24.April
Duke Energy and GE Vernova announce significant arrangement for gas turbines and associated equipment
- Strategic collaboration establishes framework for Duke Energy to acquire up to 11 domestically manufactured GE Vernova natural gas turbines.
- Agreement positions Duke Energy to address escalating energy demands fueled by regional economic expansion and artificial intelligence infrastructure development.
CHARLOTTE, N.C. and CAMBRIDGE, MASS. (April 24,2025) – Duke Energy (NYSE: DUK) and GE Vernova (NYSE: GEV) unveil major procurement agreement for natural gas turbines and complementary infrastructure to support advanced manufacturing hubs, data center clusters, and population growth corridors.
Central to the collaboration is a roadmap for up to 11 7HA gas turbines aligned with Duke Energy’s long-term resource planning. This initiative supports the utility’s objectives of maintaining grid reliability while optimizing cost efficiency for consumers, even under aggressive growth projections. This procurement follows the recent acquisition of eight 7HA gas turbines.
“The accelerated expansion across our service regions necessitates securing critical infrastructure components to satisfy surging energy requirements,” stated Duke Energy President and CEO Harry Sideris. “This partnership with industry innovators enables us to advance our modernization goals while delivering sustained value to customers and stakeholders.”
The deal leverages GE Vernova’s previously announced Greenville, S.C. facility expansion to address record turbine demand from new and existing clients. This $600 million U.S. manufacturing investment over two years includes $300 million allocated to Gas Power operations, modernizing legacy production lines with lean manufacturing systems. The upgrades will expand supplier networks, generate over 1,500 domestic jobs, and enhance operational capabilities.
“This partnership and our U.S. production expansion demonstrate our dedication to delivering tailored energy solutions that address current and emerging power needs,” said Scott Strazik, CEO, GE Vernova. “We’re proud to provide Duke Energy with gas turbines produced at our Greenville facility, supporting reliable energy delivery for millions of consumers.”
Deploying these assets at existing Duke Energy sites allows utilization of established transmission infrastructure, reducing capital expenditures and accelerating deployment timelines.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 enterprise based in Charlotte, N.C., ranks among the largest U.S. energy holding companies. Its electric utilities serve 8.4 million customers across six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky – operating 54,800 megawatts of generation capacity. Natural gas services reach 1.7 million customers in five southeastern and midwestern states.
The company is advancing a comprehensive energy transition strategy prioritizing grid reliability and customer value while developing cleaner energy solutions. Current initiatives include major grid modernization projects and investments in diverse generation sources including natural gas, nuclear, renewable energy, and storage systems.
About GE Vernova
GE Vernova Inc. (NYSE: GEV) operates as a purpose-driven global energy enterprise encompassing Power, Electrification and Wind divisions supported by accelerator businesses. Drawing on more than a century of technical expertise, the company plays a pivotal role in advancing the energy transition by expanding global electrification while pursuing decarbonization. GE Vernova empowers economic growth through critical electricity infrastructure essential for public health, safety, security, and quality of life improvements. Headquartered in Cambridge, Massachusetts, the company employs approximately 85,000 personnel across 100 countries. Guided by its mission, The Energy to Change the World, GE Vernova develops technologies enabling more affordable, reliable, sustainable, and secure energy systems.
GE Vernova’s Gas Power division develops high-efficiency natural gas generation technologies and decarbonization services aimed at creating a cleaner energy future. The business maintains global leadership in gas turbine and power plant solutions, supported by the industry’s largest installed base.