Be a leading provider of new power generating capacity and grid capacity for the world

As the demand for electricity is expected to double by 2045 under conservative estimates, the infrastructure to reliably produce, transmit, and transform it will become constrained. As manufacturing capacity to produce and meet the global demand for this type of equipment grows, we will measure the amount of power we bring to the grid – known as generating capacity – and the amount of power that can be effectively transmitted through newly installed infrastructure to homes and businesses – known as grid enabling capacity. In 2024, we brought an additional 31 GW of new power generating capacity online, while 71 GW of new power transformers were energized. In addition to grid enabling power transformers, our Electrification Systems businesses deployed approximately 6 GW of renewable- enabling solar inverters that connect large-scale solar to the grid. Further, 310,000 pieces of our Grid Automation Equipment, without which substations and the transmission system would not be able to work, were shipped from our factories in 2024.

Support workforce development, with a focus on underserved populations globally

The energy sector requires more highly skilled, specialized workers compared to other industries, with 36% of the energy workforce typically requiring some form of tertiary education, and 51% requiring some vocational training¹. The recently established GE Vernova Foundation supports the development of the energy workforce, and helps drive awareness of the critical role the skilled workforce plays in powering the world. In 2024, we reached ~5,700 students and learners, comprising 19% of our goal. The Foundation focuses its strategic giving on efforts that support the future energy workforce. Key areas include:

• Education and training programs
• Promotion of skilled trades
• Collaborations with industry
• Technological integration
• Continuous skilling and upskilling