B, after investing approximately $10B in cumulative capex and R&D in that time period

  • Board of Directors declares a $0.50 per share quarterly dividend, payable in the first quarter of 2026, and increases share repurchase authorization to $10B, from $6B

NEW YORK (December 9, 2025) – GE Vernova (NYSE: GEV), a unique industry leader enabling customers to accelerate the energy transition, today hosts its 2025 Investor Update event to present its 2026 financial guidance and update its outlook by 2028, as well as provide commentary on key longer-term trends.

“At GE Vernova, we are in the early chapters of an incredible value creation opportunity with a stronger financial trajectory ahead,” said GE Vernova CEO Scott Strazik. “Electric power will be critical to unlocking economic growth in the decades ahead and we are well-positioned with our large installed base and platform of advanced solutions to serve this growing, long-cycle market. We will deliver value in the short term, but I’m most excited about our long-term potential as we focus on value-accretive capital allocation to drive growth and innovation while delivering shareholder returns. We are executing efficiently, and there is more to come as we enter 2026 with significant momentum.”

“We are executing our financial strategy, and we now expect to generate at least $22 billion in cumulative free cash flow by 2028,” said GE Vernova CFO Ken Parks. “Our large and growing backlog, with healthy margins from services and better equipment pricing, is furthering our momentum into 2026 and driving our increased outlook by 2028. We remain committed to maintaining an investment grade balance sheet as we make organic investments, pursue targeted M&A, and return at least one third of cash generation to shareholders through our higher dividend and increased share repurchase program.”

Financial Outlook
Today, GE Vernova reaffirms its 2025 revenue and adjusted EBITDA margin* guidance, raises its 2025 free cash flow* guidance, and presents its 2026 financial guidance. The company also raises its outlook by 2028, as presented at its 2024 Investor Update.

Financial Metric2025 Guidance2026 GuidanceOutlook by 2028
Revenue$36-$37B, trending towards the higher end$41-$42B$52B, low-double digits-a) organic growth*, up from $45B, high-single digits organic growth*
Adjusted EBITDA margin*8%-9%11%-13%20%, up from 14%
Free cash flow*$3.5-$4.0B, up from $3.0-$3.5B$4.5-$5.0B$22B+, up from $14B+ (cumulative '25 to '28)

(a - Compound annual growth rate through 2028; 2025 is the base year

Multi-Year Segment Financial Outlook
GE Vernova also reaffirms its 2025 segment guidance and provides additional multi-year guidance.

Segment2025 Guidance2026 GuidanceOutlook by 2028
Power
  • 6%-7% organic revenue* growth
  • 14%-15% segment EBITDA margin
  • 16%-18% organic revenue* growth
  • 16%-18% segment EBITDA margin
  • High-teens organic revenue* growth CAGR
  • Segment EBITDA margin of 22%, up from 16%
Electrification
  • Trending towards 25% organic revenue* growth
  • 14%-15% segment EBITDA margin
  • Approximately 20% organic revenue* growth
  • 17%-19% segment EBITDA margin
  • High-teens organic revenue* growth CAGR
  • Segment EBITDA margin of 22%, up from 16%
Wind
  • Organic revenue* down high-single digits
  • ~$400M of segment EBITDA losses
  • Organic revenue* down low-double digits
  • Similar losses to prior year
  • Down low-double digits organic revenue* CAGR
  • Segment EBITDA margin of 6%, down from 10%

All outlooks exclude the impact of the acquisition of the remaining 50% stake of Prolec GE and any related financing, which is expected to close by mid-2026, subject to customary regulatory approvals.

Capital Allocation
GE Vernova’s strategic principles for capital allocation continue to include organic investments to drive profitable growth, returning at least one third of cash generation to shareholders, and targeted mergers and acquisitions in core businesses. The GE Vernova Board of Directors has declared a $0.50 per share quarterly dividend, doubling from a $0.25 quarterly dividend, payable on February 2, 2026, to shareholders of record as of January 5, 2026. The Board of Directors has also approved a share repurchase authorization increase to $10 billion, from the prior authorization of $6 billion. GE Vernova has spent $3.3 billion of the authorization as of December 3, 2025.

Growth Beyond 2028
GE Vernova is well-positioned to deliver substantially higher returns beyond 2028, including from its:

  • Large and growing equipment and services backlog, which is expected to reach approximately $200 billion by year-end 2028.
  • More profitable, recurring Gas Power services revenue beginning in the 2030s.
  • Expanded investments into artificial intelligence, robotics, and automation.
  • Focus on developing and commercializing breakthrough energy technologies, including small modular nuclear reactors, carbon capture, solid oxide fuel cells, and grid-related technologies to support data centers and grid modernization.

Event Webcast
GE Vernova CEO Scott Strazik and CFO Ken Parks will present live from New York City, beginning at 4:30 PM ET today. The event will also be webcast, and accompanying materials and a replay can be accessed on GE Vernova’s Investor Relations website here.

Non-GAAP Financial Measures
In this document, the Company sometimes uses information derived from consolidated financial data but not presented in its financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission (SEC) rules. These non-GAAP financial measures supplement the Company’s GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons the Company uses these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in this press release and GE Vernova's quarterly reports on Form 10-Q filed with the SEC and any updates or amendments it makes in future filings.

2025 and 2026 Guidance and Outlook by 2028: Adjusted EBITDA margin*
We cannot provide a reconciliation of the differences between the non-GAAP financial measures expectations and the corresponding GAAP financial measures for adjusted EBITDA margin* in the 2025 and 2026 guidance and outlook by 2028 without unreasonable effort due to the uncertainty of the costs and timing associated with potential restructuring actions and the impacts of depreciation and amortization.

2025 and 2026 Guidance and Outlook by 2028: Free cash flow*​
We cannot provide a reconciliation of the differences between the non-GAAP financial measures expectations and the corresponding GAAP financial measure for free cash flow* in the 2025 and 2026 guidance and outlook for cumulative free cash flow* from 2025 through 2028 without unreasonable effort due to the uncertainty of timing for capital expenditures.

2025 and 2026 Guidance: Power and Electrification organic revenue*
We cannot provide a reconciliation of the differences between the non-GAAP financial measures expectations and the corresponding GAAP financial measure of Power and Electrification organic revenue* for 2025 and 2026 without unreasonable effort due to the uncertainty of foreign exchange rates.

*Non-GAAP Financial Measure
[1] Defined as remaining performance obligation (RPO) 

Caution concerning forward-looking statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “guidance,” “outlook,” “will,” “may,” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, expectations about our future business and operating results and opportunities; expectations regarding electricity demand; the benefits we expect from our lean operating model; our ability to increase production capacity, efficiencies, and quality; current and future customer orders; our actual and planned investments; our focus on developing and commercializing innovative breakthrough energy technologies; our expected cash generation and management; our financial strategy and capital allocation framework, including organic investments, M&A, share repurchases, and dividends; and our credit ratings.

Forward-looking statements reflect our current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties, and other factors, which could cause our actual results, performance, or achievements to differ materially from current expectations. Some of the risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by forward-looking statements include the following:

• Our ability to successfully execute our lean operating model;

• Our ability to innovate and successfully identify and meet customer demands and needs;

• Our ability to successfully compete;

• Significant disruptions in our supply chain, including the high cost or unavailability of raw materials, components, and products essential to our business;

• Significant disruptions to our manufacturing and production facilities and distribution networks;

• Changes in government policies and priorities that reduce funding and demand for energy equipment and services;

• Shifts in demand, market expectations, and other dynamics related to energy, electrification, decarbonization, and sustainability;

• Global economic trends, competition, and geopolitical risks, including conflicts, trade policies, and other constraints on economic activity;

• Product quality issues or product or safety failures related to our complex and specialized products, solutions, and services;

• Our ability to obtain required permits, licenses, and registrations;

• Our ability to attract and retain highly qualified personnel;

• Our ability to develop, deploy, and protect our intellectual property rights;

• Our capital allocation plans, including the timing and amount of any dividends, share repurchases, acquisitions, organic investments, and other priorities;

• Our ability to successfully identify, complete, integrate, and obtain benefits from any acquisitions, joint ventures, and other investments;

• The price, availability, and trading volumes of our common stock;

• Downgrades of our credit ratings or ratings outlooks;

• The amount and timing of our cash flows and earnings;

• Our ability to meet our sustainability goals;

• The impact from cybersecurity or data security incidents;

• Changes in law, regulation, or policy that may affect our businesses and projects, or impose additional costs;

• Natural disasters, weather conditions and events, public health events, or other emergencies;

• Tax law and policy changes;

• Adverse outcomes in legal, regulatory, and administrative proceedings, actions, and disputes; and

• Other changes in macroeconomic and market conditions and volatility.

These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements, and these and other factors are more fully discussed in our Annual Report on Form 10-K for the year ended December 31, 2024, and in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" sections included therein, as may be updated from time to time in our SEC filings and as posted on our website at www.gevernova.com/investors/fls. We do not undertake any obligation to update or revise our forward-looking statements except as may be required by law or regulation. This press release also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.

Additional Information
GE Vernova’s website at www.gevernova.com/investors contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit this website from time to time, as information is updated, and new information is posted. Investors are also encouraged to visit GE Vernova’s LinkedIn and other social media accounts, which are platforms on which the Company posts information from time to time.

Additional Financial Information
Additional financial information can be found on the Company’s website at www.gevernova.com/investors under Reports and Filings.

end

About GE Vernova

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

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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GE Vernova's 2025 Investor Update
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Onshore Wind

GE Vernova to equip second Greenvolt onshore wind farm in Romania

5 min read
  • Wind farm will use 42 of GE Vernova’s 6.1 MW–158m workhorse wind turbines

  • Second large deal announced in Romania in last two months

  • Project shows how wind power can support Romania’s goal of adding more renewable energy

BUCHAREST, Romania (December 4, 2025) - GE Vernova Inc. (NYSE: GEV) announced today that it has entered into an agreement with Greenvolt Power – part of Greenvolt Group, a global leader in 100% renewable energy – to supply, install and commission 42 of its 6.1 MW–158m* onshore wind turbines to power the Gurbanesti wind farm in Călărași county in Romania.

This follows an earlier announcement that GE Vernova will supply 42 turbines for the Ialomiţa wind farm in Romania. Together, the two projects will produce approximately 500 MW, supporting Romania’s goal of adding significantly more renewable energy by 2030.

The Gurbanesti order was booked in the fourth quarter of 2025. Deliveries of the wind turbines are scheduled to begin in 2026.

The projects increase significantly Greenvolt’s wind capacity across Europe. The wind farms will support hundreds of full-time jobs during peak construction and will generate enough electricity to power the equivalent of more than 110,000 homes annually in Romania.

Gilan Sabatier, Chief Commercial Officer for GE Vernova’s Onshore Wind business in International Markets, said “We are pleased to once again support Greenvolt as they work to bring online more renewable energy in Romania and across the globe. Paired with our earlier announcement about supporting a similar sized Romanian wind farm, today’s announcement reinforces the value our workhorse turbines can create for customers in Romania and across Europe.”

GE Vernova has a total installed base of approximately 57,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to its customers' success for more than two decades, its product portfolio offers next-generation high-powered turbines at scale that drives decarbonization through high-quality, affordable, and sustainable renewable energy.

###

*Note to Editors: GE Vernova’s 6.1 MW turbine with a 158-meter rotor is what we refer to as the 6.1 MW-158m.

end

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across approximately 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 Wind segment is focused on delivering a suite of wind products and services to help accelerate a new era of energy by harnessing the power of wind. Technologies provided to customers include the next generation high efficiency 3-megawatt onshore wind turbine and the Haliade-X offshore wind turbine platform, as well as maintenance solutions and life extension optionality.

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.

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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GE Vernova onshore workhorse wind turbine in Osterild, Denmark
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Nuclear Power

U.S. Department of Energy announces $400 million in funding to accelerate deployment of the nation’s first commercial small modular nuclear reactor

4 min read
  • GE Vernova Hitachi’s BWRX-300 small modular reactor to be located at Clinch River

WILMINGTON, North Carolina (December 2, 2025) – The U.S. Department of Energy (DOE) has announced a $400 million grant to the Tennessee Valley Authority (TVA) to continue to accelerate deployment of GE Vernova Hitachi Nuclear Energy’s BWRX-300 small modular reactor (SMR). With commercial operation of the first BWRX-300 at the utility’s Clinch River Site targeted for the early 2030s, it would become the nation’s first commercial SMR.

“The BWRX-300 is the only commercial SMR technology being built right now in the Western world, and this grant will accelerate its deployment in the U.S.,” said Scott Strazik, CEO, GE Vernova. “We would like to recognize the DOE for its leadership in support of the nuclear industry and for championing public-private partnerships to advance the next generation of nuclear technology and bolster the nation’s energy security.”

TVA led a coalition of utility and industry partners, including GE Vernova Hitachi, in applying for funding through DOE’s Generation III+ SMR program. The coalition of partners involved in the funding application reflects the industry’s confidence in the BWRX-300 and the role its accelerated deployment through this grant will play in further strengthening the U.S. nuclear supply chain.

In May of this year TVA submitted a construction permit application to the U.S. Nuclear Regulatory Commission (NRC) to build the first BWRX-300 in the U.S. at the Clinch River site in Oak Ridge, Tennessee. The NRC is currently reviewing the application.

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About GE Vernova Hitachi Nuclear Energy

GE Vernova’s Nuclear energy business, through its global alliance with Hitachi, is a world-leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. Technologies include boiling water reactors and small modular reactors, such as the BWRX-300, which is one of the simplest, yet most innovative boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a world-leading supplier of boiling water reactor fuel and fuel-related engineering services. GNF is a GE Vernova-led joint venture with Hitachi, Ltd. and operates primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan. HITACHI is a trademark of Hitachi, Ltd. used under trademark license. GE is a trademark 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.

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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Michael Lapides

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Onshore Wind

GE Vernova secures first onshore wind repower upgrade contract outside the United States with Taiwan Power Company

5 min read
  • First GE Vernova wind repower upgrade contract outside the United States, following over 6,000 turbines repowered in the United States

  • Announcement made during the B20 South Africa 2025 Summit in Johannesburg

  • Repower upgrade kits for 25 GE Vernova 1.5 MW-70.5m turbines for Taiwan Power Company (TPC), plus a five-year operations and maintenance services agreement

  • Extends turbine operating life beyond original design life, supporting Taiwan’s decarbonization and energy security goals

Taiwan, (November 19, 2025) – GE Vernova Inc. (NYSE: GEV) today announced its first onshore wind repower upgrade agreement outside the United States, signing with Taiwan Power Company (TPC) to supply 25 repower upgrade kits in Taiwan. The announcement was made during the B20 South Africa 2025 Summit in Johannesburg. The milestone international contract builds on GE Vernova’s track record of repowering over 6,000 wind turbines in the United States, extending that expertise to support Taiwan’s decarbonization goals.

Under the agreement, GE Vernova will provide repower upgrade kits to repower 25 GE Vernova 1.5 MW-70.5m turbines and deliver a five-year operations and maintenance (O&M) services package. The order was booked in the third quarter of 2025. Initial components are scheduled for delivery in the fourth quarter of 2025, with retrofit installation taking place throughout 2026 and 2027.

Wind repowering enables turbines approaching the end of their designed operational life to be modernized and returned to service with improved reliability and performance. By extending asset life beyond original design life, the project will help TPC continue generating affordable, renewable electricity while maximizing existing infrastructure.

Uzair Memon, Chief Commercial Officer for GE Vernova’s Onshore Wind Services business, said “As we bring our proven repowering capabilities to customers outside the U.S. for the first time, we’re proud to work with TPC to support Taiwan’s energy transition. The deal also reinforces how our services capabilities drive lifecycle value for our customers through fleet reliability, technology investment and an integrated global supply chain.”

The announcement aligns with one of the recommendations of the Energy Mix & Just Transition policy paper released at the B20 Summit, which calls on stakeholders to accelerate the expansion and modernization of energy infrastructure to increase energy efficiency, access, and reliable power supply. Roger Martella, Chief Corporate Officer and Chief Sustainability Officer, GE Vernova, was a co-chair of the group that developed the policy paper.

GE Vernova has a total installed base of approximately 57,000 turbines and nearly 120 GW of installed capacity worldwide. Building on more than two decades of customer relationships, GE Vernova offers high-quality, affordable, and sustainable wind solutions — including repowering and life-extension services — to power the world’s growing energy needs.

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About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across approximately 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 Wind segment is focused on delivering a suite of wind products and services to help accelerate a new era of energy by harnessing the power of wind. Technologies provided to customers include the next generation high efficiency 3-megawatt onshore wind turbine and the Haliade-X offshore wind turbine platform, as well as maintenance solutions and life extension optionality.

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.

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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Investor Relations

GE Vernova to host Investor Update event on December 9

2 min read

CAMBRIDGE, Mass. (November 18, 2025) – GE Vernova Inc. (NYSE: GEV) CEO Scott Strazik and CFO Ken Parks will host an Investor Update event in New York, New York on Tuesday, December 9, 2025, at 4:30 PM EST. Strazik and Parks will discuss the company’s 2026 financial guidance and update its outlook by 2028, as well as provide commentary on key longer-term trends.

The event will be webcast, and materials will be available through GE Vernova’s Investor Relations website at https://www.gevernova.com/investors/events.

Additional information
GE Vernova’s website at https://www.gevernova.com/investors contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit this website from time to time as information is updated and new information is posted. Investors are also encouraged to visit GE Vernova’s LinkedIn and other social media accounts, which are platforms on which the company posts information from time to time.

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About GE Vernova

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

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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Gas Power

GE Vernova to provide H-Class combined cycle equipment for Enea Group’s Kozienice Power Station in Poland

6 min read
  • With a start of operations scheduled in 2029, the new gas-fired plant is expected to deliver approximately 1.2 gigawatts (GW) of electricity to the national power system and generate up to 60% lower emissions compared to a coal-fired plant of similar size 

     

  • The new Kozienice plant is in line with the Enea Group’s Development Strategy 2035 and forms part of the company’s responsible energy transition plan

     

  • With this order, GE Vernova’s H-Class fleet has surpassed 200 units of orders.

ATLANTA, GA – (November 18, 2025) – GE Vernova Inc. (NYSE: GEV) today announced that it has received an order from Enea Group (Enea) for two of its 9HA.01 gas turbine combined cycle blocks to support ENEA’s gradual replacement of coal-fired power generation produced at Kozienice station and help support Poland’s energy transition. With this order, booked in the fourth quarter of 2025, GE Vernova H-Class fleet has surpassed 200 units of orders.

The new natural gas-fired Kozienice plant, powered by GE Vernova’s H-class natural gas-fired equipment, is expected to generate 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.

This project is in line with the Enea Group’s Development Strategy 2035 and forms part of the company’s responsible energy transition plan. Implementation of the strategy is expected to reduce the Group’s emissions by 64% by 2035. Enea aims to become a fully climate-neutral company by 2050.

“The new generation units will play a key role in the transformation of Poland’s energy sector. At the same time, it is important for us that the project’s implementation will also provide a strong development boost for the region and create tangible jobs,” said Grzegorz Kinelski, President of the Management Board of Enea. “We estimate that the involvement of Polish companies in the project will reach around 75%. A portion of key components will be manufactured in Poland, and the project’s implementation framework ensures significant participation of Polish design, construction, assembly and installation companies, as well as Polish suppliers of equipment and technological systems. The new CCGT units in Kozienice will also contribute to stabilizing the national power system.”

For the Kozienice power plant, GE Vernova is expected to provide two blocks, each including a 9HA.01 gas turbine, an STF-D650 steam turbine, a W88 generator, integrated Mark* VIe Distributed Control System (DCS) and a three-pressure level with reheat Heat Recovery Steam Generator (HRSG). The steam turbine and the generator will be manufactured locally in Poland, in GE Vernova’s factories in Elblag and in Wroclaw, respectively, while the gas turbine will be manufactured at GE Vernova’s Manufacturing Excellence Center in Belfort, France.

“Poland is poised to emerge as a model nation for the energy transition, as it stands on the brink of rapidly diversifying its energy sources,” said Joseph Anis, President & CEO for GE Vernova’s Gas Power business in Europe, Middle East & Africa. “Through this project, we’ll bring our cutting-edge combined-cycle power plant technology to help meet Enea’s objectives in terms of energy security, costs, and sustainability. We are thrilled to celebrate this significant milestone as GE Vernova’s H-Class fleet has now exceeded 200 units of orders. This achievement underscores our commitment to innovation and excellence in the industry. We extend our gratitude to our customers for their continued trust and collaboration, which have been instrumental in reaching this remarkable landmark."

The plant will be built by the engineering, procurement, and construction (EPC) company Calik Enerji.

“Delivering on Poland's commitment to transition within the framework of European Union public procurement regulations while strengthening energy security and providing affordable power requires advanced technology, engineering excellence, and forward-looking collaborations,” said Temel Kotil, CEO & Board Member of Çalık Enerji. “We are proud to bring our deep expertise and uncompromising standards to the Kozienice project on top of our strengthening presence in Europe, and to collaborate with GE Vernova in providing a new generation of more sustainable and resilient power for the people of Poland.” 

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About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across approximately 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 power plant technologies and services with the industry’s largest installed base. 

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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Kozienice Plant
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GE Vernova | Communications, Europe