• Investment targets hydropower and grid infrastructure to strengthen long-term energy resilience

SOREL-TRACY, Canada (August 27, 2025) – GE Vernova Inc. (NYSE: GEV) has announced plans to invest CAD 22.2 million in its Quebec-based facilities, focusing on expanding its hydropower site in Sorel-Tracy and its grid solutions facility in La Prairie. The initiative is designed to support rising electricity demand across Quebec and Canada while reinforcing grid reliability and accelerating the energy transition.

With national electricity demand projected to double by 2050—and Quebec alone expecting up to a 35% increase by 2035—the province is advancing large-scale infrastructure investments under Hydro-Québec’s long-term development strategy. In response, GE Vernova is scaling up its manufacturing and engineering capabilities to meet increasing requirements for modernization, capacity expansion, and system resilience.

Expanding Hydropower Manufacturing Capacity

A total of CAD 16.2 million will be directed toward the Sorel-Tracy hydropower facility. This expansion, partially supported by a government loan of up to CAD 2.5 million, includes a 20% increase in floor space and the installation of new equipment for large-component manufacturing. The project is expected to create 28 new jobs while sustaining 75 existing positions.

The Sorel-Tracy site has been a cornerstone of turbine manufacturing since 1957 and plays a critical role in supplying hydropower components both domestically and internationally. Today, it focuses on modernizing aging infrastructure—an essential priority given that hydropower accounts for roughly 60% of Canada’s electricity generation, while the average plant age exceeds five decades.

The expansion will enable GE Vernova to respond more effectively to growing demand, particularly for refurbishment and modernization projects. Long-term collaboration agreements with major asset owners are also driving this need, providing visibility into future project pipelines and allowing for better planning, design, and supply chain coordination.

A notable example is a 15-year framework agreement with Ontario Power Generation, under which GE Vernova will modernize up to 25 hydropower units in the Niagara region. Turbine components for these upgrades will be produced at the Sorel-Tracy facility.

Strengthening Grid Infrastructure Capabilities

An additional CAD 6 million will be invested in the La Prairie facility, which specializes in high-voltage transmission equipment. The expansion aims to enhance production capacity and technical capabilities to better serve the North American market.

This upgrade is particularly significant as Canada works to modernize its power grid to accommodate increased demand and integrate renewable energy sources. The La Prairie site—marking 60 years of operation—will play a key role in supporting these efforts, including supplying critical components such as dead tank circuit breakers, which are essential for grid stability and protection.

The enhanced capabilities will also support Hydro-Québec’s ambitious infrastructure plans, ensuring the grid can handle higher loads while maintaining reliability and resilience.

Supporting Canada’s Energy Transition

GE Vernova’s leadership emphasized that the investment reflects a long-term commitment to Canada’s energy future. The company’s technologies already contribute a significant share of the country’s electricity generation, and these upgrades are intended to further strengthen that role.

The announcement was made during a groundbreaking ceremony in Sorel-Tracy attended by government officials and regional representatives, highlighting the project’s importance for both national energy strategy and local economic development.

Local leaders noted that the investment reinforces Sorel-Tracy’s historical importance in the hydropower sector and will generate positive spillover effects for regional suppliers and manufacturers involved in the energy value chain.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company focused on Power, Wind, and Electrification. With over 130 years of experience and approximately 85,000 employees worldwide, the company is advancing technologies that support electrification and decarbonization simultaneously.

Its Hydro Power division develops advanced systems that harness water resources to provide reliable, large-scale electricity generation, supporting both major economies and remote communities.

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