BROSSARD, Canada (June 26, 2025) – GE Vernova Inc. (NYSE: GEV) has been awarded a contract by Rio Tinto, one of Canada’s largest private hydroelectricity producers, to modernize eight turbine-generator units at the Isle Maligne hydropower station located in Quebec’s Saguenay–Lac-Saint-Jean region.

The facility, which operates a total of twelve Francis turbine units, has been supplying hydroelectric power for nearly a century. The upcoming modernization initiative is designed to improve operational performance, extend equipment lifespan, and strengthen the long-term reliability of the plant for decades ahead.

Electricity generated by the upgraded facility will continue supporting Rio Tinto’s five low-carbon aluminum smelters operating throughout the Saguenay–Lac-Saint-Jean region.

The new agreement expands on earlier work completed by GE Vernova at the site. In a previous phase, the company modernized one generator unit at Isle Maligne. Following the success of that project, Rio Tinto and GE Vernova decided to pursue a broader long-term modernization strategy covering the remaining turbine-alternator systems.

The expanded scope is expected to improve planning visibility, optimize project execution schedules, strengthen supply chain coordination, and lower long-term ownership costs. Modernization of the first unit is scheduled to begin in 2026, with the final upgraded unit expected to be completed by 2032.

The project reflects the long-standing relationship between Rio Tinto and GE Vernova, which has included collaboration on several hydroelectric facilities across Quebec, including the Shipshaw hydropower complex.

“The Isle-Maligne hydropower station has been a strategic asset for Rio Tinto for nearly 100 years,” said Sébastien Ross, Managing Director for Atlantic Operations at Rio Tinto Aluminium. “This investment will help secure the long-term competitiveness and sustainability of our low-carbon aluminum operations in Quebec for both Canadian and U.S. customers.”

Frederic Ribieras, CEO of GE Vernova’s Hydro Power business, noted that the project demonstrates how aging hydro infrastructure can achieve major efficiency and performance gains without requiring complete reconstruction of core facilities. He also emphasized the importance of long-term partnerships in managing supply chain challenges within the growing global hydropower sector.

Hydropower remains central to Canada’s low-carbon electricity system, supplying roughly 60% of the country’s power generation. However, many facilities across the country are aging, with the average Canadian hydropower plant now more than 50 years old. With electricity demand in Canada expected to double by 2050, modernization of existing hydro assets is expected to play a critical role in ensuring future access to reliable and clean energy.

GE Vernova currently employs more than 2,000 people across Canada and supports customers nationwide with technologies related to power generation, transmission, storage, conversion, and grid orchestration.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company focused on power, electrification, and wind technologies, supported by accelerator businesses that help advance energy innovation. With more than 130 years of industrial experience, the company is working to support electrification and decarbonization efforts worldwide. Headquartered in Cambridge, Massachusetts, GE Vernova operates in approximately 100 countries and employs around 85,000 people globally.

About GE Vernova Hydro Power

GE Vernova’s Hydro Power division develops advanced hydropower technologies that help provide reliable electricity for major economies as well as remote and isolated communities around the world.

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