Schenectady, NY (July 10, 2024) — GE Vernova has unveiled plans for a $22 million investment in its Schenectady facility, aimed at producing advanced generators to meet growing global demand. This investment is expected to create over 150 new jobs in the area.

“This funding will enable us to better serve our international customers and expand our skilled workforce in the Capital District,” stated CEO Scott Strazik. “Our commitment to enhancing our Schenectady facility is unwavering, and this investment represents a significant step forward.”

The new funding will facilitate the production of GE Vernova’s H65 and H84 generators, which require cutting-edge manufacturing processes for the stator bars and stator core systems. These generators complement the company’s highly efficient HA gas turbines.

This investment follows a $50 million infusion in 2023 aimed at boosting onshore wind turbine manufacturing, which created approximately 200 jobs and resulted in the successful delivery of 56 units this year. Additionally, last year saw an $11 million allocation for increasing capacity, maintaining the facility, and managing equipment and tools.

GE Vernova, with a 130-year history in New York state, operates its Gas Power and Onshore Wind businesses and its Advanced Research Center from the region. As a newly public company, having completed its spinoff in April, GE Vernova is evaluating further investments in the Capital Region.

“This area is the bedrock of GE Vernova,” said Strazik. “We are fortunate to have incredible talent here, and we are dedicated to fostering and investing in our workforce.”

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 is at the forefront of the energy transition, striving to electrify the world while reducing carbon emissions. The company supports economies by providing essential electricity for health, safety, security, and enhanced quality of life. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people across over 100 countries. Guided by its mission, “The Energy to Change the World,” GE Vernova aims to deliver a more affordable, reliable, sustainable, and secure energy future.

The company’s name reflects its legacy: “GE” stands for its long-standing reputation for quality and innovation, while “Ver”/“verde” symbolizes Earth’s lush ecosystems, and “Nova,” from the Latin “novus,” indicates a new era of innovative, low-carbon energy solutions.

Source