• GE Vernova’s Advanced Turbine to Power Jafurah Cogeneration Plant in Saudi Arabia
• Efficient and Hydrogen-Ready Turbines to Support Renewable Energy Integration

DAMMAN, SAUDI ARABIA; (July 1, 2024) – GE Vernova Inc. (NYSE: GEV) has successfully rolled out its first H-Class gas turbine at the GE Saudi Advanced Turbines (GESAT) facility in Dammam, in the presence of HRH Prince Abdulaziz bin Salman, Minister of Energy. This milestone was celebrated during an official ceremony attended by key figures, including Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East, and Africa.

GE Vernova’s H-Class turbines, known for their high efficiency and hydrogen readiness, are set to power the Jafurah Cogeneration Independent Steam and Power Plant (ISPP). Once operational, this plant is expected to be the most efficient in Saudi Arabia, producing up to 630,000 barrels of natural gas liquids and 420 million standard cubic feet of ethane daily by 2030.

The GESAT facility, a joint venture between Dussur and GE Vernova, is the first in Saudi Arabia to manufacture H-Class turbines and components. This accomplishment aligns with Saudi Vision 2030, aiming to boost economic diversification and local skills development.

Hisham Al Bahkali, President of GE Vernova in Saudi Arabia, emphasized GESAT’s role in industrial localization, noting the facility’s export of over 200 accessory modules for power plants generating more than 11 GW since 2018. The rollout of the advanced turbine underscores GE Vernova’s commitment to supporting Saudi Arabia’s energy needs and sustainability goals.

Joseph Anis highlighted GE Vernova’s long-standing legacy in Saudi Arabia, reflecting nearly 90 years of commitment to the Kingdom’s energy security, economic diversification, and talent development. The H-Class turbines, capable of quickly adjusting to grid demands, are essential for integrating renewable energy into the power system.

In addition to the turbine rollout, GE Vernova signed a Memorandum of Understanding (MoU) with the Saudi Export-Import Bank (EXIM) to facilitate the export of goods and services from Saudi Arabia, further supporting economic diversification. This MoU aims to bolster export projects with lending and insurance support from the Saudi EXIM Bank.

GE Vernova, now an independent company following its spin-off from GE on April 2, 2024, plays a significant role in the global energy transition. With 55,000 wind turbines and 7,000 gas turbines, GE Vernova’s technology generates about 25% of the world’s electricity.

Forward-Looking Statements

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About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company comprising Power, Wind, and Electrification segments, supported by accelerator businesses. With over 130 years of experience, GE Vernova aims to lead the energy transition by electrifying the world while working to decarbonize it. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people in over 100 countries, delivering sustainable and secure energy solutions. The company’s Gas Power business focuses on advanced, efficient natural gas-powered technologies and decarbonization solutions, with the largest installed base of gas turbines globally.

GE Vernova’s name reflects its mission: “GE” signifies quality and ingenuity, “Ver” and “verde” indicate lush ecosystems, and “Nova” signifies a new era of low-carbon energy.

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