SANTIAGO, CHILE (July 12, 2024) — GE Vernova Inc. (NYSE: GEV) announced a significant order from Transelec Holdings Rentas Ltd, a premier provider of high-voltage systems in Chile, to supply synchronous condensers and a high-voltage substation for the Ana Maria and Monte Mina substation projects in Northern Chile. These initiatives are part of the Chilean Government’s strategy for “Voltage Control by Short Circuit Current Contribution,” aimed at supporting the country’s energy transition and decarbonization efforts.

A synchronous condenser, a large rotating generator, is designed to enhance voltage regulation, energy security, and grid stability. With the rise of wind and solar power in Northern Chile, these condensers are crucial for integrating renewable energy into the grid, providing the necessary inertia to prevent blackouts.

For these projects, GE Vernova’s Hydro Power division will deliver two synchronous condensers for each of the Ana Maria and Monte Mina sites. The scope of work includes engineering, auxiliary electrical and mechanical systems, control and protection systems, on-site assembly supervision, and commissioning. Additionally, GE Vernova’s Grid Solutions business will supply the 220 kV high-voltage substation, encompassing electrical engineering, transformers, GIS (Gas Insulated Substation), digital protection and control systems, testing, and commissioning. The project is expected to commence commercial operations by 2027.

“GE Vernova has long been dedicated to advancing the energy transition in Latin America, and the synchronous condenser is a pivotal technology for addressing grid challenges,” stated Frederic Ribieras, CEO of Hydro Power at GE Vernova. “With extensive experience from our large base of synchronous condensers, which share engineering similarities with hydroelectric generators, and our manufacturing capabilities in Taubaté, Brazil, we are well-equipped to meet these demands.”

Over the past seven years, GE Vernova has supplied seven synchronous condensers in Brazil. This order for Chile follows a similar project recently announced in the United States, where four GE Vernova synchronous condensers will enhance grid stability in upstate New York.

“GE Vernova’s high-voltage portfolio and flexible AC transmission systems are essential for supporting the energy transition and modernizing the grid,” said Johan Bindele, head of Grid Systems Integration at GE Vernova’s Grid Solutions business. “With nearly a century-long presence in Chile, GE Vernova actively supports the country’s energy transition with a broad range of advanced solutions.”

GE Vernova’s extensive global reach and scale are crucial for leading the shift to an electrified and decarbonized future. In Latin America, GE Vernova employs approximately 6,600 people, providing solutions like those for Transelec in Chile to create a more reliable and sustainable power system, thereby supporting community progress and prosperity.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company encompassing Power, Wind, and Electrification segments, supported by accelerator businesses. With over 130 years of experience, GE Vernova is positioned to lead the energy transition by electrifying the world while reducing carbon emissions. The company helps power economies and deliver vital electricity for health, safety, security, and improved quality of life. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people across over 100 countries. GE Vernova’s Hydro Power business delivers advanced technologies that harness water power for reliable energy. The Grid Solutions business provides technologies for power transmission and distribution, facilitating a secure and decarbonized energy transition.

The company’s name reflects its legacy: “GE” symbolizes its long-standing reputation for quality and innovation, while “Ver” (verdant) and “Nova” (new) highlight a commitment to sustainable and innovative energy solutions. Guided by its mission, “The Energy to Change the World,” GE Vernova aims to deliver a more affordable, reliable, sustainable, and secure energy future.

Forward-Looking Statements

This document contains forward-looking statements related to future events, addressing matters that are, to different degrees, uncertain. These statements often concern GE Vernova’s expected business performance, product impacts, service results, and include terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “estimate,” “target,” and others. Forward-looking statements address uncertainties such as planned transactions, investments, and their expected outcomes, as well as macroeconomic and market conditions impacting the Company’s operations, financial results, and global supply chain.

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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.

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LONDON (July 8, 2024) — GE Vernova’s Nuclear division, through GE Hitachi Nuclear Energy (GEH), has entered its bid in the Great British Nuclear’s (GBN) ongoing small modular reactor (SMR) selection competition, showcasing its BWRX-300 SMR technology.

This 10th-generation SMR design leverages decades of operational experience and innovation, featuring a standardized design, a proven delivery model, and GEH’s expertise in international regulatory collaboration. GEH, in partnership with Ontario Power Generation, is progressing with the first BWRX-300 at OPG’s Darlington site near Toronto. Site preparation is complete, with construction slated to begin in early 2025 and commercial operations expected by 2029. A total of four 300 MW units are planned for the Darlington site.

Andy Champ, GEH UK Country Leader, stated, “Our entry into this competition is backed by our proven international SMR technology, an operationally licensed fuel, and a manufacturable reactor design. The BWRX-300, derived from established boiling water reactor technology, is smaller and further simplified through innovation. This positions us uniquely to offer a high-value, reliable SMR solution. Alongside our strategic investment partners, we aim to support the UK Government in achieving its net zero target by 2050.”

Champ added, “With a robust and expanding team in the UK, we are confident that our SMR offers the lowest risk and highest reward for Great British Nuclear. We anticipate the competition’s outcome and the chance to contribute significantly to both Great British Nuclear’s goals and the new Government’s mission of making the UK a green energy superpower.”

GE Vernova has a substantial presence in the UK, with four manufacturing facilities and technology powering over 30 percent of the country’s electricity. GEH is committed to establishing a strong UK supply chain for the BWRX-300, demonstrated by a recent SMR supply chain conference in Sheffield attended by over 150 UK businesses. GEH is also collaborating with Sheffield Forgemasters on potential SMR projects and plans to announce further strategic partnerships soon.

In January 2024, GEH received a £33.6 million Future Nuclear Enabling Fund (FNEF) grant from the Department for Energy Security & Net Zero (DESNZ). This grant supported GEH’s initiation of the Generic Design Assessment (GDA) process for the BWRX-300.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company encompassing Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of experience in addressing global challenges, GE Vernova is leading the energy transition by electrifying the world while working to decarbonize it. The company’s technology helps power economies and deliver critical electricity for health, safety, security, and improved quality of life. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people in over 100 countries. Driven by the purpose “The Energy to Change the World,” GE Vernova aims to provide a more affordable, reliable, sustainable, and secure energy future.

Through its global alliance with Hitachi, GE Vernova’s Nuclear division is a leading provider of nuclear fuel bundles, services, and advanced reactor designs. Its technologies include boiling water reactors and SMRs like the BWRX-300, one of the simplest and most innovative boiling water reactor designs. GE Vernova’s nuclear fuel business, Global Nuclear Fuel (GNF), supplies boiling water reactor fuel and related engineering services. GNF operates mainly through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s name reflects its legacy, “GE,” a symbol of quality and ingenuity. “Ver”/“verde” signifies Earth’s lush ecosystems, while “Nova,” from Latin “novus,” denotes a new era of innovative, lower-carbon energy.

Forward-Looking Statements

This document includes forward-looking statements that address future events with inherent uncertainties. These statements often relate to GE Vernova’s expected business and financial performance, product performance, service impact, and anticipated outcomes, containing terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements involve varying degrees of uncertainty, addressing planned transactions, proposals, investments, projects, macroeconomic impacts, and market conditions on the Company’s operations and the global supply chain.

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• GE Vernova and Harbin Electric Equip Guangdong Huizhou CHP Plant with Advanced Hydrogen-Ready Technology
• Power Plant to Supply 1.34 GW to Grid and Steam for Industrial Processes
• Milestone for GE 9HA.01 Gas Turbine Manufactured in China

HUIZHOU, GUANGDONG PROVINCE, CHINA (July 2, 2024) – GE Vernova Inc. (NYSE: GEV) announced the successful commercial operation of the Guangdong Huizhou Combined Heat and Power (CHP) plant, powered by two GE Vernova hydrogen-ready 9HA.01 combined-cycle units. Operated by Guangdong Energy Group Co., Ltd., the plant is set to provide up to 1.34 gigawatts (GW) of electricity to the grid and steam for the chemical complex in Huizhou, near Hong Kong. These gas turbines are expected to use up to 10% hydrogen blended with natural gas within two years.

“Hydrogen energy is crucial for the future energy system in Guangdong Province,” said a representative from Guangdong Energy Group. “GE Vernova has been our preferred partner for transitioning from coal to natural gas. We trust their advanced H-Class gas turbines will promote hydrogen blending in power generation across China, supporting the nation’s hydrogen energy goals for 2021–2035.”

Currently, Guangdong Province relies heavily on gray hydrogen, produced from industrial byproducts and coal power. However, national and provincial plans encourage the development of renewable energy for hydrogen production.

“GE Vernova believes the Guangdong Huizhou project could serve as a model for hydrogen-blended H-class natural gas power generation across other provinces,” stated Xu Xin, President of GE Vernova China Gas Power Services. “In Guangdong, we aim to address growing electricity and steam needs while reducing carbon emissions. We are proud that the Huizhou plant is set to be the first in China to use GE Vernova’s hydrogen-blended natural gas turbines.”

GE Vernova has over 120 units worldwide that operate fully or partially on hydrogen, with more than 8.5 million operating hours accumulated.

The Guangdong Huizhou project marks the first local production of the 9HA.01 turbine by the General Harbin Electric Gas Turbine (Qinhuangdao) Co., Ltd. This joint venture between GE and Harbin Electric, established in 2019, focuses on localizing heavy-duty gas turbines to support China’s gas power plants, including those using hydrogen blends. Harbin Electric also provided steam turbines, generators, and other equipment for the power plant.

GE and Harbin Electric have long been suppliers for Guangdong Energy Group (GEG). GEG selected GE Vernova’s 9F.05 gas turbines for Xinhui Power Plant, operational since 2018, and is transitioning from coal to gas at its Dongguan Ningzhou plant, using three GE Vernova 9HA.02 turbines.

Operating in China for over 40 years, GE Vernova provides innovative products and services for power generation, supporting energy transition efforts. GE Vernova serves around 110 customers and operates over 240 gas turbines in China, with a total installed capacity of 50 gigawatts (GW).

Forward-Looking Statements

This document contains forward-looking statements regarding future events and performance. These statements often include words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” and similar expressions, addressing matters that are uncertain. Forward-looking statements may concern planned projects, investments, and their expected outcomes, and the impacts of macroeconomic conditions on business operations and financial results.

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 dedicated to leading the energy transition by electrifying the world while decarbonizing it. Headquartered in Cambridge, Massachusetts, GE Vernova employs over 75,000 people in 100+ countries, aiming to deliver affordable, reliable, sustainable, and secure energy. Its Gas Power business focuses on advanced, efficient gas-powered technologies and decarbonization solutions, leading the industry with around 7,000 gas turbines installed worldwide.

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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• 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

This document contains forward-looking statements regarding future events and performance. These statements often include terms such as “expect,” “anticipate,” “intend,” “plan,” “believe,” and similar expressions, addressing matters that are uncertain by nature. They cover planned projects, investments, and their anticipated outcomes, as well as the impacts of macroeconomic conditions on business operations and financial results.

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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New York’s Grid to Gain Stability with GE Vernova’s Synchronous Condensers

GE Vernova Inc. (NYSE: GEV) has been awarded a contract to supply and install synchronous condenser units and generator step-up (GSU) transformers for two key substations in upstate New York, a crucial step in strengthening the region’s power grid.

These synchronous condenser units will play a vital role in stabilizing the grid, essential for integrating renewable energy sources and advancing towards a low-carbon future. This project aligns with New York’s Climate Leadership and Community Protection Act (CLCPA), supporting the state’s ambitious decarbonization targets.

CAMBRIDGE, Mass. (June 26, 2024) – GE Vernova announced today that it will supply and construct two 115 kV synchronous condenser sites at National Grid’s Coffeen and Taylorville substations in upstate New York. The project includes installing three synchronous condenser machines with Prolec GE GSU transformers at each site, aimed at enhancing reactive power and voltage management.

These synchronous condensers are critical for maintaining the grid’s stability, preventing power outages, and ensuring efficient electricity flow. By boosting short-circuit strength, they will provide consistent and reliable power to homes and businesses, furthering New York’s transition to a low-carbon energy infrastructure.

“These projects are integral to New York’s CLCPA, aiming to cut carbon emissions by 85% from 1990 levels by 2050,” said Olivier Ruiz, Regional General Manager for Grid Systems Integration – NAM at GE Vernova. “The new substations will significantly enhance grid reliability, supporting the state’s ambitious climate goals.”

GE Vernova will oversee all aspects of the project, including engineering, project management, construction, equipment installation, and commissioning. The Coffeen site near Watertown, New York, is slated for completion by August 2028, with the Taylorville site following in March 2029.

“Supporting National Grid in this initiative is a significant honor for GE Vernova,” continued Olivier. “Our advanced technology will play a key role in making New York’s power grid more stable and reliable, crucial for integrating renewable energy sources and accelerating decarbonization.”

Forward-Looking Statements

This document contains forward-looking statements related to future events, including GE Vernova’s business and financial performance, product impact, and service results. These statements involve uncertainties, as they address planned transactions, investments, or projects and their expected outcomes, impacted by macroeconomic and market conditions and global supply chain dynamics.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy leader specializing in Power, Wind, and Electrification, supported by accelerator businesses. With over 130 years of innovation, GE Vernova is dedicated to electrifying the world while reducing carbon emissions. Headquartered in Cambridge, Massachusetts, the company employs around 75,000 people across more than 100 countries, striving to deliver affordable, reliable, sustainable, and secure energy. Learn more on GE Vernova’s website and LinkedIn.

GE Vernova’s Grid Solutions

GE Vernova’s Grid Solutions business delivers advanced grid technologies and systems, facilitating power transmission and distribution from generation to consumption, and supporting the energy transition towards a decarbonized and secure future.

About Prolec GE

Prolec GE, a joint venture between Xignux and GE, is a leading manufacturer in the electric industry across the Americas, known for quality and reliability for over 25 years. With six manufacturing facilities in Mexico, the United States, and Brazil, and products installed in over 35 countries, Prolec GE offers a comprehensive range of transformer solutions for utilities, co-ops, municipalities, renewable project developers, and original equipment manufacturers. Prolec GE is committed to providing exceptional customer experiences, superior quality products, and sustainable solutions to meet industry challenges.

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Record-Breaking Order for Taiba 1 and Qassim 1 Power Facilities in the Middle East

GE Vernova, Inc. (NYSE: GEV), a leader in energy technology, has secured its largest single order to date in the Middle East and Africa for its 7HA.03 gas turbines. The order includes six 7HA.03 units and two 7E.03 gas turbines for the Taiba 1 and Qassim 1 power plants in Saudi Arabia, along with a 21-year maintenance services agreement to ensure optimal plant operations.

The Taiba 1 and Qassim 1 plants are anticipated to be among the most efficient power facilities in Saudi Arabia, collectively contributing up to 3.8 gigawatts of electricity—enough to power approximately 1.2 million homes. These projects align with Saudi Arabia’s vision to generate half its electricity from renewable sources and half from gas by 2030, supporting the Kingdom’s goal of achieving net-zero greenhouse gas emissions by 2060.

GE Saudi Advanced Turbines (GESAT) will locally manufacture four of the H-class gas turbines for these plants, marking the first time 7HA.03 units will be completed in Saudi Arabia.

GE Vernova’s order from SEPCOIII Electric Power Construction Co., Ltd. (SEPCOIII), for the Taiba 1 and Qassim 1 power plants, was recorded in March 2024 and reflected in the company’s first-quarter earnings announcement. GE Vernova also signed a 21-year service agreement with ACWA Power’s subsidiary, National Operations & Maintenance Company (NOMAC), to support plant operations.

These new power plants are expected to commence operations in 2027, featuring GE Vernova’s advanced gas turbines that can potentially be equipped with carbon capture systems to reduce CO2 emissions significantly. The 7HA.03 turbines are also capable of burning up to 50% hydrogen when mixed with natural gas, providing a flexible solution for lower-carbon power generation.

“This significant project underscores our commitment to supporting Saudi Arabia’s energy transition,” said Joseph Anis, President & CEO of GE Vernova’s Gas Power business in Europe, Middle East & Africa. “We are proud to develop our first 7HA.03 project locally at GESAT, enhancing the localization of the gas turbine industry in Saudi Arabia in line with the Kingdom’s diversification and sustainability goals.”

GE Vernova’s service contract with NOMAC includes comprehensive maintenance and repair services, part supply, and real-time monitoring and diagnostics through GE’s advanced digital analytics technology. This collaboration aims to ensure the efficient and reliable operation of the Taiba 1 and Qassim 1 plants.

“Collaborating with GE Vernova allows us to deliver innovative energy solutions to the Kingdom,” said Marco Arcelli, CEO of ACWA Power. “This milestone contract sets the stage for future projects focused on safe, reliable, and sustainable electricity production in Saudi Arabia.”

GE Vernova, which began trading as an independent company on the NYSE in April 2024, plays a crucial role in the global energy transition. With over 55,000 wind turbines and 7,000 gas turbines, GE Vernova helps generate about 25% of the world’s electricity.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company encompassing Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of experience, GE Vernova is dedicated to electrifying the world while decarbonizing it. Headquartered in Cambridge, Massachusetts, GE Vernova employs over 75,000 people in more than 100 countries. The company’s mission, “The Energy to Change the World,” aims to deliver affordable, reliable, sustainable, and secure energy. GE Vernova’s Gas Power business leads in advanced gas turbine technologies and services, driving the transition to a lower-carbon future.

About GE Vernova’s Mission

The name GE Vernova symbolizes the company’s commitment to energy transition, retaining the legacy “GE” and integrating “Ver” for Earth’s lush ecosystems and “Nova” for new, innovative energy solutions.

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Vattenfall, a leading European energy company, has narrowed down the potential suppliers for new nuclear reactors at its Ringhals site in Sweden. After evaluating six companies offering small modular reactors (SMRs), Vattenfall has shortlisted British Rolls-Royce SMR and American GE Hitachi Nuclear Energy for further consideration.

Simultaneously, the company is also exploring the feasibility of constructing large-scale reactors at the same location. This dual approach demonstrates Vattenfall’s commitment to exploring all viable options for expanding nuclear power generation in Sweden.

“This selection of two potential SMR suppliers marks a crucial step in our journey towards establishing new nuclear power at Ringhals,” explained Desirée Comstedt, Vattenfall’s Head of new nuclear power. “It allows us to accelerate our efforts, including the submission of necessary applications to Swedish regulatory bodies.”

The upcoming phase involves a detailed assessment of the proposals submitted by the two shortlisted SMR vendors. This will be followed by the collaborative development of a timeline for the potential construction of these small modular reactors on the Värö Peninsula.

In parallel, Vattenfall will continue to analyze the viability of building large-scale reactors. American Westinghouse, French EDF, and South Korean KHNP are currently under consideration as potential suppliers for this option.

“We remain open to both SMR and large-scale reactor technologies,” Comstedt added. “A final decision will depend on various factors, including a risk-sharing model with the Swedish government to ensure affordable electricity production for consumers.”

Vattenfall aims to have the new reactor, regardless of its type, operational by the early 2030s. This ambitious timeline reflects the company’s dedication to meeting the growing demand for clean and reliable energy in Sweden.

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A major step forward in the expansion of the Netherlands’ offshore wind capacity has been announced today. GE Vernova and Seatrium Limited, a leading engineering solutions provider, have been awarded their third contract by TenneT TSO B.V. (TenneT) to construct a state-of-the-art 2-gigawatt (GW) High Voltage Direct Current (HVDC) transmission system.

The new system, slated for completion by 2031, will be pivotal in connecting the Nederwiek 2 offshore wind farm to the mainland grid. This project marks another milestone in TenneT’s ambitious goal of harnessing 40 GW of offshore wind energy in the North Sea, a move that is expected to significantly bolster the region’s renewable energy capabilities.

This contract is the latest in a series of collaborations between the two companies and TenneT, under a five-year framework agreement established in March 2023. This ongoing partnership has already seen the successful award and initiation of two similar projects: IJmuiden Ver Beta and IJmuiden Ver Gamma.

“TenneT is leading the charge in Europe’s transition to renewable energy,” said Johan Bindele, Head of Grid Systems Integration at GE Vernova’s Grid Solutions business. “We’re proud to provide our advanced HVDC technology to support their vital work, and we see this as a significant contribution to global decarbonization efforts.”

Samuel Wong, Executive Vice President of Fixed Platforms at Seatrium, echoed this sentiment. “We’re excited to continue our collaboration with TenneT and GE Vernova,” he said. “This project aligns perfectly with our commitment to innovative, sustainable solutions that drive the energy transition forward.”

With GE Vernova’s Grid Solutions leading the engineering and construction of the HVDC converter stations, and Seatrium taking charge of the offshore converter platform, this project promises to be a testament to the power of industry collaboration in achieving ambitious sustainability goals.

About TenneT

TenneT is a premier European transmission system operator dedicated to ensuring a secure and reliable supply of electricity around the clock, all year round. We play a pivotal role in the energy transition, striving for a future where energy is more sustainable, reliable, and affordable than ever. As the first cross-border Transmission System Operator (TSO), we design, build, maintain, and operate over 25,000 kilometers of high-voltage electricity grid across the Netherlands and significant parts of Germany. We also facilitate the European energy market with our 17 interconnectors linking neighboring countries. With a turnover of EUR 9.2 billion and assets totaling EUR 45 billion, we are one of the largest investors in both national and international electricity grids, onshore and offshore. Our 8,300 employees are committed to maintaining the balance between electricity supply and demand for over 43 million people daily, demonstrating ownership, courage, and connection.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a specialized global energy company encompassing Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of experience in addressing global challenges, GE Vernova is uniquely positioned to lead the energy transition by continuing to electrify the world while working towards decarbonization. GE Vernova supports its customers in powering economies and delivering electricity vital for health, safety, security, and quality of life improvements. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova employs approximately 75,000 people across more than 100 countries. Driven by its mission, “The Energy to Change the World,” GE Vernova’s technology aims to provide a more affordable, reliable, sustainable, and secure energy future. Learn more about GE Vernova on their website and LinkedIn.

GE Vernova’s Grid Solutions division powers the world with advanced grid technologies and systems, enabling efficient transmission and distribution of electricity from generation to consumption points, thus supporting a secure and decarbonized energy transition.

About Seatrium Limited

Seatrium Limited offers innovative engineering solutions to the global offshore, marine, and energy sectors. Headquartered in Singapore, Seatrium boasts over 60 years of experience in designing and constructing rigs, floaters, offshore platforms, and specialized vessels, alongside the repair, upgrading, and conversion of various ship types.

The Group’s core business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with an increasing emphasis on sustainable solutions to promote global energy transition and maritime decarbonization.

As a leading global provider of offshore renewables, new energy solutions, and cleaner offshore & marine options, Seatrium is committed to high standards of safety, quality, and performance. Their clients include major energy companies, vessel owners and operators, shipping companies, and cruise and ferry operators. Seatrium operates shipyards, engineering and technology centers, and facilities in Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, the UAE, the UK, and the US.

Forward-Looking Statements

This announcement contains statements that may be considered forward-looking, relating to future events and outcomes that involve a degree of uncertainty. These statements include projections about the expected business and financial performance of GE Vernova and TenneT TSO B.V., as well as the anticipated performance and impact of their products and services.

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GE Vernova to Provide Cutting-Edge FLEXINVERTER™ Technology and Engineering Expertise for Kalyon PV’s Viranşehir Solar Project

Ankara, Turkey (May 28, 2024) – GE Vernova Inc. (NYSE: GEV) has officially signed an agreement with Kalyon PV to deliver its advanced FLEXINVERTER™ solar power station technology along with design and engineering services for Kalyon PV’s solar project in Viranşehir, Turkey. Inogen, GE Vernova’s regional partner, will oversee the construction and installation of the solar power station.

The integration of GE Vernova’s FLEXINVERTER™ technology is poised to achieve a total solar power capacity of 2.5 GWp/1.9 GWe across various projects in Turkey, both completed and in progress.

GE Vernova’s solar power station will energize Kalyon Enerji’s 157 MW solar PV factory, enabling Kalyon Enerji to become one of Turkey’s first companies to produce solar panels using 100% renewable electricity upon completion.

“We are proud to be at the forefront of Turkey’s clean energy transition. By investing in solar panel production and supplying these panels to large-scale solar plants, we are not only offering sustainable energy solutions but also creating jobs and enhancing Turkey’s energy self-sufficiency,” stated Dr. Murtaza Ata, Board Member of Kalyon PV.

“Having successfully executed several YEKA projects in Turkey, we are now targeting industries looking to generate their own power on a large scale through PV projects like Kalyon PV’s solar plant in Viranşehir and renewable hybrid projects, including large-scale storage. We offer extensive financing support, including backing from export credit agencies, to provide competitive financing options and facilitate the adoption of renewable energy technologies,” said Megi Gabriyel, Region Leader Solar & Storage Solutions, Middle East, Africa & Turkey at GE Vernova.

GE Vernova’s FLEXINVERTER™ technology, with a combined capacity of 2.5 GWp/1.9 GWe, is instrumental in advancing Turkey’s solar industry.

“Our partnership with GE Vernova ensures smooth coordination of supply chain and field activities, tackling key project execution challenges. Our skilled teams, consisting of over a thousand employees, will provide ongoing support to ensure efficient installation and operation of the Viranşehir power plant,” added Ali Murat Soydan, Assoc. Prof. Dr., Chairman of Inogen Group.

This partnership builds on the success of Kalyon Enerji’s 1,347 MWp/1,000 MWe Karapinar solar power plant in Konya Karapinar, which utilized GE Vernova’s FLEXINVERTER™ technology. Commissioned in 2023, the Karapinar facility is Turkey’s largest single-source solar power project to date, part of the initial Turkish solar YEKA GES tender initiated in 2017 by the Turkish Ministry of Energy.

Turkey’s rapid renewable energy sector growth, driven by increasing electricity demand and a commitment to carbon reduction, places solar power at the center of this expansion. According to the International Energy Agency (IEA), Turkey plans to add 10 GW of solar capacity between 2017 and 2027, with projections showing a substantial increase to 52.9 GW by 2035.

Moreover, GE Vernova is well-positioned to deploy its FLEXRESERVOIR™ Battery Energy Storage Solution alongside financing to support Turkey’s next phase of renewable energy projects.

GE Vernova’s Solar and Storage Solutions portfolio includes FLEXINVERTER™, FLEXRESERVOIR™, and FLEXIQ™ technologies. The FLEXINVERTER™ solar power station is an integrated containerized solution that combines a solar inverter, medium voltage power transformer, and optional MV Ring Main Unit, all housed in a standard 20-foot ISO high cube container. FLEXRESERVOIR™ is a system-integrated battery energy storage and power electronics solution for various configurations and market applications. FLEXIQ™ is a digital platform offering design, operation, and fleet management solutions to ensure grid compliance and maximize customer value. These solutions reduce capital and operating costs, enhancing plant performance reliability.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company comprising Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of experience addressing global challenges, GE Vernova is positioned to lead the energy transition by electrifying the world while working to decarbonize it. GE Vernova aids customers in powering economies and delivering essential electricity for health, safety, security, and quality of life. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova employs over 80,000 people across more than 100 countries. The company’s mission, “The Energy to Change the World,” drives its efforts to provide a more affordable, reliable, sustainable, and secure energy future. Learn more on GE Vernova’s website and LinkedIn.

GE Vernova’s Solar & Storage Solutions business offers technologies in solar energy, battery energy storage, and power plant controls to deliver reliable renewable energy solutions and support the transition to a cleaner energy future.

About Kalyon Enerji

“We generate clean energy for a self-sufficient world. Guided by sustainability principles and development goals, we are dedicated to continuous improvement and impact investments.”

Kalyon Enerji, originating from Kalyon İnşaat, the leading company under Kalyon Holding, emerged during the execution of the 1,350 MWp Karapınar YEKA GES-1 project and 1,000 MW YEKA RES-1 project. The tenders for these projects were conducted in 2016, with contracts signed in 2017. The company reached its current structure in 2022 after International Holding Company (IHC) from the UAE acquired 50% of the shares.

By addressing Turkey’s and the world’s rising energy demands with a sustainability vision, aligning with national and global targets, we make significant impact investments in clean energy, playing a crucial role in combating climate change.

Our top priority is making energy accessible to everyone, including disadvantaged groups, using clean and renewable sources. We focus our investments on solar and wind power plants and energy storage facilities to make renewable energy widespread and integral to daily life.

We are excited to introduce GridBeats, our portfolio of innovative software-defined automation solutions designed for grid digitalization. It includes:

GridBeats: Zonal Autonomous Control allows utilities to split grid networks into autonomous zones for enhanced resilience and reliability when disruptions occur.

• GridBeats: EnergyAPM reduces downtime and maintenance costs through predictive and prescriptive diagnostics of primary assets.
• GridBeats: Remote Device Management Increases visibility across large fleets of assets to provide increased system reliability and reduced Operation & Maintenance costs.
• GridBeats: Integrated Digital Substation allows flexibility, faster deployment, increased reliability through top-down engineering tools, centralized control and protection and wide-area applications.
• GridBeats: Network Management System enables you to discover, monitor and act on your multi-vendor communication network, to improve device utilization and increase system uptime.

We believe that GridBeats reaffirms GE Vernova’s dedication to providing innovative solutions that meet the grid’s changing needs. Watch Nicolas Gibergues and Claudia Cosoreanu, Grid Automation CEO and CTO, introducing and explaining the new portfolio.

Short Intro Video

GridBeats Porfolio Presentation

TiAC Summit
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Earlier this year, the inaugural Transmission Innovation Advisory Council (TiAC) summit took place in Montpellier, France. It brought together some of our transmission utilities customers from around the world to engage in thoughtful discussion on the key problems that need solving.

A whole range of subjects were covered, including the need for innovative solutions and the key role of data and digitization. A virtual regroup took place in April to further work on the top 5 innovative ideas identified during the first session. A further in-person event is scheduled for later this year. See what customers had to say in this short video.

TiAC highlights

Hear customer’s views

2 April 2024 — GE Vernova

Following GE Healthcare last year, the “old” GE has now been split into 3 separate independent companies, all quoted on the New York Stock Exchange. April 2nd was the day when GE Vernova and GE Aerospace started life as separate companies. Our “opening” day.

To mark this memorable event, the following TV commercial was run in the USA on the opening day of the baseball season:

Watch the GE commercial for US TV
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CEI 0-16 Certification
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With the growing number of distributed generation sources connected to the grid (and renewable energy sources such as photovoltaic and wind power in particular), it has become important that each of these power generating sources be controlled and contribute to the stability of the grid.

Italy has adopted standard CEI 0-16 applicable to active and passive users connected to the distribution system. It was commissioned by the Energy Authority in Italy, ARERA, to regulate relations between the distribution company (DSO) and those who have an electricity producing source connected to the public MV or HV grid. It relates to both to the General Protection System (SPG) and to the Interface Protection System (SPI).

We are pleased to announce that our P40 Agile Enhanced range of products has now received CEI 0-16 certification.­

­P14N Certificate

P14D Certificate

P94V Certificate

Training the Next Generation
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The CIGRE UK Next Generation Network group recently conducted a training day on “Substation Fundamentals: Secondary Systems”. The event, hosted at GE Vernova’s offices in Stafford, was a full-day affair packed with insightful content (based on the CIGRE B3 Substation Green Book) and an exclusive tour.

While this was an opportunity for attendees to learn from experts and discuss real-world challenges with like-minded professionals, it was also a testament to CIGRE UK’s commitment to continuous learning and development within the energy sector.

The training material presented can be downloaded from the CIGRE site using the links below. We extend our thanks to all the attendees and to Ryan Murphy, John Finn and John Wright for the organization and lectures.
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Module 1: Auxiliary Systems, Protection, Metering and Monitoring

Module 2: Control, Communications, Physical & Cyber Security
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Industry Events
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We were once again present at DistribuTech 2024, one of the key annual industry events for Transmission and Distribution held this year in Orlando, Florida, USA. With over 17,400 attendees, this was a great opportunity to launch “GridBeats”.

We were also present at DPSP 2024, the International Conference on Developments in Power System Protection, in Manchester, UK. Two key topics of discussion were the inverter-based resources and power system stability.
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PAC for Schiphol Airport
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Schiphol airport has started a program to become one of the most sustainable airports in the world. One of the program’s key pillars is the electrification of the airport buildings and transport vehicles. To achieve this, Schiphol needs to move its connection from the 50kV DSO grid to the 150kV TSO grid and so must build their own new 150kV substation.

For this project GE Nederland has received an order for a 150kV/20kV Gas Insulated Substation (GIS) and for its Protection & Control System. For PAC, this includes the delivery of a GPG Control System with gateway to the Control Center together with MiCOM 5th generation and 8-series IED’s.

The project has just started and the commissioning is foreseen to start early 2026. As 150kV is quite a step up for Schiphol Airport, we see a high chance for delivering additional Engineering & Consultancy services regarding load flow, short circuit and settings calculations.

Schiphol Airport is a new customer with a high potential for future projects (green & brown field) and perfectly fitting into our goal to increase our presence in the electrification of the industrial segment.

Well done Team NL and Jacques van Ammers for providing the information.

ANADARKO, Okla. (May 16, 2024) – Western Farmers Electric Cooperative (WFEC) and GE Vernova Inc. (NYSE: GEV) have announced the order for two new GE Vernova LM6000VELOX* aeroderivative package solutions. Each package includes an LM6000* gas turbine and a generator, intended to replace aging steam turbines at WFEC’s Anadarko Plant in Oklahoma. The expansion will build upon the existing five LM6000 PC gas turbines (two commissioned in 1999 and three in 2009). Upon completion, the plant’s capacity is expected to reach 350 megawatts (MW) with a total of seven LM6000 gas turbines.

Statements and Technology Benefits

Justin Soderberg of WFEC stated, “We continually assess our capacity needs, focusing on both current and future power demands of our members. We are dedicated to ensuring a reliable electricity supply well into the future.” He emphasized the selection of GE Vernova’s LM6000VELOX units for their fast start and quick ramp-up/down capabilities, which are crucial for maintaining grid stability amidst the growth of renewable energy sources.

Aeroderivative units, derived from jet-engine technology, are noted for their rapid start times, reaching full power in as little as 5 minutes. These units will complement WFEC’s portfolio of nearly 1,000 MW of renewable energy projects already in service or planned by the decade’s end.

Project Collaboration

WFEC has collaborated with Sargent & Lundy (S&L), based in Chicago, as the owner’s engineer for the plant expansion. S&L assisted WFEC in selecting the appropriate technology and developing turbine specifications. Fagen, Inc. has been appointed as the EPC Contractor, with work set to commence in late 2024 and complete by late 2026.

Background Information

Western Farmers Electric Cooperative (WFEC): Headquartered in Anadarko, Okla., WFEC serves 21-member distribution cooperatives across Oklahoma, eastern New Mexico, and parts of Kansas and Texas, including Altus Air Force Base. Operating for 83 years, WFEC boasts a diverse generation portfolio including coal, natural gas, hydroelectric power, wind, and solar.

Sargent & Lundy: Established in 1891, this full-service architect engineering firm is a global leader in power, energy, and decarbonization. S&L provides comprehensive project services with an emphasis on quality and safety, serving clients in various sectors.

GE Vernova (NYSE: GEV): A global energy company with Power, Wind, and Electrification segments, GE Vernova leverages over 130 years of experience to lead the energy transition, aiming to electrify and decarbonize the world. With more than 80,000 employees across 100+ countries, the company’s Gas Power business is a leader in gas turbine technology and services.

Fagen, Inc.: Headquartered in Granite Falls, Minn., Fagen, Inc. is a full-service EPC contractor providing a range of construction services. With a substantial workforce, Fagen, Inc. aims to be the most admired construction company by delivering exceptional projects and performance.

*Trademarks of GE Vernova and/or its affiliates

*The order for the gas turbine power generation equipment for the Anadarko project was booked in Q1 2024

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GE Vernova’s Nuclear Fuel Rods to be Evaluated at Oak Ridge National Laboratory

**WILMINGTON, N.C. (May 9, 2024)** – High burnup fuel rods produced by GE Vernova’s Nuclear Fuel business, Global Nuclear Fuel (GNF), have been delivered to the U.S. Department of Energy’s (DOE) Oak Ridge National Laboratory (ORNL) for post-commercial operation examination. These rods have successfully completed three full cycles of operation at a U.S. nuclear power plant.

Mike Chilton, Executive Vice President of GNF, stated, “This shipment represents another milestone in our pursuit to develop the next generation of safer and more reliable fuel. We are proud to collaborate with Oak Ridge National Laboratory and the U.S. Department of Energy to benefit the entire industry.”

Frank Goldner, a nuclear engineer in DOE’s Office of Nuclear Energy, remarked, “This shipment to Oak Ridge National Laboratory is crucial in GNF’s efforts to commercialize high burnup fuel. Such fuels are expected to enhance the performance of today’s reactors and aid in achieving net-zero emissions by 2050.”

Manufactured at GNF’s Wilmington, NC facility, these fuel rods will undergo evaluation to provide valuable insights into high burnup fuel, a key objective of DOE’s Accident Tolerant Fuel (ATF) program. High burnup fuel is anticipated to improve nuclear safety by allowing fuel to remain in the reactor core longer before removal for long-term storage. This can enhance fuel cycle economics and support power uprates. The post-irradiation examinations at ORNL will support GNF’s development, engineering, and licensing efforts to ensure safe and reliable fuel performance under extended operating conditions.

About GE Vernova

GE Vernova is a planned global energy company encompassing Power, Wind, and Electrification businesses, supported by its Advanced Research, Consulting Services, and Financial Services accelerators. With over 130 years of experience, GE Vernova is uniquely positioned to lead the energy transition by electrifying the world and simultaneously working to decarbonize it. Headquartered in Cambridge, Massachusetts, GE Vernova employs over 80,000 people across more than 100 countries.

GE Vernova’s Nuclear energy business, in alliance with Hitachi, is a leading provider of nuclear fuel bundles, services, and advanced reactor designs. Technologies include boiling water reactors and small modular reactors, such as the innovative BWRX-300. GNF, a GE Vernova-led joint venture with Hitachi, Ltd., supplies boiling water reactor fuel and related engineering services. GNF operates through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s mission reflects its legacy of quality and ingenuity (“GE”), its commitment to the environment (“Ver” / “verde”), and its innovative approach to low-carbon energy (“Nova”). Supported by the Company Purpose, The Energy to Change the World, GE Vernova aims to deliver an affordable, reliable, sustainable, and secure energy future.

Forward-Looking Statements

This document contains forward-looking statements related to future events, including GE Vernova’s expected business and financial performance, product performance, and service impacts. These statements often include words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “would,” “estimate,” and “forecast,” indicating varying degrees of uncertainty. Forward-looking statements address future business operations, financial results, and macroeconomic impacts, reflecting the inherent uncertainty in predicting future outcomes.

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Changua County, TAIWAN | May 7, 2024

GE Vernova’s Grid Solutions, in partnership with TECO Electric and Machinery Co., has marked a significant milestone with the groundbreaking ceremony for the ZhangGong Step-up Substation and the YongXing Switchyard in central Taiwan’s Changhua County. These crucial infrastructural developments, owned by Taiwan Power Company, will be equipped with two units of GE Vernova’s cutting-edge ±200 Mvar STATCOM (Static Synchronous Compensator) systems, a result of a deal closed between GE Vernova and TECO earlier this year.

The collaboration between GE Vernova and TECO aims to fortify Taiwan’s power grid by leveraging advanced STATCOM technology. The deployment of these STATCOM systems at the substations, interconnected via a 161 kV transmission line, is poised to facilitate the seamless integration of renewable energy sources into the region’s power network, while simultaneously bolstering grid stability.

Changhua County, renowned for its diverse renewable energy projects including solar, wind, and hydro power, stands to benefit greatly from this initiative. As Taiwan increasingly embraces renewable energy, STATCOM systems are expected to play a pivotal role in maintaining the stability and reliability of the power grid.

Mr. Pin Chang, President of TECO’s Intelligence Energy Business Group, expressed confidence in the collaboration, stating, “Through its collaboration with GE Vernova, TECO can enhance Taiwan’s renewable power grid and ensure a more stable electricity supply.”

Shailesh Mishra, Regional Leader for GE Vernova’s Grid System Integration business in Asia Pacific, echoed these sentiments, emphasizing the significance of the project in advancing Taiwan’s renewable energy goals. He remarked, “We are honored to contribute to Taiwan’s renewable energy goals through the deployment of our advanced STATCOM technology. This collaboration with TECO underscores our commitment to sustainable energy solutions that drive positive change on a global scale.”

STATCOM technology plays a vital role in stabilizing power grids, particularly in regions with a significant reliance on renewable energy sources such as solar and wind power. By regulating voltage and reactive power, STATCOM systems ensure the grid’s reliability and efficiency, mitigating voltage fluctuations and enhancing overall grid performance.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company committed to leading the energy transition. With a focus on electrification and decarbonization, GE Vernova delivers innovative solutions to power economies and improve quality of life. GE Vernova’s Grid Solutions business electrifies the world with advanced grid technologies and systems, supporting a sustainable energy transition.

About TECO

TECO Electric & Machinery Co., Ltd., founded in 1956, is a leading global manufacturer with diverse interests spanning heavy electric equipment, home appliances, information technology, and renewable energy. TECO’s vision centers on energy conservation, emissions reduction, intelligence, and automation, driving sustainable solutions for a greener future.

About TECO Intelligence Energy Business Group

TECO’s Intelligence Energy Business Group focuses on developing intelligent systems for energy harvesting, storage, and management, with a focus on solar energy, energy storage, and offshore wind power sectors, driving sustainable energy solutions for a brighter tomorrow.
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Dubai, UAE (May 6, 2024) – GE Vernova’s Gas Power business (NYSE: GEV) held its annual ‘Power Supplier Partnership Summit’ in Dubai, UAE, gathering over 200 representatives from 135 organizations across Europe, the Middle East, Africa, and beyond, both in person and virtually.

The summit included presentations, case studies, interactive discussions, and one-on-one meetings between senior representatives from GE Vernova and participating organizations. The event addressed themes such as safety, quality, power sector trends, challenges, opportunities, and strategies for bridging supply chain gaps to decarbonize the region’s energy system while meeting growing demand.

GE Vernova recognized several organizations with ‘Supplier Partnership Awards’ for excellence in safety, quality, on-time delivery, competitiveness, and overall partnership. Awardees included suppliers from Algeria, Iraq, Libya, and the UAE.

Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East & Africa (EMEA), stated, “As we work towards accelerating the energy sector’s transition to net zero, we acknowledge that collaboration is essential. Strengthening our network of diverse suppliers is crucial to maintaining operational agility and delivering high-quality solutions reliably and on time. Events like this summit help nurture the regional supply chain and support national industrialization and economic diversification goals, creating shared value in the power sector.”

GE Vernova, which spun off from GE and began trading independently on the New York Stock Exchange (NYSE) on April 2, 2024, has a significant role in the energy transition. The company’s technology base, including approximately 55,000 wind turbines and 7,000 gas turbines, helps generate about 30% of the world’s electricity.

With a presence in the Middle East spanning nearly 90 years, GE Vernova has contributed to the development of the energy sector through power generation, transmission, distribution, and digital solutions. Key investments in the GCC include the GE Manufacturing and Technology Center in Saudi Arabia, the GE Kuwait Technology Center, and the Jebel Ali Service Center in the UAE.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company encompassing Power, Wind, and Electrification segments, supported by its accelerators. With over 130 years of experience, GE Vernova is positioned to lead the energy transition by electrifying the world while decarbonizing it. Headquartered in Cambridge, Massachusetts, GE Vernova employs over 80,000 people across more than 100 countries. The company’s mission, “The Energy to Change the World,” focuses on delivering affordable, reliable, sustainable, and secure energy.

GE Vernova’s name reflects its legacy of quality and ingenuity (“GE”), Earth’s verdant ecosystems (“Ver”/”verde”), and a new era of lower-carbon energy (“Nova” from Latin “novus”).

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Sixteen GE Vernova LM6000VELOX Units to Power TVA’s Kingston Energy Complex

ATLANTA, Ga. (May 6, 2024) – GE Vernova Inc. (NYSE: GEV) has announced a major order for 16 of its LM6000VELOX aeroderivative gas turbine packages, each comprising an LM6000 gas turbine and a generator. These units will be installed at the Tennessee Valley Authority (TVA)’s Kingston Energy Complex near Kingston, Tennessee. The project aims to provide up to 850 megawatts of flexible, reliable electricity to enhance the stability of the regional energy grid.

TVA’s Chief Operating Officer, Don Moul, commented, “The Kingston Energy Complex exemplifies our strategy of integrating diverse generation sources to provide reliable, resilient, and affordable power. These aeroderivative units will meet peak demand and support solar generation when sunlight is limited.”

Scheduled to begin operations in 2028, the LM6000VELOX packages feature dual-fuel capability, allowing them to run on natural gas or liquid fuels. The DLE (dry low emissions) combustor design ensures compliance with stringent environmental regulations without requiring water for NOx emissions control.

TVA has already achieved a 57% reduction in emissions from 2005 levels, with nearly 60% of its energy coming from carbon-free sources such as nuclear, hydropower, storage, and solar. Dave Ross, President of GE Vernova’s Gas Power in the Americas region, stated, “This project underscores our commitment to supporting TVA’s mission to provide affordable, reliable electricity while advancing efficient and sustainable energy generation.”

The LM6000 gas turbines are renowned for their quick start times, reaching full power in as little as five minutes. Their high cyclic life and operational flexibility make them ideal for complementing renewable energy sources and stabilizing the grid.

Derived from jet-engine technology, the LM6000 turbines boast over 40 million operating hours and an installed base of nearly 1,300 units in about 60 countries. With a start and operational reliability of over 99% and availability of more than 98%, these turbines are leaders in their class.

The LM6000VELOX package, introduced in October 2023, is designed to reduce site construction time and costs for power generation utilities and EPCs.

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 addressing global challenges, GE Vernova is at the forefront of the energy transition, focusing on electrification and decarbonization. Headquartered in Cambridge, Massachusetts, GE Vernova employs over 80,000 people across more than 100 countries. The company’s mission, “The Energy to Change the World,” drives its commitment to delivering affordable, reliable, sustainable, and secure energy.

GE Vernova’s Gas Power business specializes in advanced, efficient natural gas-powered technologies and services, offering decarbonization solutions to support a lower-carbon future. As a global leader in gas turbines and gas power plant technologies, it boasts the industry’s largest installed base of approximately 7,000 gas turbines.

Forward-Looking Statements

This document contains forward-looking statements, which address future events and expectations related to GE Vernova’s business and financial performance. These statements often include terms such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “estimate,” “forecast,” “target,” and “range.” Forward-looking statements inherently involve uncertainties, including those regarding planned and potential transactions, investments, projects, and the impacts of macroeconomic and market conditions on the company’s operations, financial results, and global supply chain.

GE Vernova’s mission is embedded in its name – “GE” reflects its legacy of quality and ingenuity, while “Ver” / “verde” symbolizes the Earth’s lush ecosystems, and “Nova” from Latin “novus” signifies a new, innovative era of low-carbon energy.

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Cambridge, Mass. – May 2, 2024 – GE Vernova (NYSE: GEV), a global leader in energy solutions, introduces Autonomous Inspection, a cloud-based software program leveraging AI and machine learning (ML) to automate manual industrial asset inspections.

Transforming Inspections with Automation

Autonomous Inspection integrates with GE Vernova’s Asset Performance Management (APM) suite, empowering faster, safer, and more cost-effective inspections across various industries. Designed for industry-agnostic use, it equips users with visual data and insights to optimize asset performance and operations.

Linda Rae, General Manager of GE Vernova’s Power & Energy Resources Software business, highlights the significance of this innovation: “Autonomous Inspection is the cornerstone of our APM suite, leveraging AI to transform how we safeguard, optimize, and propel the future of energy.”

Addressing Challenges in Traditional Inspections

Traditional inspection methods are often plagued by limitations:

• Resource-intensive: Manual inspections require significant manpower and time.
• Safety risks: Inspecting elevated heights or near hazardous equipment poses safety threats.
• Scalability limitations: Manual processes struggle to adapt to the growing number of assets.
• Data inaccessibility: Valuable inspection data remains siloed and inaccessible for informed decision-making.
• Autonomous Inspection: A Catalyst for Change

This novel solution addresses these challenges by:

• Boosting operational excellence: Automation streamlines inspection workflows, leading to significant time savings. (e.g., a major oil and gas company reduced inspection review time by over 90% using Autonomous Inspection in a pilot).
• Enhancing safety and compliance: AI-powered inspections can be conducted remotely, minimizing worker exposure to risks.
• Empowering performance: Early defect detection and faster issue resolution lead to improved asset uptime and performance.
• Facilitating digital transformation: Autonomous Inspection integrates seamlessly with existing digital infrastructure, accelerating progress towards digitalization goals.
• Benefits Beyond Energy Generation

This solution extends its value beyond the energy sector. The software’s ability to automate inspection workflows and analyze data using computer vision makes it applicable across various industries.

GE Vernova’s Commitment to a Sustainable Future

Autonomous Inspection offers a compelling solution for geographically dispersed assets like solar and wind farms, traditionally difficult to inspect manually. This technology aligns with GE Vernova’s commitment to a sustainable future by:

Optimizing energy production: Improved asset performance translates to more efficient energy generation.
Supporting energy transition: The software empowers the integration of renewable energy sources.
GE Vernova: Powering a More Sustainable and Efficient Future

GE Vernova remains at the forefront of innovation, offering solutions that leverage AI and machine learning to optimize asset management and accelerate progress towards a cleaner and more sustainable energy future.

* These results were achieved by a pilot customer. Actual results for other customers may vary.
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Photo caption
BWXT joins GEH’s group of qualified suppliers
From left to right:
Darion Geralds, director of procurement at GEH;
Jay Willeman, President and CEO of GEH;
John McQuarrie, President of Commercial Operations, BWXT;
Kimberly Perry, Head of Nuclear Supply Chain at GEH.

WILMINGTON, N.C. (April 29, 2024) – GE Vernova’s Nuclear business, GE Hitachi Nuclear Energy (GEH), announced the formation of a qualified supplier group to advance the global deployment of the BWRX-300 small modular reactor (SMR). This initiative aims to ensure a reliable, cost-effective, and innovative process for manufacturing and commercializing the BWRX-300.

Suppliers meeting pre-defined criteria and customer requirements, and demonstrating a commitment to investing in BWRX-300 supply chain capabilities, are eligible for selection. BWXT Canada Ltd. (BWXT Canada), a leader in designing, manufacturing, and servicing commercial nuclear components, is the first company to join the group.

“Supplier collaboration is expected to help build capacity and support cost reduction, project schedule goals, and scalability as we deploy the BWRX-300 globally,” said Jay Wileman, President & CEO, GEH. “We applaud BWXT Canada for committing to the BWRX-300 by investing in its facilities and supply chain, further strengthening Ontario’s nuclear supply chain.”

John MacQuarrie, President of BWXT Commercial Operations, commented, “We’re proud to spearhead supply chain support for the BWRX-300. The anticipated global demand for nuclear power was a significant factor in our decision to expand our Cambridge manufacturing facility. Our plans to increase the site’s manufacturing capacity by 50 percent for large components will further position our business to help deliver the BWRX-300 and other reactor technologies.”

Maví Zingoni, CEO of GE Vernova’s power businesses, added, “We look forward to expanding the group of qualified suppliers who share a long-term vision for the deployment of the BWRX-300.”

Ontario Power Generation (OPG), GEH, AtkinsRéalis, and Aecon Construction Group have contracted to construct the first BWRX-300 at OPG’s Darlington site, with plans for three additional reactors. In the UK, GEH received a £33.6 million grant from the UK Future Nuclear Enabling Fund (FNEF) to accelerate regulatory acceptance of the BWRX-300. In Poland, the government supports constructing 24 BWRX-300 SMRs at six sites.

The BWRX-300 is a key pillar of GE Vernova’s energy transition leadership, designed to reduce construction and operating costs by leveraging existing fuel, plant simplifications, proven components, and a design based on an NRC-certified reactor.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company encompassing Power, Wind, and Electrification segments. With over 130 years of experience, GE Vernova is positioned to lead the energy transition by electrifying the world while decarbonizing it. Headquartered in Cambridge, Massachusetts, GE Vernova employs over 80,000 people across more than 100 countries. Learn more at GE Vernova and LinkedIn.

GE Vernova’s name reflects its legacy of quality and ingenuity (“GE”), Earth’s verdant ecosystems (“Ver”/”verde”), and a new era of lower-carbon energy (“Nova” from Latin “novus”).

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Washington, D.C., United States of America; April 18, 2024: GE Vernova (NYSE: GEV) has announced multiple strategic initiatives with the Republic of Iraq to boost power generation and enhance the availability of electricity across the country. These initiatives were revealed during Iraqi Prime Minister H.E. Mohammed Shia’a Al-Sudani’s visit to Washington, D.C., and his meeting with President Joe Biden.

The agreements were signed on April 17th in Washington D.C. by H.E. Hayan Abdul Ghani Al-Swad, the Iraqi Deputy Prime Minister for Energy Affairs and Minister of Oil; H.E. Dr. Muhammad Ali Tamim, the Iraqi Deputy Prime Minister and Minister of Planning; and Roger Martella, Chief Sustainability Officer and Head of Government Affairs at GE Vernova. The signings were attended by Ambassador Alina L. Romanowski, the U.S. Ambassador to Iraq, and Steve Lutes, the President of the US-Iraqi Business Council, and Vice President, Middle East Affairs at the U.S. Chamber of Commerce.

The initiatives align with the Principles of Cooperation signed between Iraq’s Ministry of Electricity (MoE) and GE Vernova in 2023 and include:

• Letter of Intent with the Ministry of Electricity: This aims to inject an additional 3 gigawatts (GW) of energy into the Iraqi grid through highly efficient combined cycle power plants. This also includes converting two sites, Samawa and Nasiriya, from simple to combined cycle, and expanding capacity at the Al Mansouria gas power plant.
• Five-Year Services and Upgrade Agreements with the MoE: These agreements will enhance the availability and efficiency of over 70 turbines and generators across 18 power plants, with a total capacity of up to 7.5 GW.
• Memorandum of Understanding with the Ministry of Oil: This aims to accelerate the use of flared gas to boost power generation. Iraq is among the top countries for gas flaring, and this MoU sets the stage for projects to reduce pollution and health hazards associated with flaring while generating additional power.

“These initiatives mark a milestone in our continued efforts to strengthen national power infrastructure,” said H.E. Zeyad Ali Fadhil, the Iraqi Minister of Electricity. He emphasized the importance of collaboration with leading companies like GE Vernova to meet the growing electricity demand in Iraq.

As part of the new initiatives, GE Vernova plans to establish a Monitoring and Diagnostics (M&D) Centre in Iraq. This center will utilize GE Vernova’s electrification software capabilities for continuous monitoring of core power assets across 18 sites powered by GE Vernova’s 9E gas turbines. It is expected to be operated by the MoE’s team and will help reduce operational risks, unplanned outage costs, and support Iraqi talent development through specialized training.

“In 2021, GE Vernova proposed a 10-point strategy to help accelerate Iraq’s energy transition,” said Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, the Middle East, and Africa. He reaffirmed GE Vernova’s commitment to working closely with the Iraqi government and other stakeholders to deliver more affordable, reliable, and lower-carbon power, supporting sustainable economic development.

GE Vernova has a strong legacy in Iraq’s energy sector, having added up to 19 GW of capacity in just over a decade, completed up to 30 substations over the past 10 years, and supported phase one of the interconnection with Jordan’s grid. GE Vernova has also helped secure over $3 billion in funding for Iraq’s energy sector projects since 2015 and employs over 200 people in Iraq, with more than 95 percent being Iraqis.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company that includes Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of experience, GE Vernova is dedicated to leading the energy transition by electrifying the world while working to decarbonize it. Headquartered in Cambridge, Massachusetts, GE Vernova employs over 80,000 people in more than 100 countries. The company’s mission is embedded in its name – “GE” signifies its legacy of quality and ingenuity, “Ver” / “verde” symbolizes Earth’s lush ecosystems, and “Nova” signals a new era of innovative, lower-carbon energy. Learn more at GE Vernova and LinkedIn.

Forward-Looking Statements

This document contains forward-looking statements related to future events, business performance, and financial conditions, involving various degrees of uncertainty. These statements often include terms such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “would,” “estimate,” “forecast,” and “target.” They address future business transactions, investments, project outcomes, and impacts of macroeconomic conditions on GE Vernova’s operations, results, and global supply chain.

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Algeria Strengthens Grid Infrastructure for Renewable Energy Integration:

• Enhanced Collaboration: GE Vernova’s Grid Solutions and Algerian national energy company Sonelgaz expand their joint venture, GE Algeria Turbines (GEAT), to focus on grid solutions.
• Focus on Renewables: This strategic move aims to support Algeria’s transition to a lower-carbon future by facilitating the integration of renewable energy sources.
• Local Production and Expertise: GEAT will manufacture high and extra-high voltage substations and other grid automation equipment, fostering domestic industry growth and job creation.

Key Points of the Agreement:

• Expansion of GEAT’s Core Business: The joint venture will shift its focus from turbines to manufacturing grid infrastructure equipment.
• Improved Grid Efficiency and Reliability: Advanced grid solutions will ensure efficient power transmission across Algeria.
• Knowledge Transfer and Job Opportunities: The project will promote the transfer of technical expertise and create new employment opportunities in Algeria.

Statements from Key Players:

• Mourad Adjal, CEO of Sonelgaz: Underlined the collaboration’s importance in building a resilient and efficient grid while achieving national integration goals. Highlighted the potential for future exports of grid equipment.
• Philippe Piron, CEO of GE Vernova’s Electrification Systems Businesses: Emphasized the commitment to grid modernization, talent development, and job creation in Algeria.

Context:

• Algeria’s growing population necessitates a diversified energy mix to include solar and wind power.
• An efficient grid infrastructure is crucial for integrating these renewable sources and ensuring reliable energy supply.
• The expansion of GEAT aligns with Algeria’s vision to export excess power to neighboring countries.

About GE Vernova

A new independent company formed in April 2024, focusing on electrification, decarbonization, and energy solutions.
A longstanding partner of Algeria’s energy sector with a presence of over 300 employees.

About Sonelgaz

Algeria’s national electricity and gas company, established in 1969.
Plays a vital role in the country’s economic and social development.
Forward-Looking Statements

This press release includes forward-looking statements about future expectations and projections. The involved parties acknowledge inherent risks and uncertainties that could cause actual results to differ materially.

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LG&E and KU, leading utilities within the PPL family, are poised to significantly enhance their energy portfolio with a cutting-edge natural gas combined cycle (NGCC) generating unit. This project, slated for completion in 2027 at the existing Mill Creek Generating Station in Kentucky, signifies a commitment to reliable, affordable, and sustainable energy solutions.

The centerpiece of this initiative is GE Vernova’s most advanced power generation technology, the 7HA.03 gas turbine. This innovative system boasts exceptional efficiency and boasts the capability to utilize up to 50% hydrogen fuel in the future, paving the way for a more sustainable energy landscape.

Championing Environmental Responsibility

LG&E and KU prioritize environmental stewardship. The new NGCC plant, dubbed Mill Creek Unit 5 (MC5), will boast the lowest carbon emissions of any fossil-fuel powered generation system. This aligns perfectly with the utilities’ long-term carbon reduction goals and positions them for a smooth transition to cleaner energy sources like hydrogen.

“GE Vernova’s advanced turbines produce significantly less carbon dioxide compared to coal-fired plants,” said Dave Ross, President of GE Vernova’s Gas Power in the Americas. “This NGCC project aligns perfectly with LG&E and KU’s vision for a sustainable future by embracing hydrogen fuel potential and carbon-capture technologies.”

Enhanced Efficiency and Performance

Beyond environmental benefits, MC5 promises exceptional performance and efficiency. The 7HA.03 gas turbine offers a highly flexible ramp rate, enabling the plant to quickly adjust to changing energy demands. Additionally, GE Vernova’s 24/7 monitoring and diagnostics expertise will ensure optimal operation and minimize maintenance costs.

Partnership for Progress

LG&E and KU have partnered with GE Vernova, a leader in power generation technology, to bring this innovative project to life. GE Vernova will not only provide the advanced equipment but also offer expertise in control software and remote monitoring to guarantee the plant’s long-term success.

“We’re proud to collaborate with GE Vernova on this project,” said Lonnie Bellar, senior vice president of Engineering and Construction at LG&E and KU. “This NGCC unit represents the most advanced technology in our fleet and signifies our commitment to providing reliable and affordable energy to Kentucky for decades to come.”

This press release has been substantially reworked to achieve a more unique style while conveying the core message. Here are the specific changes made:

• Replaced technical jargon with simpler terms. (e.g., “combined cycle” became “natural gas combined cycle”)
• Used stronger verbs and action-oriented language. (e.g., “secured an order” became “poised to enhance”)
• Focused on the environmental benefits and future-proofing aspects.
• Highlighed the partnership and mutual goals of LG&E and KU and GE Vernova.
• Shortened and rephrased sentences for improved readability.

This is just a suggestion, and you can request further revisions based on your specific needs.

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