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

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

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

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

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

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

Key performance benefits[1] include:

Higher efficiency for combined-cycle power plants:

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

[1] Indicative values based on:

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

###

Notes to editors

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

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

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

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

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

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

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

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

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

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

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

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

END

Notes to editors

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

Hammerfest, Norway (May 21, 2025) – GE Vernova Inc. (NYSE: GEV) today announced the forthcoming deployment of two high-voltage 420 kV sulfur hexafluoride - free (SF₆-free) gas-insulated substations (GIS) for Statnett SF, Norway’s Transmission System Operator (TSO), and Equinor ASA. Awarded in the fourth quarter of last year, the contract covers the design, supply, and installation of GIS units at Skaidi and Hyggevatn as part of Statnett’s 420 kV transmission line project—an important milestone supporting Norway’s energy transition and decarbonization effort.

The Skaidi substation involves upgrading the existing facility, while the Hyggevatn substation will be a completely new installation. Together, they aim to modernize Norway’s electrical grid, increase capacity, and electrify Melkøya Island, home to Equinor’s Snøhvit gas field and Hammerfest LNG plant. This initiative aligns with Statnett’s and Equinor’s commitment to achieving a sustainable energy transition while reducing greenhouse gas emissions.

The design of these next-generation substations will be based on GE Vernova’s g³ technology, which replaces SF₆ gas, a potent greenhouse gas commonly used in high-voltage equipment. The g³ technology is part of GE Vernova’s GRiDEA portfolio, a suite of decarbonization solutions that empower grid operators to meet their net-zero objectives. Launched in 2014, g³ gas shows an approximately 99% reduction in greenhouse gas contribution to global warming compared to SF₆, supporting the energy sector’s decarbonization goals.

Driving decarbonization of the grid across Europe

“This project in Norway is the latest of many contracts that we have signed for our new SF₆-free 420 kV T155g GIS since our first one in Scotland in 2020. GE Vernova’s g³ product portfolio has experienced strong commercial growth since the launch of our first SF₆-free product, underscoring the trust placed in g³ by over 60 utilities in Europe and Asia,” said Eric Chaussin, Power Transmission Business Leader at GE Vernova’s Electrification segment. “This marks another important milestone in our journey to electrify and decarbonize the world’s grids. We are proud to support the climate ambitions of Norway.”

GE Vernova’s g³ technology roadmap covers a wide range of voltage levels, from 72.5 kV up to 550 kV. The EU Commission LIFE Programme recognized the potential of this innovative technology by co-funding the development of the SF₆-free 420 kV GIS interrupter under the "LifeGRID" project. The g³ technology is now enabling utilities to take immediate action to reduce the carbon footprint of their high-voltage power grids, supporting their decarbonization goals.

Statnett’s Skaidi and Hyggevatn substations are expected to become operational by 2029. GE Vernova has a  track record of successful GIS Substations in Norway, including in Oslo Smestad, Sogn, and Hamang.

-ENDS-

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 address GE Vernova's expected future business and financial performance, 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 business operations, financial results and financial position and on the global supply chain and world economy

The peculiar machine described in the 1920 issue of GE Review — essentially a giant engine designed to produce no mechanical power — seems like nothing more than a charming relic from the early years of electrification.

KNOXVILLE, Tenn. (May 20, 2025) – Tennessee Valley Authority (TVA) has submitted an application to the U.S. Nuclear Regulatory Commission to construct a GE Vernova Hitachi Nuclear Energy (GVH) BWRX-300 small modular reactor (SMR) at the Clinch River site in Oak Ridge, Tennessee. It is the first construction permit application for a BWRX-300 in the U.S.

“TVA’s investment in the standard design of the BWRX-300 technology will accelerate its deployment, helping meet the rising demand for energy and enhancing energy security,” said Craig Ranson, President & CEO, GVH. “This milestone, in addition to this month’s decision by the Province of Ontario to build the western world’s first SMR, demonstrates that this technology is advanced and real.”

TVA has invested in the standard design of the BWRX-300 as part of a technical collaboration agreement with Ontario Power Generation (OPG), Synthos Green Energy and GVH. TVA is also leading a coalition of utility companies and supply chain partners that has applied for an $800 million U.S. Department of Energy grant to accelerate construction of the nation’s first SMR.

Momentum continues to build around the global deployment of the BWRX-300. Earlier this month, the Province of Ontario and OPG announced approval to proceed with construction of the first BWRX-300 at OPG’s Darlington site near Toronto. A total of four BWRX-300s are planned for the site with construction of the first unit to be complete by the end of the decade.

In January, it was announced that Duke Energy has entered into an agreement to invest in activities to advance the standard design and licensing of the BWRX-300 SMR and that American Electric Power (AEP) has selected the BWRX-300 for potential deployment at the Indiana Michigan Power Rockport Plant in Spencer County, Indiana, pending approval of the DOE funding request that TVA is leading.

The BWRX-300 SMR represents a cutting-edge technology designed to deliver reliable and carbon-free power with enhanced safety and efficiency. Each BWRX-300 will provide approximately 300 MW of electricity, enough to produce the equivalent electricity needed to power 300,000 homes while significantly reducing the complexity and cost associated with traditional nuclear reactors.

###

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.

Tucker, GA (May 20, 2025) – Today, Oglethorpe Power announced a major milestone in its efforts to supply its 38 member electric cooperatives with more generation to help meet Georgia’s growing electricity demand, selecting GE Vernova’s 7HA.03 combined-cycle technology for its new natural gas plant in Monroe County. As part of the agreement, GE Vernova is expected to supply two of its high-efficiency 7HA.03 gas turbines, two H84 hydrogen-cooled generators, two triple-pressure with reheat Heat Recovery Steam Generators and two STF-D600 steam turbines with H65 hydrogen-cooled generators. The gas turbines are manufactured in GE Vernova’s Greenville, South Carolina facility. In addition, GE Vernova is selected to provide a 20-year long-term service agreement, including all services and parts for the HA gas turbines, steam turbines and associated generators, to maintain the highest availability and reliability possible.

“GE Vernova’s advanced combined-cycle technology and services will help make Oglethorpe Power’s new Monroe County facility among the highest-performing, lowest-emitting and most efficient natural gas plants in Georgia,” said Oglethorpe Power President & CEO Annalisa Bloodworth. “We are proud to secure the technology for this critical energy project at a time when utilities across the globe are seeking solutions to meet rapidly growing energy demand. Once operational, this facility is expected to generate more than 1,400 megawatts of reliable energy for our members and the Georgia communities they serve.” Oglethorpe Power has collaborated with GE Vernova for many years to maintain and enhance existing turbines within its diverse resource portfolio.

“We are honored to have been selected to provide our highly efficient H-Class combined-cycle equipment for Oglethorpe Power’s new plant in Georgia,” said Dave Ross, CEO of GE Vernova’s Gas Power Americas region. “GE Vernova’s HA gas turbine fleet is among the most responsive and flexible in the industry, and we’re proud to support Oglethorpe Power and its members in meeting the state’s growing energy demands by delivering reliable electricity powered by our cutting-edge and highly efficient technology.”

Oglethorpe Power has expanded its generation capacity with eight natural gas-fired acquisitions in Georgia over the last 16 years, totaling more than 3,600 megawatts, and has also significantly invested in emission-free nuclear energy with the completion of the Vogtle expansion project. Additionally, the company co-owns Units 1 and 2 of Plant Scherer, a coal-fired generation facility also located in Monroe County, which provides more than 1,000 megawatts of dispatchable energy, providing tremendous reliability to the electric grid through onsite fuel storage. Oglethorpe Power also owns and operates more than 800 megawatts of pumped-storage hydroelectric generation.

As a result of this diverse generation portfolio, Oglethorpe Power projects that its carbon emissions intensity rate will decline by 41 percent by the end of 2025 compared to 2005 levels, while at the same time anticipating a 68 percent increase in the energy it generates for its member cooperatives. Oglethorpe Power’s investment in GE Vernova’s highly efficient technology will continue to support the company’s measured transition to a lower-carbon future.

Following a successful permitting process for the Monroe County combined-cycle project, Oglethorpe Power plans to begin work onsite as early as Fall 2025 and break ground shortly thereafter, with commercial operation expected to begin in 2029. Once all necessary permits have been received, additional details on the construction process and timeline for the project will be available at www.opc.com/newgeneration.

END

Notes to editors:
The Oglethorpe Power project is tied to a Slot Reservation Agreement signed with GE Vernova in 4Q 2024. The order is expected to be booked in 2025.

About Oglethorpe Power

Oglethorpe Power is among the nation’s largest power supply cooperatives and is one of the largest energy producers in Georgia. With more than $16 billion in assets, Oglethorpe Power owns and operates a diverse portfolio of resources to provide reliable, affordable, safe and environmentally responsible energy to 38 consumer-owned, not-for-profit Electric Membership Cooperatives (EMCs) that provide retail electricity to approximately 4.7 million Georgians. Through its investment in nuclear, natural gas, hydro and coal resources, Oglethorpe Power’s generation fleet has a combined capacity of more than 9,300 megawatts. For more information, visit www.opc.com.

Contact:                      Blair Romero

Phone Number:          770-270-7290

Email:                         blair.romero@opc.com 

CAMBRIDGE, Mass. (May 15, 2025) – GE Vernova Inc. (NYSE: GEV) Chief Executive Officer, Scott Strazik, will present at the Bernstein 41st Annual Strategic Decisions Conference in New York City on Wednesday, May 28, at 11:00 AM ET. Strazik will speak in a fireside chat on how GE Vernova is delivering on growing demand at the beginning of the electricity investment supercycle.

The conference webcast and replay 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.

Aarhus and Kolding, Denmark (May 15, 2025) - Vestas and LM Wind Power are pleased to announce a deal that will see LM Wind Power’s blade factory in Goleniów near Szczecin, Poland, become part of Vestas’ growing European manufacturing setup for an undisclosed amount paid by Vestas to LM Wind Power. The factory produces blades for Vestas’ onshore wind solutions and will continue to play a key role in meeting Poland’s and the rest of Europe’s growing energy needs.

Vestas Chief Technology and Operations Officer, Anders Nielsen says: “Europe needs secure, affordable and sustainable energy more than ever, and we’re pleased to expand our European manufacturing footprint to support wind energy’s growing role in Europe’s energy system. I want to thank LM Wind Power for their support and collaboration through the years, and we’re very pleased that our respective strategic priorities have made it possible for the factory to continue operating and be part of Vestas’ continued growth in Europe.”

LM Wind Power CEO, Hanif Mashal says: “This proposed transaction is a strategic move for LM Wind Power and GE Vernova. This transaction would enable us to simplify our business and reinvest capital into our core European Union (EU) manufacturing facilities producing GE Vernova wind products to better serve our loyal customer base in the EU. We are grateful for the opportunity to collaborate with Vestas on the proposed transfer of this factory, previously dedicated to their projects, directly to their ownership to continue fulfilling their needs. We will work closely with Vestas on a smooth completion of the transaction.”

The factory was established in 2009, expanded in 2017 and will continue to deliver blades for Vestas’ onshore wind solutions, including the V172-7.2 MW turbine. The transaction is subject to the required regulatory approval.

###

About LM Wind Power
GE Vernova's LM Wind Power business is an industry-leading developer and manufacturer of high-quality rotor blades for onshore and offshore wind turbines with blade services solutions and a global manufacturing footprint.

About Vestas
Vestas is the energy industry’s global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe, and with more than 190 GW of wind turbines in 88 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 157 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas’ more than 35,000 employees are bringing the world sustainable energy solutions to power a bright future.

Delhi, India (May 14, 2025) GE Vernova (NYSE: GEV) today announced plans to invest approximately USD $16 million in India to expand its electrification manufacturing and engineering footprint—specifically, advanced grid technologies that enable stable, reliable, and secure delivery of electricity.

The investment will be made by GE Vernova T&D India Limited (NSE: GEV T&D), the listed entity of GE Vernova’s Electrification business in India and includes the development of a new manufacturing line at its existing facility in Chennai (Pallavaram) and a new facility in Noida. These expansions are expected to enhance the ability of GE Vernova T&D India Limited to manufacture and test key next-generation equipment used in modern transmission systems, supporting both India’s energy transition and export demand from other fast-growing economies.

These new expansions will focus on High Voltage Direct Current (HVDC) and Flexible Alternating Current Transmission Systems (FACTS)—technologies that help stabilize power grids, reduce transmission losses, and make it easier to connect renewable energy like solar and wind. These systems are critical for getting renewable energy from where it’s generated—often in remote areas—to where it’s needed most: cities, industries, and communities.

“India continues to be a critical part of our global strategy—both for our customers and as a manufacturing hub,” said Johan Bindele, VP of Grid Systems Integration at GE Vernova. “GE Vernova’s Electrification equipment backlog has more than tripled over the past year—driven by strong demand for transformers, switchgear, and grid technologies including HVDC and FACTS. These new expansions are aimed at enhancing our capabilities in the region, helping reduce supply chain dependencies, and allowing us to deliver faster, smarter solutions to customers in India and around the world.”

“With energy demand rising and more renewables being added to the grid, the need for strong, smart, and flexible infrastructure has never been greater,” said Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India Limited. “Through this investment, we are strengthening our ability to deliver technologies that help utilities move more power, with fewer losses, over longer distances—and do it more sustainably.”

Investment Details:

• The new manufacturing line at the existing Chennai facility will produce Line Commutated Converter (LCC) HVDC valves and Voltage Source Converter (VSC) Static Synchronous Compensator (STATCOM) valves. 
  These valves are key components of advanced HVDC and FACTS systems. LCC is typically used for long-distance, high-capacity power transmission, while VSC is more suitable for connecting renewable energy sources and providing grid stability.
• In Noida, GE Vernova T&D India Limited will set up a new engineering and test lab to support design and system validation for these solutions, as well as supply control systems ensuring quality and performance in real-world grid conditions.

The Noida lab is expected to be operational by the end of 2025, and the new manufacturing line in Chennai facility by early-2027.

Included within GE Vernova’s previously announced ~$4 billion cumulative capex plan through 2028, this investment is part of GE Vernova’s broader “Asia for Asia” strategy—focusing on building localized manufacturing capacity to better serve regional needs, while contributing to global supply chain resilience. It also supports India’s ambition to become a renewable energy leader by expanding access to “Make in India” technologies that power everything from homes to factories with more efficiency and less environmental impact.

GE Vernova T&D India currently operates five manufacturing facilities across the country and has served the Indian grid for over 100 years.

-End-

About GE Vernova T&D India
GE Vernova T&D India Ltd is the listed entity of GE Vernova’s Electrification segment in India. With over 100 years of presence in the country, GE Vernova T&D India is a leading player in the power transmission and distribution business. The company provides a versatile and robust range of solutions for connecting and evacuating power from generations sources onto the grid, and a wide range of products including power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, substation automation, digital software solutions, turnkey substation solutions, FACTS, HVDC, and maintenance support. With five manufacturing sites, GE Vernova T&D India is future ready to meet the industry’s growing demand for grid equipment and services. GE Vernova is committed to invent, deploy, and service technology to help decarbonize and electrify the Indian grid, and catalyse access to more secure, sustainable, reliable, and affordable electricity, to help drive global economic development.

https://www.gevernova.com/regions/in/ge-td-india-limited

RIYADH, Kingdom of Saudi Arabia (May 14, 2025) – In the presence of HRH Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Donald Trump, President of the United States of America, GE Vernova Inc. (NYSE: GEV) announced initiatives worth up to $14.2 billion for its world class energy equipment technology and services to support power generation and grid stability projects. The announcements include up to $2 billion in backlog or on a reservation agreement as of the first quarter of 2025, with future contracts and memorandums of understanding (MOUs) for agreements spanning across the next four years. The initiatives are expected to play a strong role in supporting the Kingdom to achieve its energy goals under Saudi Vision 2030 and transition to net zero by 2060.

“As the world's energy equipment manufacturer, GE Vernova is proud to deploy world class technology to help deepen the longstanding relationship between the United States and the Kingdom of Saudi Arabia, advance energy security, and strengthen the economic prosperity and competitiveness of both nations. We are thankful for the leadership of both governments for putting energy manufacturing, innovation, and technology front and center, setting the strongest possible precedent for the role of equipment to unlock more solutions globally. We are committed to continuing our work to grow capacity and jobs in the U.S. and beyond to meet these critical needs," said Scott Strazik, CEO of GE Vernova.

Collaborations to accelerate the energy transition and power Saudi Arabia forward

• Saudi Electricity Company (SEC) and GE Vernova announced initiatives spanning the supply of highly efficient and flexible heavy duty gas turbines - built in Greenville, SC, with a deep U.S. supply chain; synchronous condensers and balance of plant equipment that can support grid stability by providing voltage regulation, reactive power, and system strength, supplying crucial inertia to maintain reliable operations as more variable renewable energy is integrated into the system; and capital parts, maintenance and repair services for more efficient and reliable power plant operations.
• Principal Buyer and GE Vernova entered MOUs to supply advanced power generation equipment and services for future projects; commercialize carbon capture technologies; and training and investments in power sector manufacturing, repairs, and research and development (R&D) activities.
• ACWA Power and GE Vernova signed frameworks to collaborate on identifying and exploring potential opportunities to supply high efficiency gas turbines and electrification equipment for projects expected in the Kingdom of Saudi Arabia. ACWA Power is the world's largest private water desalination company, a leader in energy transition, and a first mover in green hydrogen.
• Aramco and GE Vernova announced collaborations to provide maintenance services, repairs, spare parts, and more to support the reliable operations of various power plants around the Kingdom.

With a power generation technology installed base of more than 50 gigawatts, and nearly 90 years of operations in the Kingdom, GE Vernova plays a vital role in Saudi Arabia’s energy transition, supporting economic growth, and fostering talent. The company’s presence in Saudi Arabia includes the GE Manufacturing and Technology Center (GEMTEC) Campus in Dammam - featuring a service and repairs center for gas turbines, a manufacturing facility for heavy duty gas turbines and components, and a research and development cell – as well as an employee base of up to 850 people.