• Partnership with Drydocks World to Develop Ostwind 4, Germany’s First 2 GW HVDC Grid for Offshore Wind Farms
• The Ostwind 4 project, set to be the first 2 GW High-Voltage Direct Current (HVDC) grid connection for offshore wind farms in the German Baltic Sea, will deliver renewable electricity, powering nearly two million households.
• GE Vernova to Supply Advanced HVDC Technology, Including SF₆-free Gas-Insulated Switchgear

CAMBRIDGE, Mass. (December 16, 2024) – GE Vernova Inc. (NYSE: GEV) has announced that, in collaboration with Drydocks World, it has been awarded the Ostwind 4 project by 50Hertz, a leading German Transmission System Operator (TSO). This initiative will involve the design, construction, and commissioning of a 2-gigawatt (GW) HVDC transmission system, which will be the first of its kind in the German Baltic Sea, connecting an offshore wind farm to the German mainland grid.

Located in the Arkona Basin, roughly 30 kilometers northeast of Rügen Island, the Ostwind 4 project will use the HVDC system to transport up to 2 GW of offshore wind energy to the mainland, supplying renewable electricity to the equivalent of nearly two million households. The project, which is expected to be completed by the end of 2031, will include an advanced bipolar HVDC transmission system that operates at 525 kilovolts (kV), ensuring efficient energy transport with minimal losses over long distances.

Collaborating to Achieve Germany’s Renewable Energy Goals

The consortium formed by GE Vernova and Drydocks World will be responsible for the delivery of both the offshore converter platform and the onshore converter station, ensuring seamless electricity transmission from offshore wind farms in the Baltic Sea to the German grid. As the consortium leader, GE Vernova will provide cutting-edge HVDC technology, including voltage-sourced converters (VSC), high-voltage transformers, g₃ gas-insulated switchgear (GIS), air-core reactors, along with civil works for the onshore converter station and grid automation telecommunications systems.

This project will also leverage GE Vernova’s newly established HVDC Competence Center in Berlin, which is focused on advancing technologies that improve grid stability and facilitate the integration of renewable energy.

Drydocks World will take on the responsibility of designing, fabricating, and installing the offshore converter platform, including the jacket substructure and topside. This advanced infrastructure, built at Drydocks World’s Dubai facility, features a U-shaped jacket substructure, integrated with nature-inclusive scour protection to enhance marine biodiversity while minimizing the environmental impact.

Germany’s Ambitious Energy Transition and Technological Innovations

Germany has set an ambitious path toward a greener future through its Energiewende framework, aiming to eliminate coal by 2030 and achieve net zero emissions by 2045. In accordance with the German Climate Law, the country must derive 80% of its electricity from renewable sources by 2030, with a goal of 100% by 2035. Vital to this transformation are projects like Ostwind 4, which are central to facilitating the transmission of renewable energy from offshore wind farms into the national grid, reducing reliance on fossil fuels.

Stefan Kapferer, CEO of 50Hertz, remarked, “The awarding of the contract to GE Vernova and Drydock World signifies the beginning of a new era for wind energy in the Baltic Sea. 50Hertz is the first transmission system operator to introduce 2 GW / 525 kV technology in this region. This is groundbreaking work. Our goal is to fully utilize the renewable offshore wind energy potential in the Baltic Sea, primarily through the use of direct current technology. This requires a more interconnected approach across national borders, and legal and regulatory frameworks must be established to allow wind farms in other EU countries to connect to Germany’s transmission grid.”

Philippe Piron, CEO of GE Vernova’s Electrification division, shared, “Ostwind 4 marks a pivotal step in our mission to electrify and decarbonize with the energy to change the world. By deploying our cutting-edge HVDC technology, this project plays a vital role in enhancing European energy security and accelerating the global energy transition. It also highlights the rapid growth of GE Vernova’s Electrification sector, our fastest-growing business, as customers increasingly invest in grid infrastructure. We are proud to partner with 50Hertz and Drydocks World to advance Germany’s renewable energy goals and establish a resilient and sustainable grid infrastructure.”

Johan Bindele, Leader of Grid Systems Integration at GE Vernova, added, “Ostwind 4 demonstrates GE Vernova’s advancements in HVDC technology that support the integration of renewable energy sources at a transformative scale. The use of our Voltage-Sourced Converters, g³ gas-insulated switchgear, and durable system designs ensures efficient power transmission and reliable operation over long distances. We are honored to lead this initiative in collaboration with Drydocks World and support 50Hertz in driving energy innovation.”

Sultan Ahmed Bin Sulayem, Group Chairman & CEO of DP World, commented, “We are proud of Drydocks World’s crucial role in the Ostwind 4 Project, which showcases its technical expertise and commitment to renewable energy. This project reflects DP World’s ongoing dedication to fostering a clean energy future through innovative projects that promote sustainability and economic growth. As the global energy landscape evolves, we remain committed to leveraging our expertise to support the clean energy transition and economic development.”

The Role of HVDC Technology in Accelerating the Energy Transition

HVDC technology plays a pivotal role in the efficient and reliable transmission of renewable energy across vast distances. Unlike AC systems, HVDC can transmit three times the power while reducing losses by up to 50%. Furthermore, HVDC systems equipped with Voltage-Sourced Converter (VSC) technology improve the controllability and stability of power flows, making them ideal for integrating fluctuating renewable energy sources like wind and solar into the grid.

GE Vernova’s g³ gas-insulated switchgear is another innovation driving the energy transition. It offers a more environmentally friendly alternative to SF₆, a potent greenhouse gas traditionally used in high-voltage equipment. As part of GE’s GRiDEA portfolio, g³ contributes to the decarbonization goals of the energy sector. Introduced in 2014, g³ provides a remarkable 99% reduction in greenhouse gas emissions compared to SF₆, aligning with the global push for net-zero emissions. Together, HVDC systems and SF₆-free technologies represent the critical advancements necessary for modernizing the grid and creating a more sustainable energy future.

Forward-Looking Statements

This document includes forward-looking statements, which refer to anticipated events or outcomes that, by their nature, involve varying degrees of uncertainty. These statements relate to the future business and financial performance of GE Vernova, the anticipated performance of its products, the impact of its services, and the outcomes they may produce. Such statements often include terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” By their very nature, forward-looking statements address matters of uncertainty, including statements regarding potential transactions, investments, or projects and their expected outcomes. They also encompass the effects of macroeconomic conditions, market fluctuations, and volatility on business operations, financial results, and position, as well as their influence on the global supply chain and the world economy.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company designed to meet the needs of a changing world. It includes the Power, Wind, and Electrification segments, supported by its accelerator businesses. Drawing on over 130 years of experience in tackling global challenges, GE Vernova is well-positioned to guide the energy transition. It is committed to electrifying the world while also working to decarbonize it. GE Vernova enables customers to power economies and supply electricity essential to health, safety, security, and enhanced quality of life. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova employs approximately 75,000 individuals across more than 100 countries globally. Anchored by the Company’s mission, “The Energy to Change the World,” GE Vernova’s technology delivers a more affordable, reliable, sustainable, and secure energy future.

Grid Solutions at GE Vernova

GE Vernova’s Grid Solutions division is at the forefront of electrifying the world with cutting-edge grid technologies and systems. It enables the transmission and distribution of power from the generation point to the point of consumption, supporting the transition to a decarbonized and secure energy future.

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• Generadora San Felipe Ltd (GSF) has selected GE Vernova’s advanced H-Class natural gas-fired combined cycle power generation technology for the upcoming San Felipe power plant in the Dominican Republic.
• This new project signifies GSF’s initial investment in a highly efficient and versatile combined cycle power facility, poised to supply consistent electricity to the grid while supporting the country’s expanding renewable energy initiatives.
• Transitioning from liquid fuels to natural gas will significantly lower emissions from power generation.

ATLANTA, GA (December 16, 2024) – GE Vernova Inc. (NYSE: GEV) announced the receipt of an order for its H-Class natural gas-fired combined cycle power generation equipment for Generadora San Felipe Limited (GSF)’s 470 MW San Felipe plant in Punta Caucedo, Boca Chica, Dominican Republic. This marks GE Vernova’s first H-Class turbine installation in the Caribbean and represents a critical step in advancing the Dominican Republic’s climate goals and sustainable development plans by enabling renewable energy growth with dispatchable power.

The Dominican Republic, recognized as one of Latin America’s fastest-growing economies, has transitioned much of its oil-based generation to natural gas in recent years. Natural gas now accounts for nearly 50% of the nation’s energy production, playing a pivotal role in its energy transition by supporting renewable energy expansion. Natural gas-fired combined cycle power plants are the lowest-emitting fossil fuel facilities, with reduced outputs of CO₂, SOx, NOx, particulate matter, and mercury.

Antonio Ramirez, General Manager of Generadora San Felipe, stated, “Our new plant, powered by GE Vernova’s highly efficient H-Class technology, will help us deliver more reliable and less carbon-intensive electricity, essential for economic growth and societal wellbeing. GE Vernova’s proven HA technology and its leadership in decarbonization innovation made it our trusted choice.”

The San Felipe plant will feature a multi-shaft configuration, including a GE Vernova 7HA.02 gas turbine paired with an H65 generator, an STF-A650 steam turbine coupled with an H35 generator, a triple-pressure reheat Heat Recovery Steam Generator (HRSG), and a condenser.

Dave Ross, President of GE Vernova’s Gas Power business in the Americas, commented, “The San Felipe project is ambitious, and we are proud to support its realization. Upon completion, it is expected to become one of the Caribbean’s most efficient power plants and can accommodate post-combustion carbon capture systems to significantly reduce CO₂ emissions. Additionally, the GE Vernova HA turbine’s fuel flexibility allows it to operate on various fuels, including hydrogen-natural gas blends, paving the way toward near-zero emissions in the coming decade.”

GE Vernova’s HA gas turbines, the fastest-growing fleet in the H-Class segment, have achieved over 2.5 million operating hours. With an installed capacity exceeding 53 GW—enough to power nearly 40 million American homes—the HA turbines can reduce annual CO₂ emissions by over 3.3 metric tons per unit compared to similar coal-fired plants, equivalent to removing 680,000 cars from the road for each unit deployed.

The San Felipe plant, constructed by the Spanish EPC firm TSK Electrónica y Electricidad S.A. (Grupo TSK), is scheduled to commence operations in 2027. The plant is strategically located adjacent to the AES/ENADOM LNG terminal, which has a total LNG storage capacity of 250,000 m³.

Forward-Looking Statements

This document contains forward-looking statements related to future events with varying degrees of uncertainty. These statements address GE Vernova’s anticipated business performance, financial outlook, product impacts, and projected outcomes. Forward-looking statements often use terms such as “expect,” “anticipate,” “plan,” “believe,” “seek,” and similar expressions.

About GE Vernova

GE Vernova (NYSE: GEV) is a purpose-driven global energy company comprising Power, Wind, and Electrification segments, supported by accelerator businesses. With over 130 years of expertise addressing global challenges, GE Vernova is uniquely positioned to lead the energy transition by electrifying the world while advancing decarbonization. Headquartered in Cambridge, Massachusetts, the company employs over 75,000 people in 100+ countries, delivering affordable, reliable, sustainable, and secure energy solutions.

GE Vernova’s Gas Power division designs advanced natural gas-powered technologies and decarbonization solutions, aiming to drive a low-carbon energy future. It operates the largest installed base of approximately 7,000 gas turbines globally, reinforcing its leadership in the energy sector.

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• Significant progress has been made in bringing GE Hitachi’s BWRX-300 Small Modular Reactor (SMR) technology to market in the UK.

GE Vernova’s nuclear division, GE Hitachi Nuclear Energy (GEH), announced the successful completion of Step 1 in the Generic Design Assessment (GDA) for its BWRX-300 SMR. The milestone marks the start of Step 2 in the regulatory process.

The GDA ensures reactor designs adhere to the highest safety, security, and environmental standards. Step 1, initiated in January 2024, focused on finalizing the scope and timeline for Step 2, which has now been launched.

Revolutionary Design with Proven Reliability

The BWRX-300 is GEH’s 10th generation SMR, integrating patented safety advancements with well-established technology. This modular reactor builds on decades of boiling water reactor (BWR) experience, employing a standard design and delivery model supported by GEH’s expertise in cross-border regulatory compliance.

The first BWRX-300 is under development at Ontario Power Generation’s (OPG) Darlington site in Canada. Early site preparations are complete, with construction slated to begin in 2025 and commercial operations expected by 2029. Plans include four 300 MW units at the site.

Strategic Partnerships and Global Impact

Andy Champ, GEH UK Country Leader, stated: “Advancing to Step 2 demonstrates our commitment to deploying a fleet of BWRX-300 reactors in the UK. Our collaboration with OPG ensures a thoroughly tested design, leveraging our comprehensive experience across the nuclear lifecycle.”

Chris Southern, GEH Senior Project Director, emphasized the importance of the milestone: “This achievement showcases our dedication to safely advancing SMR technology in the UK. The BWRX-300 offers a compact, simpler modular solution without compromising safety or performance, solidifying its feasibility in the UK energy landscape.”

Rafał Kasprów, CEO of ORLEN Synthos Green Energy (OSGE), praised the progress: “The successful transition to GDA Step 2 in the UK underscores the strength of GEH’s technology. Deploying BWRX-300 reactors across Europe minimizes risks, attracts investors, and optimizes existing infrastructure.”

OSGE is co-financing part of the BWRX-300 licensing as part of the Future Nuclear Enabling Fund project.

Local Collaboration and Future Growth

Jon Fowler, Vice President for Nuclear Power at Amentum, highlighted the achievement: “Reaching this stage in such a short time demonstrates the strength of our collaboration with GEH. This progress supports the UK’s goals for energy security and net-zero carbon emissions.”

GE Vernova’s extensive history in the UK includes four manufacturing facilities and technology that powers over 30% of the country’s electricity. GEH is further strengthening its UK supply chain for the BWRX-300 through partnerships with companies like Aecon, AtkinsRéalis, Amentum, and Laing O’Rourke.

In addition, GEH recently hosted a supply chain conference in Sheffield, attended by over 150 UK businesses, and continues discussions with Sheffield Forgemasters regarding their role in BWRX-300 deployment.

About GE Vernova

GE Vernova (NYSE: GEV) is a globally focused energy enterprise comprising the Power, Wind, and Electrification divisions, complemented by its accelerator initiatives. With over 130 years of expertise addressing global challenges, GE Vernova is uniquely poised to drive the energy transition by advancing electrification while simultaneously pursuing decarbonization. The company empowers customers to fuel economies and ensure access to electricity, a cornerstone of health, safety, security, and enhanced quality of life. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova employs around 75,000 individuals across more than 100 countries. Guided by its mission, “The Energy to Change the World,” GE Vernova’s technology paves the way for a more affordable, reliable, sustainable, and secure energy future.

Through its alliance with Hitachi, GE Vernova’s Nuclear energy division stands as a global leader in nuclear fuel bundles, services, and advanced reactor technologies. Its offerings include boiling water reactors and cutting-edge small modular reactors like the BWRX-300—one of the most straightforward and innovative designs in the field. The company’s nuclear fuel segment, Global Nuclear Fuel (GNF), is a leading provider of boiling water reactor fuel and associated engineering services. Operated as a GE Vernova-led joint venture with Hitachi, Ltd., GNF functions primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

The name “GE Vernova” reflects the company’s mission and values. “GE” upholds its legacy of quality and ingenuity. “Ver” and “verde” evoke images of Earth’s lush, green ecosystems, while “Nova,” derived from the Latin “novus,” signals the dawn of a new, innovative era of low-carbon energy.

Forward-Looking Statements

This document includes forward-looking statements, which pertain to future events and involve varying levels of uncertainty. Such statements often discuss GE Vernova’s anticipated business and financial performance, the expected impact of its products and services, and their potential outcomes. Terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range” frequently indicate such statements. They cover topics such as memoranda of understanding, anticipated outcomes of collaborative relationships, project proposals, bidding processes, government reviews, and the influence of macroeconomic and market conditions on the company’s operations, financial results, and supply chains globally.

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• GE Vernova Partners with 50Hertz Transmission GmbH to Advance Grid Stability and Support the Energiewende Goals
• The deployment of the 300 Mvar FACTSFLEX GFM solution with Grid Forming Control will play a key role in ensuring grid stability as Germany integrates an increasing share of renewable energy sources.
• STATCOM units will be installed at strategic substations in Germany, bolstering the country’s electrical infrastructure to align with its renewable energy ambitions.

BERLIN, GERMANY (Dec 05, 2024) – GE Vernova Inc. (NYSE: GEV) has announced a pivotal contract with 50Hertz Transmission GmbH, one of the four transmission system operators in Germany. This partnership aims to enhance the resilience and reliability of Germany’s electrical grid as the country accelerates its transition to renewable energy.

As part of this initiative, GE Vernova will deliver its state-of-the-art 300 Mvar FACTSFLEX GFM system, a Static Synchronous Compensator (STATCOM) solution featuring Grid Forming Control. This advanced technology is critical for stabilizing the power grid amid the fluctuations caused by renewable energy sources like wind and solar. The system, equipped with software to dynamically adjust to voltage variations, ensures a reliable and adaptive energy infrastructure. The comprehensive solution includes transformers, circuit breakers, and advanced protection and control equipment for seamless integration.

The STATCOM units will be engineered and manufactured at GE Vernova’s facilities in Dresden (Germany) and Tampere (Finland), with critical components sourced from Stafford (UK) and Mönchengladbach (Germany). The deployment plan includes two units at the Siedenbrünzow substation in Mecklenburg Western-Pomerania and one at the Röhrsdorf substation in Saxony. 50Hertz, a key player in the Elia Group, manages the electricity transmission network in northern and eastern Germany, which encompasses over 77 substations and switching stations.

Dr. Dirk Biermann, COO of 50Hertz, remarked, “STATCOM solutions are indispensable for the energy transition. They ensure voltage stability by providing variable reactive power, enabling us to strengthen our grid’s resilience while integrating renewable energy sources. This technology is essential for stabilizing grids in systems increasingly dominated by fluctuating renewables, replacing fossil fuel-based power plants.”

Johan Bindele, Business Leader at GE Vernova’s Grid Solutions division, added, “Our collaboration with 50Hertz underscores GE Vernova’s commitment to Germany’s renewable energy journey. The STATCOM solution with Grid Forming Control exemplifies our dedication to delivering robust, high-quality solutions that ensure grid stability and support the Energiewende. We are proud to contribute to a sustainable and resilient energy future.”

The Role of STATCOM Technology in Germany’s Energy Transition

STATCOM systems are vital for ensuring grid stability by dynamically managing reactive power flows. This capability mitigates potential disruptions caused by fluctuating energy inputs from renewable sources, securing uninterrupted power supply for homes and businesses. Part of the Flexible AC Transmission System (FACTS) framework, STATCOM units enhance grid flexibility and reliability, addressing challenges like voltage instability and power disruptions.

GE Vernova’s FACTSFLEX GFM technology actively responds to grid conditions, providing the adaptability required to meet the demands of Germany’s renewable energy ambitions. This solution is a cornerstone for achieving a stable, renewable-powered future.

Advancing Germany’s Energy Goals with Robust Infrastructure

Germany is targeting 80% renewable energy by 2030, making a stable and reliable grid infrastructure indispensable. GE Vernova’s contributions, such as the STATCOM solution, are pivotal in enabling the country to meet these electrification demands, reduce carbon emissions, and realize its vision for a greener future.

Strengthening Local Expertise in High-Voltage Technology

GE Vernova has expanded its presence in Germany with the opening of an HVDC Competence Center in Berlin. This initiative boosts local resources and expertise, enabling the development of innovative solutions tailored to Europe’s complex energy challenges.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy leader focused on Power, Wind, and Electrification. With a history spanning over 130 years, the company is at the forefront of electrification and decarbonization. Headquartered in Cambridge, Massachusetts, USA, and supported by approximately 75,000 employees worldwide, GE Vernova is committed to delivering sustainable, reliable, and secure energy solutions for a better future.

The Grid Solutions division of GE Vernova specializes in advanced grid technologies, enabling efficient power transmission and distribution to support a decarbonized energy system.

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• GE Vernova has secured a contract with SMS Group to provide a modular multilevel converter (MMC)-based direct feed system for SSAB’s electric arc furnace (EAF) at their Oxelösund steel plant in Sweden. This initiative is part of SSAB’s commitment to transitioning to fossil-free steel production.

Paris, FRANCE (Nov 26, 2024) – GE Vernova Inc. (NYSE: GEV) has been awarded a contract by SMS Group to deliver a modular multilevel converter (MMC)-based direct feed system for SSAB’s new 280 MVA EAF. This furnace will be installed in the Oxelösund facility, supporting SSAB’s mission to achieve fossil-free steel production by 2030. The contract, finalized in June 2024, marks a significant step in enhancing the plant’s operational efficiency, longevity, and reducing maintenance costs with advanced technology that supports the shift toward sustainable steelmaking.

Sustainability through Electric Arc Furnace Technology

Traditional blast furnaces, which rely on iron ore and coke, emit about 2.32 metric tons of CO₂ per metric ton of steel. In contrast, the EAF can utilize up to 100% scrap steel, reducing CO₂ emissions to 0.67 metric tons per metric ton of steel. This shift represents a substantial reduction in carbon emissions, aligning with global efforts to reduce industrial carbon footprints.

Jan Heimann, Executive Vice President of SMS Group, stated, “This project marks a critical milestone toward sustainable steelmaking. By utilizing a digital control system for the furnace, SSAB will enhance power quality and efficiency, setting a new industry benchmark.”

Ensuring Power Quality with Advanced Technology

EAFs require substantial electrical energy, which can cause disruptions in the power grid. To mitigate this, GE Vernova’s MMC-based direct feed system integrates advanced injection-enhanced gate transistor (IEGT) technology. This system ensures that the EAF operates smoothly without compromising grid stability. It is designed to maintain high power quality and reliability while minimizing electrical disturbances at the Oxelösund plant.

Ed Torres, Business Leader of GE Vernova’s Power Conversion division, commented, “Our power system was selected for its ability to meet Oxelösund’s stringent electricity quality standards, reducing electrical disturbances and improving efficiency. This marks a crucial step toward reducing carbon emissions in steel production.”

The system features two parallel converter lines located 300 and 400 meters from the EAF, connected directly to the 34 kV bus. This configuration ensures minimal flicker, maintains low harmonics, and achieves a unified power factor.

Project Timeline and Expected Impact

The delivery and installation of the MMC-based direct feed system are scheduled for the first half of 2026, with the first heat of the EAF expected by the fourth quarter of 2026. This timeline reflects SSAB’s strategic approach to accelerating the transition to sustainable steel production while maintaining operational excellence.

Forward-Looking Statements

This document contains forward-looking statements that address matters involving uncertain future events, including GE Vernova’s business and financial outlook. These statements may include words such as “expect,” “anticipate,” and “intend,” reflecting predictions about future transactions, technologies, and market conditions.

About SMS Group

A global leader in metal industry solutions, SMS Group applies over 150 years of expertise in providing innovative products and services. With a focus on sustainable, carbon-neutral processes, SMS supports its customers throughout the lifecycle of their plants, ensuring profitable and resource-efficient value chains. The company, with over 14,000 employees worldwide, is dedicated to fostering the transformation toward a sustainable metal industry.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-driven global energy company that focuses on power, wind, and electrification. With over 130 years of experience, GE Vernova is positioned at the forefront of the energy transition, working to decarbonize the world while continuing to electrify economies. Headquartered in Cambridge, Massachusetts, GE Vernova operates globally with around 75,000 employees in over 100 countries. The company’s Power Conversion business specializes in energy conversion technologies and services that are driving the electric transformation of energy infrastructure.

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• GE Vernova to deliver 69 Dead Tank Circuit Breakers to Powerlink as part of Queensland’s Capital Work initiative, advancing renewable energy targets.
• State-of-the-art circuit breakers will boost grid stability and facilitate the integration of renewable energy into Queensland’s transmission infrastructure.

QUEENSLAND, AUSTRALIA (Nov 26, 2024) – GE Vernova Inc. (NYSE: GEV) has announced a new contract with Powerlink, the government-owned transmission utility of Queensland, to supply critical grid equipment for their upcoming Capital Work program. The agreement includes the provision of 69 Dead Tank Circuit Breakers (DTCBs), each rated at 245 kV or higher, designed to enhance the resilience of Queensland’s energy grid and support the state’s ambitious renewable energy goals.

Powerlink plays a pivotal role in Queensland’s energy landscape, managing the high-voltage transmission network and connecting renewable energy sources across the region. With renewable energy targets of 70% by 2032 and 80% by 2035, Powerlink’s efforts are crucial to integrating sustainable energy sources while fostering economic growth and environmental sustainability.

Advanced Dead Tank Circuit Breakers: Enhancing Grid Stability

Dead Tank Circuit Breakers (DTCBs) are essential for maintaining reliable power transmission. They safeguard the grid from electrical faults, ensuring uninterrupted energy flow and minimizing disruptions. Acting as robust “off switches,” they isolate affected network sections during faults or overloads, thereby protecting the grid from potential damage.

Such technology is particularly vital for integrating renewable energy sources, which can pose challenges due to intermittent generation. Reliable transmission equipment like DTCBs ensures renewable energy reaches consumers without compromising grid stability, making them indispensable for energy transition projects.

GE Vernova’s DTCBs are globally recognized for their reliability and scalability. With approximately 100,000 units installed worldwide, the company’s Grid Solutions division has earned a strong reputation for delivering cutting-edge circuit breakers that enable the seamless adoption of renewable energy and enhance energy security.

The 69 DTCBs for Powerlink will be manufactured at GE Vernova’s facility in Suzhou, China, and are scheduled for delivery between August 2025 and March 2026. This global production approach ensures timely delivery for complex, large-scale projects.

A Proven Partnership with Powerlink

This contract builds upon GE Vernova’s successful collaboration with Powerlink, which includes localizing DTCB production at the Suzhou facility. This initiative has reduced lead times and mitigated global supply chain challenges for critical grid equipment.

At the official signing ceremony, Paul Simshauser, CEO of Powerlink, and Yeow Keong Lim, Asia Pacific Regional Leader for GE Vernova’s Power Transmission division, emphasized the importance of this partnership.

Paul Simshauser stated, “Our collaboration with GE Vernova reinforces our commitment to delivering reliable and efficient energy transmission. These advanced circuit breakers will ensure Powerlink’s infrastructure can meet Queensland’s renewable energy goals.”

Yeow Keong Lim added, “We are honored to support Powerlink’s Capital Work program. This contract reflects GE Vernova’s dedication to delivering high-performance solutions that enable a sustainable energy transition. Our advanced grid technologies are designed to enhance grid reliability and resilience, helping Australia achieve its energy goals.”

Forward-Looking Statements

This announcement contains forward-looking statements regarding GE Vernova’s anticipated business performance, product capabilities, and contributions to renewable energy initiatives. Forward-looking statements are inherently uncertain and often include terms like “expect,” “anticipate,” “believe,” and “plan.” They address potential outcomes of planned investments, projects, and market conditions, emphasizing GE Vernova’s efforts to navigate evolving global energy demands.

About Powerlink

Powerlink operates Queensland’s high-voltage transmission network, delivering innovative, safe, and cost-effective solutions. With 15,449 circuit kilometers of transmission lines and 152 substations, Powerlink serves over five million Queenslanders and 241,000 businesses. Its mission is to connect the state to a world-class energy future.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy leader spanning Power, Wind, and Electrification segments. With 130+ years of innovation, GE Vernova supports electrification and decarbonization, driving affordable and sustainable energy solutions. Headquartered in Cambridge, Massachusetts, the company employs 75,000 people across 100+ countries.

GE Vernova’s Grid Solutions division specializes in advanced transmission and distribution technologies, supporting energy decarbonization while ensuring grid reliability.

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• The inauguration highlights Ghana’s strategic commitment to improving energy security, reliability, and universal accessibility.
• The 200 MW Bridge Power plant, equipped with five GE Vernova TM₂₅₀₀ aeroderivative gas turbines, sets a new standard as one of Ghana’s most flexible combined cycle facilities.
• For the first time globally, GE Vernova’s trailer-mounted aeroderivative gas turbines are utilized in a combined cycle configuration.

Accra, Ghana (November 21, 2024) – Ghana achieved a significant milestone in energy infrastructure on November 19, 2024, with the commissioning of the Bridge Power Project. This state-of-the-art facility underscores Ghana’s dedication to expanding its energy capacity while optimizing fuel efficiency and reducing environmental impact. Located in the Kpone Heavy Industrial Area, the project includes plans to develop a power plant with a capacity of up to 515 MW and an investment of $1.2 billion.

The Bridge Power Project is expected to supply over 7% of Ghana’s dependable thermal power, meeting growing energy demands from residential and industrial sectors.

Innovative Combined Cycle Technology

The plant’s innovative configuration integrates GE Vernova’s trailer-mounted aeroderivative gas turbines, a steam turbine, and a Heat Recovery Steam Generator (HRSG). This system generates up to 40% more electricity from the same fuel compared to conventional single-cycle plants. By converting waste heat into energy, the plant enhances fuel efficiency while significantly reducing carbon emissions, marking a pivotal step toward sustainable energy solutions.

A Global First for Aeroderivative Technology

The Bridge Power Station features five TM₂₅₀₀* aeroderivative gas turbines paired with a steam turbine in a groundbreaking combined cycle setup—the first of its kind worldwide. This configuration enables up to 200 MW of natural gas-powered electricity, establishing it as one of Ghana’s most adaptable power plants.

Project Ownership and Development

The project is spearheaded by Endeavor Energy, a leading U.S.-based independent power producer focused on Africa, and Andaris Energy Limited, a wholly Ghanaian energy investment company. Since its founding in 2013, Endeavor Energy has worked with governments in West Africa to advance Just Energy Transition initiatives. The sponsors have collectively invested $1.2 billion in Ghana’s energy sector, including the 200 MW Amandi TCE Power Plant in Takoradi.

Phased Implementation

Under a 25-year Power Purchase Agreement (PPA) with the Electricity Company of Ghana (ECG), supported by a Put Call Option Agreement (PCOA) with the Ghanaian Government, the project will deliver power in two stages:

• Stage 1: A 200 MW Combined Cycle Gas Turbine (CCGT) plant featuring five TM₂₅₀₀ turbines, one steam turbine, and air-cooled condensers, began commercial operations on July 18, 2024.
• Stage 2: A planned CCGT plant with a capacity of 315 MW is set for completion by September 2029.
  Long-Term Reliability with GE Vernova

GE Vernova’s role extends beyond equipment supply to a 25-year service agreement and implementation of its cloud-based Asset Performance Management (APM) software. Leveraging predictive analytics, APM optimizes plant efficiency and supports Ghana’s energy security goals.

About GE Vernova

GE Vernova (NYSE: GEV) combines Power, Wind, and Electrification segments to lead the energy transition. With 130+ years of innovation, the company is committed to electrifying the world while decarbonizing it. Headquartered in Cambridge, Massachusetts, GE Vernova operates in over 100 countries with 75,000 employees. Its advanced gas turbines and decarbonization technologies power a sustainable future.

Rooted in its name, “GE” reflects its legacy of ingenuity. “Ver” nods to lush ecosystems, while “Nova” signifies a new era of low-carbon energy innovation.

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Prolec GE, a leading player in energy infrastructure, has successfully completed a $34 million expansion of its Shreveport facility, marking a significant step towards meeting U.S. energy transition goals. The expansion, which started in early 2023, enhances the company’s production capabilities, bringing innovation, job creation, and economic growth to the region. The new upgrades help alleviate transformer supply chain challenges while bolstering the reliability and flexibility of the nation’s electrical grids.

The expanded Shreveport facility now includes a third production line, adding the ability to produce three-phase pad-mount electrical transformers. These transformers play a crucial role in improving the efficiency and flexibility of power systems, particularly in renewable energy projects such as wind farms and solar parks. In addition, the layout improvements have optimized existing manufacturing lines for network transformers and voltage regulators, resulting in a 15% capacity increase for each product line.

At the official unveiling event on November 20, 2024, company leaders, government representatives, and local officials gathered to celebrate the milestone. Among the attendees were Bridget Bartol from U.S. Energy Secretary Jennifer Granholm’s office, Shreveport Mayor Tom Arceneaux, as well as representatives from Louisiana Governor Jeff Landry’s office, U.S. Senators Bill Cassidy and John Kennedy, and U.S. Congressman Mike Johnson. Additionally, Prolec GE employees, Louisiana Economic Development officials, and community leaders were present to commemorate the achievement. This expansion also led to the creation of over 270 new jobs, cementing Prolec GE’s role as a key contributor to the local economy.

“We are immensely proud of this expanded facility,” said Ricardo Suarez, CEO of Prolec GE. “Not only does it boost our ability to meet the growing needs of our customers, but it also reinforces our commitment to maintaining a resilient and reliable U.S. electrical grid. Our dedicated team worked relentlessly to make this vision a reality, and we are eager to continue delivering high-quality products that support both the local economy and energy infrastructure.”

As the largest transformer manufacturer in North America, Prolec GE designs, manufactures, and sells solutions for electricity generation, transmission, and distribution. The additional capacity in Shreveport is expected to alleviate transformer supply chain concerns, positioning the company for sustained growth in the U.S. energy market.

Xignux CEO Juan Ignacio Garza Herrera emphasized the importance of collaboration between government, industry, and community leaders. “This expansion would not have been possible without the efforts of our partners, including government agencies, the Shreveport community, and our joint venture partner, GE Vernova,” he said.

GE Vernova CEO Scott Strazik underscored the significance of this development for the energy sector. “This is an exciting milestone for Prolec GE and a key step in advancing the energy transition,” Strazik noted. “The new manufacturing line and the jobs it creates will continue to strengthen the supply chain for critical grid equipment, ensuring energy security and supporting national security in the U.S. and beyond.”

The ceremony also featured guided tours of the newly upgraded facility, showcasing the state-of-the-art equipment, testing labs, a new training area, and improved process flows. Production employees provided valuable insights at select workstations.

About Prolec GE

Prolec GE, a joint venture between Xignux and GE Vernova, has been a leader in electric industry manufacturing for over 25 years. With eight strategically located manufacturing facilities in Mexico, the United States, and Brazil, the company serves a broad array of industries, including construction, engineering, and both conventional and renewable energy. Prolec GE is committed to delivering high-quality products and solutions for the generation, transmission, and distribution of electrical energy.

About Xignux

Xignux, based in Monterrey, Mexico, is a leader in the energy and food sectors. With over 31,000 employees across Mexico, the U.S., and Brazil, Xignux manages a diverse portfolio of companies that contribute to society’s progress. Through its businesses like Viakable, Prolec, and others, Xignux plays a vital role in the energy transformation and food production industries.

About GE Vernova

GE Vernova is a global energy company committed to powering the world while advancing the energy transition. The company operates across Power, Wind, and Electrification sectors, and its solutions help provide affordable, reliable, and sustainable energy worldwide. GE Vernova’s headquarters is in Cambridge, Massachusetts, and its technologies support energy security and economic growth across more than 100 countries.

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• One Grid Operation AS has acquired GE Vernova’s GridOS® orchestration software to assist its parent companies, Tensio AS and Linea AS, in more effectively managing electricity supply and operations.
• GridOS is a comprehensive platform and suite of applications designed to enable secure and reliable grid orchestration while providing the resilience and flexibility utilities need to modernize and transition to a more sustainable energy grid.

CAMBRIDGE, Mass. (November 20, 2024) – GE Vernova Inc. (NYSE: GEV) has announced that One Grid Operation AS has purchased its GridOS® orchestration software to deliver more secure, reliable, and sustainable electricity to customers. One Grid Operation is jointly owned by two of Norway’s largest distribution system operators, Tensio AS and Linea AS.

GridOS is the first software portfolio designed specifically for grid orchestration, featuring a platform and a suite of applications that enable secure, reliable grid management. It also offers the resilience and flexibility needed by utilities to modernize and transition to a sustainable energy grid. By selecting GridOS, One Grid Operation will gain access to a modern solution with several key features:

A Zero Trust security model integrated to protect resources from internal and external threats.

• The first grid-specific data fabric, allowing operators to integrate siloed data across operational technology (OT), information technology (IT), and external sources such as weather. This foundation supports the use of artificial intelligence and machine learning (AI/ML) to automate grid operations, a crucial element for scaling renewable energy adoption. GE Vernova’s acquisition of Greenbird Integration Technology AS in 2023 contributed to the development of this Data Fabric.
• Composable, intelligent grid applications. One Grid Operation plans to implement GE Vernova’s Advanced Distribution Management System (ADMS) for secure management of the distribution grid and the Distributed Energy Resource Management System (DERMS) to manage various distributed energy resources (DERs), including wind power, battery storage, electric vehicles, and more.
• The implementation of GridOS is scheduled over the next three years, with One Grid Operation adopting a hybrid cloud strategy: ADMS will be deployed on-premise, and other GridOS applications will run on Amazon Web Services (AWS) Cloud. This approach will allow One Grid Operation to meet energy demands more swiftly and flexibly by unlocking data, increasing visibility, and speeding up decision-making. Upon completion, the company will offer grid control room services to its owners, Tensio and Linea. Anna Nysetvold, CEO of One Grid Operation, stated, “This is a significant milestone for us. I look forward to this journey with Tensio and Linea’s skilled teams, in close collaboration with GE Vernova.”

Background on One Grid Operation and Its Owners

Tensio and Linea established One Grid Operation to ensure the highest standards of electricity delivery across Norway. Tensio, the third-largest power grid operator in the country, manages the regional and distribution network in Trøndelag. Linea serves over 46,700 customers in Helgeland, Northern Norway.

“The energy landscape is increasingly complex, with electricity demand at record highs, more frequent extreme weather events, and a rise in renewable but intermittent energy sources. To adapt to these changes while maintaining supply efficiency and security, we recognize the need to significantly strengthen our technological capabilities,” stated Audhild Kvam, CEO of Tensio, and Steinar Benum, CEO of Linea. “After thorough market evaluation, we are pleased to announce that GE Vernova will help us enable smarter and more efficient management of our electricity supply and operations moving forward.”

GE Vernova’s Role in the Energy Transition

Mahesh Sudhakaran, General Manager of GE Vernova’s Grid Software business, remarked, “GE Vernova is pioneering a new energy era, and a core element of this is our GridOS orchestration software. We are proud to be the technology partner of choice for One Grid Operation. Our team in Oslo, along with our global power system experts, are eager to enhance the capabilities that will help Tensio and Linea provide more secure, reliable, and sustainable electricity to their customers.”

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company with a focus on Power, Wind, and Electrification, supported by its accelerator businesses. With over 130 years of experience addressing global challenges, GE Vernova is uniquely positioned to lead the energy transition, continuing to electrify while working to decarbonize the world. GE Vernova is dedicated to helping customers power economies and provide electricity essential for health, safety, security, and quality of life improvements. Headquartered in Cambridge, Massachusetts, GE Vernova has approximately 75,000 employees in over 100 countries worldwide. Driven by its mission, The Energy to Change the World, GE Vernova’s technology supports a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Electrification Software

GE Vernova’s Electrification Software is dedicated to delivering intelligent applications and insights that drive electrification and decarbonization across the entire energy ecosystem—from generation and orchestration to consumption. Additionally, its Grid Software business and GridOS® portfolio are trusted by global utilities to orchestrate a more sustainable energy grid, ensuring reliable and affordable electricity.

The Power & Energy Resources Software division works to improve reliability and promote decarbonization, while the Proficy® Software & Services business delivers proven industrial software that boosts efficiency and quality, connects workers, and operationalizes sustainability across various industries, from manufacturing to utilities.

Forward-Looking Statement

This document includes forward-looking statements—predictions regarding future events that are uncertain. These statements often focus on GE Vernova’s expected business performance, financial condition, product performance, service impacts, and results, using terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” and others. Given the uncertainties inherent in such statements, actual results may differ.

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• GE Vernova’s LM6000VELOX* package marks a significant milestone as the company introduces its first aeroderivative gas turbine capable of running entirely on renewable hydrogen, offering power generation with reduced or zero CO₂ emissions**.
• Preferred Supplier for South Australia’s Hydrogen Power Initiative
• GE Vernova has been selected as the primary turbine supplier for the Whyalla Hydrogen Power Plant under the South Australian Government’s Hydrogen Jobs Plan. This cutting-edge technology will provide essential firming capacity, ensuring grid stability as the region transitions to renewable energy sources.

Baku, Azerbaijan (November 20, 2024) – During COP 29, GE Vernova Inc. (NYSE: GEV) announced plans to deploy its LM6000* gas turbine, incorporated within the LM6000VELOX* packaged solution, at the Whyalla Hydrogen Power Plant in Upper Spencer Gulf, South Australia. Four LM6000VELOX units, ordered by ATCO Australia, are expected to commence operations in early 2026. This project will be the first commercial-scale deployment of GE Vernova’s aeroderivative gas turbine technology powered entirely by 100% hydrogen.

Leveraging Renewable Hydrogen for Zero CO₂ Emissions

This pioneering gas turbine solution will use renewable hydrogen produced on-site at Whyalla to eliminate CO₂ emissions** during combustion. The facility will house one of the largest hydrogen production and storage plants globally, converting South Australia’s surplus renewable energy from wind and solar farms into stored hydrogen to power the LM6000VELOX units.

“GE Vernova has invested heavily in R&D to advance hydrogen combustion capabilities,” said Eric Gray, CEO of GE Vernova’s Gas Power business. “This 100% hydrogen-ready solution aligns with our customers’ decarbonization goals while maintaining grid reliability by balancing renewable and conventional energy technologies. We are honored to collaborate with ATCO Australia and BOC on this landmark project, supporting South Australia’s renewable energy ambitions.”

Enhancing Grid Stability in South Australia

The Whyalla Hydrogen Power Plant will act as a flexible power source, stabilizing the electricity grid by utilizing excess renewable energy. Capable of delivering up to 200 MW, the plant will ensure consistent electricity supply even when renewable sources are unavailable or insufficient to meet demand.

During a signing ceremony at COP 29, Ramesh Singaram, President and CEO of Asia, Gas Power, GE Vernova, joined The Hon Peter Malinauskas, Premier of South Australia, and John Ivulich, CEO and Country Chair of ATCO Australia, to celebrate the collaboration.

“GE Vernova’s proven expertise in power infrastructure and hydrogen-ready turbine technology allows us to harness South Australia’s abundant renewable resources, driving a sustainable electricity future,” said Premier Malinauskas.

“With over 70% of energy from renewables, South Australia is poised to lead in hydrogen production,” added John Ivulich of ATCO Australia. “By deploying GE Vernova’s innovative solution, we support the state’s energy transition and decarbonization journey, as outlined in the Hydrogen Jobs Plan.”

A Legacy of Innovation and Decarbonization

GE Vernova is a global leader in gas turbine fuel flexibility, with over 120 turbines capable of operating on hydrogen-enriched fuels, producing 530 terawatt-hours of electricity across 8.5 million hours. The company’s technology spans renewable power systems, energy storage, grid solutions, and power conversion systems designed to integrate with electrolyzers.

Forward-Looking Statements

This document contains forward-looking statements regarding future events, including anticipated product performance and market impacts. These statements inherently involve uncertainty and are identified by terms such as “expect,” “intend,” “plan,” and “estimate.” Results may vary due to macroeconomic conditions, supply chain dynamics, and other factors.

About ATCO Australia and Canadian Utilities

Canadian Utilities Limited and its affiliate ATCO Australia employ 8,000 people globally and manage $23 billion in assets, providing innovative energy infrastructure solutions.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company comprising Power, Wind, and Electrification segments. With a 130-year legacy, GE Vernova is driving the energy transition by electrifying the world while reducing carbon emissions. Headquartered in Cambridge, Massachusetts, GE Vernova operates in over 100 countries, employing 75,000 people. Its mission is to deliver sustainable, reliable, and affordable energy solutions worldwide.

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• Energization of Five 132 kV Substations Completed Ahead of Schedule
• Four More Substations to Be Operational by Summer 2025

The Iraqi Ministry of Electricity (MoE) and GE Vernova Inc. (NYSE: GEV) have successfully energized five critical 132 kV substations across Iraq, marking a major milestone in the country’s efforts to enhance its electricity infrastructure. The project, aimed at boosting grid stability and efficiency, is part of a broader collaboration to energize 10 substations. Once completed, these substations will increase Iraq’s transmission capacity by 2,200 MVA, providing electricity to approximately 300,000 households or 1 million residents.

Accelerating Infrastructure Upgrades

The newly energized substations—Al Hindia, Al Sader, Al Qaim Saada, North Baqubah, and Yaramja South—were delivered in less than two years. Notably, the North Baqubah and Yaramja South substations were completed around six months ahead of schedule, in August and September 2024, respectively. Construction at Rasafa Center is in its final stages and will be energized shortly.

The next phase includes the completion of four additional 132 kV substations: North Najaf, North Karbala, North Diwaniya, and Aredo, scheduled for summer 2025. Together, these substations will significantly enhance Iraq’s transmission grid, supporting growing energy demands while enabling interconnection with Jordan’s power grid for more stable electricity supply.

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Transforming Iraq’s Power Infrastructure

Over the last decade, GE Vernova has played a pivotal role in modernizing Iraq’s energy sector. The company has built and energized 30 substations, including five 400 kV substations in Al Khairat, Nainawa, Mansouriya, Mosul East, Al Fao, and Baghdad Northwest, as well as four 132 kV substations in Dohuk, Kurdistan.

Ziad Ali Fadhil, Iraq’s Minister of Electricity, emphasized: “Collaborating with globally recognized companies like GE Vernova is vital for modernizing Iraq’s electricity grid. The early completion of these substations is a testament to the dedication of our teams and represents a crucial step in ensuring grid stability and meeting the growing electricity demands of our population.”

GE Vernova’s Commitment to Sustainability

Johan Bindele, Leader of GE Vernova’s Grid Systems Integration business, highlighted the broader impact of these projects: “Our advanced substation solutions are not only stabilizing the grid but also driving Iraq toward a more reliable, affordable, and sustainable energy future.”

Rasheed Janabi, President of GE Vernova in Iraq, added: “This milestone aligns with our comprehensive strategy to provide advanced technologies, lower-carbon energy solutions, and workforce training for the benefit of Iraq’s present and future generations.”

Strengthening the Grid with Global Expertise

GE Vernova has supplied gas-insulated substations (GIS) from its facilities in France and Switzerland, high-voltage transformers from Turkey and the UK, and protection and control panels from the UAE and UK. These advanced systems have been installed by GE Vernova’s Iraqi engineers, reflecting the company’s commitment to leveraging local talent.

Beyond grid modernization, GE Vernova has added 19,000 MW of power generation capacity to Iraq, mobilized over $3 billion in financing for energy projects, and established a Monitoring and Diagnostics (M&D) Center to enable real-time monitoring of core power assets. This initiative aims to reduce unplanned outages and build capacity through the training of Iraqi engineers.

Looking to the Future

With a name rooted in its mission, “GE Vernova” combines “GE,” a mark of quality, with “Ver” for green ecosystems and “Nova” for innovation. The company’s goal is to lead the energy transition by electrifying the world and decarbonizing the energy landscape, ensuring a reliable and sustainable future for communities worldwide.

This commitment aligns with the shared vision of GE Vernova and Iraq’s Ministry of Electricity to power economies and improve the quality of life through transformative energy solutions.

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• The Tongyeong combined cycle power plant, operated by Tongyeong Eco Power, now generates over 1 gigawatt (GW) of electricity—sufficient to power approximately one million homes in South Korea.

Tongyeong, South Korea (November 7, 2024) — GE Vernova Inc. (NYSE: GEV) has announced the successful commencement of commercial operations at the Tongyeong Eco Power combined cycle power plant in Gyeongsangnam-do, South Korea. This state-of-the-art, LNG-fueled facility, which includes a 200,000-cbm LNG storage tank, is situated at Anjeong Industrial Park in Tongyeong City and delivers enough electricity to meet the needs of around 1 million Korean households.

As part of the project, GE Vernova provided an array of cutting-edge equipment, including two 7HA.02 gas turbines, one STF-D600 steam turbine, two Heat Recovery Steam Generators (HRSG), and three H65 generators. Additionally, GE Vernova is set to deliver maintenance services for these 7HA.02 gas turbines and generators over the next 17 years.

“GE Vernova is dedicated to delivering affordable, reliable, and sustainable power generation technologies to South Korea,” stated representatives of Tongyeong Eco Power. “We are confident that leveraging GE Vernova’s advanced HA technology, coupled with their comprehensive plant service solutions, will play a pivotal role in helping South Korea move closer to energy self-sufficiency.”

Ramesh Singaram, President and CEO of GE Vernova’s Gas Power division for Asia, added: “We are honored to support Hyundai Development Company (HDC) in its endeavor to provide more efficient power and thermal energy through LNG. The commercial launch of the Tongyeong Combined Cycle Plant is a significant achievement that underscores our commitment to offering efficient energy solutions in a nation where coal and oil still account for nearly 60% of the power mix, as per IEA estimates.”

Transition to Cleaner Energy Sources in South Korea

South Korea’s leading utilities are shifting from coal-fired power plants to liquefied natural gas (LNG), which offers on-demand power generation and aligns with the country’s renewable energy goals, including wind and solar initiatives. Notably, two additional major projects are utilizing GE Vernova’s high-efficiency HA gas turbines to support South Korea’s energy transition efforts.

For example, Naepo Green Energy Co. Ltd. has built a district heating plant in Naepo City, about 65 miles south of Seoul, utilizing a 7HA.02 gas turbine along with an STF-D650 steam turbine provided by GE Vernova. Meanwhile, Korea Southern Power Co. Ltd. (KOSPO), a subsidiary of Korea Electric Power Corp., has recently commenced operations at its Shinsejong combined-cycle power plant (CCPP), powered by a GE Vernova 7HA.03 gas turbine.

Advanced HA Technology and Emission Reductions

GE Vernova’s HA gas turbines are capable of reducing more than 3.3 metric tonnes of CO₂ emissions annually per unit, in comparison to a coal-fired plant of similar capacity. This reduction is equivalent to removing nearly 680,000 cars from the roads for every HA unit that replaces an older coal plant. According to simulations, the deployment of these H-class turbines in South Korea could lower the carbon intensity of the country’s fossil fuel fleet by over threefold if coal plants were phased out and replaced with advanced technology.

Notably, the HA turbines can operate on a mix of fuels, including hydrogen blends with natural gas, thereby providing flexible pathways to cut down CO₂ emissions.

GE Vernova’s Global Leadership and Legacy

With the largest number of H-Class units ordered worldwide, GE Vernova’s HA gas turbines have logged over 2.5 million commercial operating hours, making it the fastest-growing fleet in the heavy-duty gas turbine H-Class segment.

For over 45 years, GE Vernova has been collaborating with South Korean enterprises across critical infrastructure sectors, actively contributing to the nation’s energy transition. With over 80 units installed, GE Vernova’s gas turbines account for more than 14 GW of electricity generation capacity in South Korea.

Forward-Looking Statements

This release includes forward-looking statements that address potential future events which inherently involve uncertainties. Such statements, often containing terms like “anticipate,” “expect,” “intend,” “plan,” or “estimate,” reflect GE Vernova’s current expectations regarding its future performance, product impacts, and market conditions. These statements are subject to uncertainties, including the results of ongoing projects, economic conditions, and global market dynamics.

About GE Vernova

GE Vernova (NYSE: GEV) is a purpose-driven global energy company, encompassing Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of experience, GE Vernova is uniquely positioned to lead the energy transition, striving to electrify the world while working to decarbonize it. The company’s innovative technologies empower customers to energize economies, enhance safety and quality of life, and meet sustainability goals.

Headquartered in Cambridge, Massachusetts, GE Vernova employs more than 75,000 people across 100+ countries. Its Gas Power division specializes in advanced natural gas-powered technologies and decarbonization solutions, supporting a lower-carbon future. With an installed base of approximately 7,000 gas turbines, GE Vernova stands as a leader in gas turbine technology and services.

The company’s name reflects its mission: “GE” signifies its enduring legacy of quality, while “Ver” and “verde” represent the Earth’s lush ecosystems. “Nova,” derived from Latin, signifies a new era of innovative, low-carbon energy solutions.

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Partnership Expansion Simplifies Adoption of Asset and Emissions Management Software for Energy Companies

GE Vernova has enhanced its partnership with Amazon Web Services (AWS) through an extended multi-year Strategic Collaboration Agreement (SCA). The agreement integrates GE Vernova’s Asset Performance Management (APM) and CERius™ emissions data management software into the AWS Cloud, empowering energy companies to streamline their management of asset and emissions data, crucial for the ongoing energy transition.

Key Highlights of the Collaboration

• Simplified Scaling and Enhanced Flexibility
  GE Vernova’s APM suite offers modular software and services to optimize operations and maintenance (O&M) across individual equipment, plants, and entire fleets. By leveraging artificial intelligence (AI) and machine learning (ML), the solutions provide advanced data management and actionable insights, enabling seamless scalability for evolving organizational needs.
• Operationalizing Decarbonization Efforts
  CERius automates the accurate collection of greenhouse gas (GHG) emissions data, delivering meaningful insights and actionable opportunities for reducing carbon footprints.
• Accelerated Integration of Renewable Energy
  Pre-configured workflows, real-time analytics, and predictive modeling help energy companies onboard sustainable energy assets more quickly.
• Maximizing Investments with Cloud-Based Tools
  With a comprehensive end-to-end approach, companies can optimize operations, reduce costs, and enhance returns through continuous improvement strategies.

A Collaborative Vision for Decarbonization

Scott Reese, CEO of GE Vernova’s Electrification Software division, emphasized the critical role of cloud-based solutions in navigating the complexities of the energy transition:
“Our extended collaboration with AWS underscores our commitment to delivering digital solutions that enhance reliability, reduce costs, and drive measurable progress toward energy goals.”

AWS’s Scott Sanderson added:
“This partnership redefines asset performance and emissions management, helping customers innovate, reduce their carbon footprint, and achieve financial sustainability.”

Real-World Impact

Global energy leader AES has already seen transformative benefits through GE Vernova’s APM SaaS solution. According to Michelle Legge, Senior Reliability Engineer at AES:
“APM’s predictive analytics, real-time monitoring, and intuitive interface have significantly improved our efficiency and reliability. Its scalability ensures we adapt seamlessly to evolving needs while maintaining peak performance. This collaboration is pivotal in achieving our mission of sustainable energy delivery.”

Industry Leadership

GE Vernova’s solutions continue to earn recognition. The company was named a Leader for the third consecutive time in Verdantix’s Green Quadrant: APM Solutions 2024 report, underscoring its commitment to innovation and sustainability.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy leader comprising Power, Wind, and Electrification segments, supported by accelerator businesses. With over 130 years of expertise, GE Vernova is dedicated to electrifying the world and decarbonizing energy systems. Headquartered in Cambridge, Massachusetts, the company operates in over 100 countries with 75,000+ employees. Its mission, The Energy to Change the World, drives its commitment to affordable, reliable, and sustainable energy.

Forward-Looking Statements

This document includes forward-looking statements based on current expectations. GE Vernova assumes no obligation to update these statements unless required by law.

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New High-Voltage Direct Current (HVDC) Competence Center expands Berlin footprint to create a key hub for GE Vernova’s Electrification Systems business in Europe

• New resources in Berlin will help speed decarbonization and electrification goals across Germany, Europe, and beyond
• Growth will bring an estimated 500 new highly skilled jobs to the region

Berlin, Germany (November 6, 2024) – GE Vernova Inc. (NYSE: GEV) today announced the expansion of its Electrification facility in Berlin with the opening of a High Voltage Direct Current (HVDC) Competence Center. The center will develop leading edge technology to speed the energy transition by improving grid stability and integrating more renewable energy across Germany and Europe while also supporting HVDC projects worldwide.

HVDC systems are essential for achieving both electrification and decarbonization goals. The HVDC center will develop and test technology to enable the efficient transmission of bulk power over long distances or from offshore submarine links, simplify the integration of renewable energy into power grids, and connect multiple HVDC transmission links.

The addition of the HVDC Competence Center positions the Berlin facility as a key hub for GE Vernova’s Electrification Systems businesses in Europe, expanding GE Vernova’s capacity to support regional and global growth in Grid Solutions, Power Conversion, and Solar and Storage and helping to deliver the growing Electrification backlog.

“The world’s future is electric, and electrification is essential for achieving a net zero emissions future,” said Philippe Piron, CEO of Electrification Systems at GE Vernova. “The expansion of our Berlin center is a significant step towards advancing reliable, affordable, and decarbonized energy and supporting the rapid growth of GE Vernova’s Electrification segment. As a key Electrification hub for GE Vernova in Europe, the Berlin site will drive innovation in grid solutions, power conversion, and renewable energy integration. This investment reinforces our commitment to modernizing energy systems, supporting Germany’s energy transition, and leading the electrification and decarbonization of the global energy ecosystem.”

Supporting Germany’s Energy Transition

Operating in Germany for more than 100 years, GE Vernova is dedicated to driving the country’s net zero efforts through advanced infrastructure technologies and services. GE Vernova’s robust presence in Germany and across Europe supports its ability to work across borders from the North Sea to Eastern Europe.

The launch of the center and the investment in HVDC technology aligns with Germany’s ambition to advance its energy transition. That transition will require major grid infrastructure upgrades and investment in the System Stability Roadmap. This government initiative seeks to ensure a resilient and stable power system as Germany moves toward generating at least 80% of its electricity from renewable sources by 2030.

Driving Electrification in Europe

GE Vernova is at the forefront of the energy transition as Europe seeks to decarbonize while meeting growing demand for electricity. GE Vernova recently entered into an innovation agreement with four German Transmission System Operators (TSOs) to design a Multi-Terminal/Multi-Hub High-Voltage Direct Current (HVDC) connection solution, marking a significant milestone in developing a future high-voltage grid for Germany and Europe’s energy transition. Furthermore, GE Vernova is actively engaged with TenneT on a 2-gigawatt (GW) High Voltage Direct Current (HVDC) offshore transmission system program in Germany and the Netherlands, part of a five-year Framework Cooperation Agreement signed in March 2023.

The HVDC Competence Center will support these agreements, as well as others in its growing order backlog, and enable other efforts to integrate renewable energy into the grid, reaffirming GE Vernova’s commitment to innovative solutions that address the region’s evolving grid needs.

GE Vernova also recently announced a doubling of production capacity at its Stafford, UK plant to meet the growing global demand for HVDC technology.

Creating Jobs and Driving Progress

As part of its growth plans in Germany, GE Vernova expects to have created around 500 new highly skilled jobs for engineers, project managers and other support staff in Berlin from 2023 to the end of 2025. New job opportunities are planned to open each quarter with 60 jobs posted currently and more than 200 to come. These roles will be instrumental in advancing electrification technologies and enhancing the company’s engineering and technical capabilities, positioning the Berlin Electrification facility as a major contributor to the development of energy solutions across the region.

Inauguration Event

To commemorate the opening of the HVDC Competence Center, GE Vernova hosted an open dialogue about the pressing challenges of today’s grid and energy landscape, inviting speakers from the Federal Ministry for Economic Affairs and Climate Action and the Senate Department for Economic Affairs, Energy and Public Enterprises, as well as representatives from GE Vernova to discuss Germany’s energy future and its path toward a sustainable and reliable energy supply.

GE Vernova is dedicated to advancing Germany’s energy transition through advanced infrastructure technologies, services, and a robust presence of over 25,000 employees across Europe. With nine locations across Germany, GE Vernova conducts production, research, and development focused on energy transition solutions, including onshore and offshore wind turbines, transformers, medium and low voltage converters, and hydrogen-capable gas-fired power plants.

Forward Looking Statements

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements address GE Vernova’s expected future business and financial performance, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the global supply chain and world economy.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Electrification segment includes Grid Solutions, Power Conversion, Solar and Storage Solutions, —collectively referred to as Electrification Systems —and digital technologies, referred to as Electrification Software. The solutions offered by this segment are essential for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption.

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• Pioneering FEED Studies by GE Vernova Targeting Carbon Reduction in Saudi Arabia
• GE Vernova has successfully conducted a series of Front-End Engineering Design (FEED) studies focused on reducing carbon emissions at three power plants in Saudi Arabia. These plants, which utilize GE Vernova’s 7E and 7F gas turbines, were evaluated for their potential to lower emissions and enhance sustainability.
• The studies explored the feasibility of blending hydrogen at up to 32% by volume with natural gas and identified necessary modifications to optimize the performance of these power generation assets.

Innovative Carbon Capture Technologies Proposed to Optimize Cost Efficiency

The assessment of carbon capture technologies suggested that the integration of an Exhaust Gas Recirculation (EGR) system could result in over 7% reduction in total costs associated with carbon capture facilities. Additionally, the EGR system could save approximately 6% in annual operational expenses for carbon capture, based on the specific site conditions evaluated in the study.

Al Khobar, Saudi Arabia (November 4, 2024) – GE Vernova Inc. (NYSE: GEV), in collaboration with Saudi Arabia’s Ash Sharqiyah Operations & Maintenance Company (ASHOMCo), has finalized three FEED studies aimed at assessing the potential for reducing net carbon emissions at three cogeneration plants. These facilities, powered by GE Vernova’s advanced 7E and 7F gas turbines, deliver up to 920 Megawatts (MW) of combined power and produce 1,400 tons per hour of steam—sufficient to power an average of 920,000 Saudi homes.

“We are committed to accelerating solutions that can retrofit existing power plants to align with stringent carbon emissions standards. This partnership with GE Vernova demonstrates our shared vision for a sustainable energy future,” said Rob Hayes, Executive Manager at ASHOMCo. “GE Vernova’s comprehensive study aimed at reducing the carbon footprint of these plants is a significant step forward.”

Hydrogen Readiness and Carbon Capture for a Cleaner Future

GE Vernova conducted thorough assessments to improve the performance and cost-efficiency of potential Carbon Capture, Utilization, and Sequestration (CCUS) systems at these facilities. The 7E and 7F gas turbines are already capable of operating with hydrogen blends, and with certain modifications to the standard combustors, they can accommodate up to 100% hydrogen.

The FEED studies determined that blending up to 32% hydrogen with natural gas at these plants is feasible, with recommendations for adjustments to the existing combustion systems to reach this target. Additionally, the studies evaluated retrofitting options to capture up to 95% of the plants’ carbon dioxide (CO₂) emissions.

Optimizing Carbon Capture with Exhaust Gas Recirculation (EGR)

The studies concluded that implementing GE Vernova’s EGR system could decrease the total costs of installing a carbon capture system by over 7% compared to traditional methods. Moreover, it could reduce the operational expenses of carbon capture by 6% annually under the site-specific conditions analyzed.

“This landmark carbon capture assessment is the first of its kind in Saudi Arabia,” stated Joseph Anis, President & CEO of GE Vernova’s Gas Power division for Europe, the Middle East, and Africa. “Our collaboration with ASHOMCo showcases our commitment to advancing the region’s energy goals. Together, we aim to adopt more sustainable combustion fuels like hydrogen and implement cutting-edge carbon capture technologies to support ASHOMCo’s decarbonization efforts.”

Forward-Looking Statements

This document includes forward-looking statements related to future events, which are inherently uncertain. These statements often concern GE Vernova’s expected business and financial performance, potential product outcomes, and market conditions. Forward-looking statements may include terms such as “expect,” “anticipate,” “plan,” “believe,” and other expressions of potential future outcomes.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy leader comprising the Power, Wind, and Electrification segments. Drawing on over 130 years of industry expertise, GE Vernova is uniquely positioned to drive the energy transition by electrifying the world while working to decarbonize it. With a global workforce of over 75,000 across 100+ countries, the company focuses on delivering sustainable and secure energy solutions.

Headquartered in Cambridge, Massachusetts, GE Vernova’s Gas Power business specializes in high-efficiency, natural gas-powered technologies and decarbonization solutions, boasting the industry’s largest installed base of approximately 7,000 gas turbines. The company’s mission is captured in its name: “Ver” signifies Earth’s green ecosystems, and “Nova,” from the Latin “novus,” symbolizes a new era of low-carbon energy.

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GE Vernova Showcases Innovations and Insights at ADIPEC 2024 in Abu Dhabi. GE Vernova is participating in ADIPEC 2024, held from November 4 to 7 at the Abu Dhabi National Exhibition Center (ADNEC), UAE. Located at Stand 7135 in Hall 7, the company is set to feature technologies aimed at delivering secure, reliable, and affordable electricity globally. The event will also provide a platform for engaging discussions on topics such as hydrogen’s role in energy, accelerating the net-zero transition, future energy grids, and financing the energy transition.

Whitepaper Release: Strategies for Securing Smart Grids

A highlight of GE Vernova’s presence at ADIPEC is the launch of its whitepaper, “Securing Smart Grids: Strategies and Best Practices”. The document underscores the increasing role of software in managing grids to improve security, resilience, and reliability. It addresses critical challenges posed by the rising frequency of cyberattacks on digitalized energy networks. Notably, corporate networks experienced a 30% surge in weekly attacks during Q2 2024 compared to the same period in 2023.

The whitepaper offers actionable recommendations, including:

• Using AI and machine learning to enhance grid security
• Employing secure communication protocols
• Implementing best practices such as zero-trust architecture, patch management, and asset management
• A UAE-based case study showcasing a tailored cybersecurity solution to reduce risks and improve operational resilience

Driving Grid Modernization for a Sustainable Energy Future

“The transformation of energy grids is critical for optimizing operations, ensuring a consistent and secure electricity supply, and accommodating renewable energy integration,” said Bernard Dagher, Chief Strategy & Growth Officer, GE Vernova Grid Solutions, Middle East & Africa. Dagher emphasized GE Vernova’s commitment to partnering with stakeholders in the energy sector to implement robust cybersecurity strategies and prevent disruptions.

A Legacy of Empowering Energy Infrastructure

GE Vernova, which became an independent company listed on the NYSE as GEV on April 2, 2024, leverages over 130 years of expertise in energy solutions. Its portfolio includes 55,000 wind turbines and 7,000 gas turbines, collectively generating around 25% of the world’s electricity. In the Gulf Cooperation Council (GCC) region, the company has played a pivotal role in enhancing energy infrastructure, promoting localization, and supporting national initiatives like Saudi Vision 2030. Key investments include the GE Manufacturing and Technology Center in Dammam, Saudi Arabia, where the first H-Class gas turbine was produced in July 2024, as well as facilities in Kuwait and the UAE.

Interactive Displays and Expert Insights at ADIPEC 2024

Visitors to GE Vernova’s stand at ADNEC will explore cutting-edge technologies that contribute to electrification and decarbonization efforts worldwide. A team of industry experts will be available to discuss solutions and answer questions, reinforcing GE Vernova’s leadership in shaping the future of energy.

About GE Vernova

GE Vernova, Inc. (NYSE: GEV), headquartered in Cambridge, Massachusetts, is a global energy company dedicated to electrification and decarbonization. With a workforce of 75,000 across 100+ countries, the company is at the forefront of the energy transition. Through its Power, Wind, and Electrification segments, GE Vernova aims to deliver affordable, sustainable, and secure energy solutions that empower economies and improve quality of life.

Grid Solutions for a Decarbonized Future

The Grid Solutions division specializes in advanced transmission and distribution technologies, ensuring efficient power flow from generation to consumption while supporting global decarbonization efforts.

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• Worley Chemetics, a Canadian firm, has also joined the BWRX-300 qualified supplier network.

WILMINGTON, North Carolina (October 31, 2024) — GE Vernova’s Nuclear division, in collaboration with GE Hitachi Nuclear Energy (GEH), has announced its selection of Canada-based Worley Chemetics. This partnership involves leveraging Worley Chemetics’ fabrication facility in Pickering, Ontario, to design and produce the isolation condenser system for the BWRX-300 small modular reactor (SMR), which will be the first grid-scale SMR in North America.

“The isolation condenser system is a vital passive safety feature of the BWRX-300 design, and we are excited to collaborate with Worley Chemetics on a manufacturing solution that upholds the highest standards of safety, quality, and performance,” stated Sean Sexstone, Executive Vice President of Advanced Nuclear at GEH. “This partnership aims to enhance Ontario’s nuclear supply chain and stimulate economic growth in the area.”

Andrew Barr, President of Worley Chemetics, shared, “We’re thrilled to partner with GE Hitachi in addressing the challenges of the energy transition while advancing nuclear solutions in Canada. This collaboration builds upon Worley Chemetics’ 60-year history of delivering sustainable process technologies, along with our newly acquired ASME nuclear certification and the recent expansion of our specialized alloy fabrication capabilities in Ontario.”

Additionally, it was announced that Worley Chemetics has been added to the BWRX-300 qualified supplier network. This network was created to ensure a reliable, cost-efficient, and innovative process for the BWRX-300’s production and commercialization. Suppliers that meet established criteria, fulfill customer requirements, and demonstrate a commitment to investing in BWRX-300 supply chain capabilities are eligible for inclusion. Worley Chemetics joins BWXT Canada Ltd. in the group, with more members expected to be announced soon. GE Vernova’s extensive global presence and partnerships position it to lead in SMR supply chain development.

Ontario Power Generation (OPG), GEH, AtkinsRéalis, and Aecon Construction Group have signed a contract to construct the inaugural BWRX-300 at OPG’s Darlington site. Preliminary site preparation is complete, with construction anticipated to begin in 2025 and commercial operation slated for late 2029. A total of four 300 MW units are planned for Darlington. OPG’s extensive operational expertise, combined with its proven record of completing nuclear refurbishments on time and within budget, along with GEH’s nuclear proficiency, sets a promising foundation for replicating this model in other regions.

The BWRX-300 plays a crucial role in GE Vernova’s commitment to energy transition. In addition to aiding customers in achieving decarbonization goals, the BWRX-300 is designed to lower construction and operational costs. This reactor leverages a unique blend of existing fuel, plant simplifications, reliable components, and a design based on an NRC-certified reactor blueprint.

Forward-Looking Statements

This document contains forward-looking statements — predictions about future events that inherently involve uncertainties. Such statements often pertain to GE Vernova’s projected business performance, financial outlook, product capabilities, service impact, and potential outcomes. These projections typically include terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “would,” “estimate,” “forecast,” “target,” or “range.” By their nature, these statements involve varying degrees of uncertainty, especially regarding planned projects, investments, anticipated results, and the effects of macroeconomic conditions on the company’s operations and the global economy.

About GE Vernova

GE Vernova (NYSE: GEV) is a globally oriented energy enterprise that encompasses 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 simultaneously pursuing decarbonization. GE Vernova assists clients in powering economies and delivering essential electricity that underpins health, safety, security, and quality of life. Headquartered in Cambridge, Massachusetts, U.S., the company employs approximately 75,000 people across more than 100 countries. Driven by its mission, “The Energy to Change the World,” GE Vernova aims to provide a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Nuclear Energy division, through its global partnership with Hitachi, is a leading provider of nuclear fuel bundles, services, and advanced reactor designs. This includes boiling water reactors (BWR) and small modular reactors like the BWRX-300, one of the simplest yet most innovative BWR designs. The nuclear fuel business, Global Nuclear Fuel (GNF), is a joint venture led by GE Vernova with Hitachi, Ltd., operating primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

The company’s mission is reflected in its name — retaining “GE” as a symbol of legacy and quality, while “Ver” / “verde” signifies Earth’s vibrant ecosystems, and “Nova,” derived from the Latin “novus,” indicates a new era focused on lower carbon energy.

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• GE Vernova has supplied three 9HA.02 heavy-duty gas turbines to Guangdong Energy Group Co., Ltd. for the Dongguan Ningzhou power plant, marking it as one of China’s largest gas power facilities.

GUANGDONG PROVINCE, CHINA (October 24, 2024) – Following the successful launch of Guangdong Energy Group Co., Ltd.’s Huizhou power plant, GE Vernova Inc. (NYSE: GEV) announced the commencement of operations at the Dongguan Ningzhou combined cycle power plant in Guangdong Province. Equipped with three advanced 9HA.02 gas turbines, the facility contributes up to 2.4 gigawatts (GW) to the grid, in addition to the 1.34 GW provided by the Huizhou power plant, also powered by GE Vernova’s HA technology.

“GE Vernova has been our trusted partner in transitioning from coal to natural gas. We believe their technology will continue to support our journey towards near net-zero carbon emissions,” commented a representative of Guangdong Energy Group.

With ambitions to peak carbon emissions by 2030 and achieve carbon neutrality by 2060, China is accelerating efforts to reduce coal’s share in its energy mix. Projects like the Dongguan Ningzhou power plant align with these goals and local policy reforms in the Greater Bay Area aimed at coal-to-gas energy transition.

GE Vernova’s HA technology offers one of the lowest carbon emissions rates in the industry, enabling operators like Guangdong Energy Group to reduce fuel consumption while lowering overall emissions.

“Dongguan Ningzhou is a key milestone in advancing sustainable, lower-carbon energy generation in Guangdong Province, located north of Hong Kong,” said Xu Xin, Gas Power Services China ITR Leader at GE Vernova. “Today, we celebrate the successful start of operations at one of the largest gas plants in China. This achievement supports the region’s shift from coal to gas, reducing emissions. The project’s timely and safe completion was made possible through exceptional collaboration with our local partner, Harbin Electric, which provided the steam turbine, generator, and balance-of-plant equipment.”

By leveraging GE Vernova’s H-Class technology, the power plant significantly reduces emissions, producing up to 60% less carbon compared to coal-powered plants of the same size. Additionally, GE Vernova’s gas turbines can currently burn up to 50% hydrogen by volume when blended with natural gas, with a roadmap for future 100% hydrogen utilization, further supporting decarbonization efforts.

Pioneering Gas Power Technology in China

With over 130 years of expertise, GE Vernova was the first international manufacturer to introduce gas turbine technology in China. Serving more than 110 gas power plants across the country, the company provides a comprehensive suite of technologies and services covering the entire lifecycle of gas power assets.

Forward-Looking Statements

This document includes forward-looking statements regarding GE Vernova’s anticipated business performance, product impact, and future market conditions. These statements inherently involve uncertainty and often use terms such as “expect,” “plan,” “anticipate,” or “estimate” to indicate projected outcomes. Actual results may differ based on various factors, including global economic and supply chain conditions.

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 75,000 employees across 100+ countries, the company is committed to driving the energy transition by delivering affordable, sustainable, and secure energy solutions. GE Vernova’s Gas Power division provides advanced gas turbine technologies and services, including decarbonization solutions, positioning itself as a leader in the global energy sector.

The name “GE Vernova” reflects its mission: “GE” stands for its legacy of quality and innovation, “Ver” signals green and lush ecosystems, and “Nova” denotes a new era of cleaner energy solutions.

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LAGOS, Nigeria, October 24, 2024 – GE Vernova Inc. (NYSE: GEV) has announced the deployment of its GridOS® orchestration software at the newly established Information and Coordination Centre (ICC) in Abomey-Calavi, Benin. This development supports the West African Power Pool (WAPP), a pioneering initiative aimed at transforming the energy infrastructure of the region. The ICC, which has just been inaugurated, will act as the centralized hub for coordinating energy exchange among the mainland member countries of the Economic Community of West African States (ECOWAS). It will oversee the interconnected power grids of 14 nations: Benin, Burkina Faso, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. This achievement is a crucial step toward establishing a unified power market in West Africa, fostering a more reliable, sustainable, and affordable energy system.

According to the International Energy Agency (IEA) Africa Energy Outlook 2022 report¹, Africa’s GDP is expected to grow by an average of 4.6% annually between 2022 and 2040, which will lead to a 2.8% annual increase in energy demand. This growth is expected to double electricity consumption by 2040. By expanding power capacity, improving forecasting tools, and ensuring a seamless balance between energy generation and demand across borders, the ICC and the West Africa Power Pool are addressing the gap between growing energy needs and reliable supply.

The ICC is a state-of-the-art facility equipped with advanced electric grid management technologies. GE Vernova’s GridOS software portfolio plays a key role in ensuring secure and reliable grid orchestration. This software is designed to provide utilities with the resiliency and flexibility required for a more sustainable energy grid. Several intelligent grid applications from the GridOS portfolio are deployed at the ICC, including:

• Energy Management System (EMS) for dispatch optimization
• Wide Area Monitoring System (WAMS) for grid stability
• Advanced Market Management System to facilitate power trading between ECOWAS countries

Additionally, GE Vernova has upgraded the ICC’s technology platform with its GridOS forecasting solution, which improves the integration of Variable Renewable Energy (VRE) into the market. Through advanced forecasting and ramping tools, this system enhances the value of renewable energy by providing near real-time insights into energy flows across the WAPP network. This enables engineers to monitor, analyze, and optimize power distribution more effectively.

“We are proud to partner with WAPP in advancing power generation and transmission infrastructure, as well as facilitating energy exchanges among ECOWAS nations,” said Mahesh Sudhakaran, General Manager for GE Vernova’s Grid Software division. “Our GridOS software equips the ICC with modern tools to automate grid operations, boosting the efficiency of energy transactions across the region and helping to solve energy challenges within the ECOWAS zone.”

GE Vernova has been collaborating with national utilities and regional power pools in Africa for years, assisting them in adopting cutting-edge technologies for grid modernization. In November 2022, the Southern African Power Pool (SAPP) opened a new Coordination Control Center, featuring the latest Energy Management System from GE Vernova’s Grid Software division. With additional projects in progress, GE Vernova is proud to contribute to Africa’s ongoing energy transition.

Forward-Looking Statements

This document contains forward-looking statements, which address potential future events or conditions that are inherently uncertain. These statements often refer to GE Vernova’s expected business and financial performance, product outcomes, and service impacts. Words such as “expect,” “anticipate,” “intend,” “believe,” “plan,” “seek,” “estimate,” “forecast,” “will,” and others signal forward-looking statements that reflect uncertain matters, including planned transactions, investments, and the effects of macroeconomic factors on business operations, financial results, and the global supply chain.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company, encompassing Power, Wind, and Electrification segments, supported by accelerator businesses. With more than 130 years of experience addressing global challenges, GE Vernova is well-positioned to lead the energy transition, focusing on electrification and decarbonization. GE Vernova is dedicated to powering economies and providing electricity essential to health, safety, security, and quality of life. Based in Cambridge, Massachusetts, with over 75,000 employees in more than 100 countries, GE Vernova is committed to delivering a more affordable, reliable, sustainable, and secure energy future. For more information, visit GE Vernova’s website and LinkedIn. The company’s Electrification Software division drives the adoption of intelligent applications and insights, accelerating decarbonization across the energy ecosystem. GE Vernova’s Grid Software and GridOS® portfolio are trusted by utilities worldwide to create more sustainable, reliable, and affordable energy grids.

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• Utilizing an Exhaust Gas Recirculation (EGR) system within a carbon capture system can lead to more than 6% savings
• The DOE-funded study evaluated integrating the James M. Barry Unit 6 natural gas combined-cycle (NGCC) power plant with Linde’s Gen 2 carbon capture solution based on BASF’s OASE® blue gas treatment technology
• Study shows significant potential benefits of capturing 95% of carbon dioxide (CO2) through the use of EGR, while additional gas turbine upgrades could maintain the power plant’s existing output

ATLANTA, GA (October 15, 2024) – GE Vernova Inc (NYSE: GEV) today announced the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management released the official findings of the GE Vernova-led front-end engineering design (FEED) study, “Retrofittable Advanced Combined-Cycle Integration for Flexible Decarbonized Generation.”

The study evaluated retrofitting Southern Company subsidiary Alabama Power’s James M. Barry Electric Generating Plant, located in Bucks, Alabama, with technology capable of capturing up to 95% of the plant’s CO2 emissions. It demonstrated that the integration of GE Vernova’s Exhaust Gas Recirculation (EGR) system could lead to a reduction of more than 6% of the total cost of the carbon capture facility, as compared to installing carbon capture without the EGR system.

The GE Vernova-led study was completed in collaboration with Southern Company, Linde, BASF, and Kiewit, and explored the benefits of close integration between a natural gas combined-cycle (NGCC) plant and a carbon capture system.

GE Vernova’s measures and technologies explored in the study included the use of NGCC steam in the carbon capture system facility, potential gas turbine upgrades, installing NGCC and carbon capture control systems, and employing GE Vernova’s EGR system, which reintroduces part of the exhaust gas back into the gas turbine inlet.

The study’s integrated approach helped reduce the size and costs of the carbon capture system by halving the number of absorber towers, improving the efficiency and flexibility of the plant, and potentially increasing its power output.

“GE Vernova is grateful for the Department of Energy’s support of this study, the first of its kind to explore EGR technology applied in a gas power carbon capture plant” said Jeremee Wetherby, GE Vernova Carbon Solutions Leader. “We developed a holistic approach considering various integration measures building on our long history and expertise in power plant engineering, operation, upgrades and controls. Carbon capture is a crucial pathway to lowering carbon emissions from power generation to near-zero levels, and we are pleased with the benefits projected by the study – which naturally can vary from site to site but represent a valuable indicator of the possibilities at similar sites.”

The study demonstrated that the effects of adding a carbon capture system to an NGCC power plant could be reduced through a series of integration measures, including the EGR system. GE Vernova has developed EGR systems for two decades, initially for nitrogen oxide (NOx) control and part-load efficiency benefits. In addition to this study, GE Vernova has demonstrated the commercial readiness of F- and H-class combustors operating with EGR at GE Vernova’s test facility in Greenville, South Carolina.

This study recognized the potential of an EGR system to deliver the following benefits as compared to a non-EGR system:

• Large reduction of carbon capture facility footprint and cost of absorber
• Lower operating costs due to reduced amine degradation
• Less energy-intensive separation due to higher concentration of CO2 in flue gas directed to the carbon capture system
• More steam turbine power output because of lower steam consumption
• The collaboration with Southern Company, Linde, BASF, and Kiewit was crucial for the success of this study, which showed that GE
• Vernova’s integration techniques can help reduce plant capital costs, energy consumption, and operating expenses.

“Southern Company is pleased this desktop engineering study showed that applying carbon capture for natural gas combined-cycle generation may create options and long-term value for customers in a net-zero future,” said Dr. Mark S. Berry, Southern Company Senior Vice President of Research, Environment And Sustainability. “We congratulate GE and the other members of the FEED study team for employing unique technology approaches that could advance the future deployment of carbon capture as a clean energy solution for the customer and communities we serve.”

“As a provider of CO2 capture technology, we commend DOE’s leadership in advancing gas power decarbonization technology towards a clean and reliable energy future. The results of this FEED study underpin Linde’s belief that a collaborative approach between technology providers, end-users, and other stakeholders is essential in driving innovation and cost reduction in CO2 capture. We are committed to working with DOE and other partners to help decarbonize industry,” said Dominic Cianchetti, Senior Vice President, Region Americas, Linde.

“Kiewit Engineering Group’s participation in the GE Vernova-led study underscores our dedication to advancing innovative solutions for carbon capture technology. By leveraging our engineering and construction expertise, we contributed to the integration of the Exhaust Gas Recirculation (EGR) system, achieving significant cost reductions and efficiency improvements. This study highlights the potential for retrofitting existing power plants to meet stringent carbon emission standards, a vital step towards sustainable energy,” Kevin Needham, President-Power Engineering, Kiewit Engineering Group Inc.

With the goals of improving affordability, reliability, load flexibility, and significantly reducing carbon emissions, GE Vernova’s NGCC and carbon capture integration techniques can be applied across more than 1,600 F-Class gas turbines worldwide, delivering approximately 300 gigawatts (GW) of electricity daily.

Disclaimer: “This report was prepared as an account of work sponsored by an agency of the United States Government. Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof.”

Forward Looking Statements

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

About GE Vernova

GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy.

About Southern Company

Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy company with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers’ and communities’ needs while advancing our goal of net zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture and hiring practices have earned the company national awards and recognition from numerous organizations, including Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, Human Rights Campaign and more.

About Linde

Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet. The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde’s industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

About BASF

With more than 50 years of experience, BASF offers its customers efficient gas treating solutions for a variety of applications such as natural gas, synthesis gas, and biogas. Worldwide, these solutions have been proven and demonstrated in about 500 reference plants. BASF markets its range of gas treating technologies, the corresponding solvents and complete technical services including the digital platform OASE connect under the brand OASE® – Gas Treating Excellence by BASF.

About Kiewit

Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada and Mexico. Kiewit offers construction and engineering services in a variety of markets including transportation; oil, gas and chemical; power; building; water/wastewater; industrial; mining; and marine. Kiewit had 2023 revenues of $17.1 billion and employs 31,100 staff and craft employees.

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• The modernization of Mass Group Holding’s Besmaya power plant forms a key element in a wider initiative by Iraq’s Ministry of Electricity to update the country’s power generation infrastructure and address the growing demand for energy.
• With the successful completion of Phase 1 and the commencement of Phase 2 Advanced Gas Path (AGP) upgrades, the modernization is expected to boost the power plant’s output by 6%, while also enhancing fuel efficiency.
• An eight-year service agreement for Phase 3 has been announced.

Dubai, United Arab Emirates (October 10, 2024) — During a ceremony held in Dubai, United Arab Emirates, Mass Group Holding (MGH) and GE Vernova Inc. (NYSE: GEV) revealed major advancements in the modernization of the 4.5-gigawatt (GW) Besmaya Power Plant in Baghdad, Iraq, the largest power plant in the country. GE Vernova has successfully completed Phase 1 AGP upgrades on four 9F.04 gas turbines and has begun Phase 2 upgrades on an additional four turbines of the same model.

During the event, both GE Vernova and MGH also unveiled an eight-year services agreement to support the Phase 3 upgrades, which will incorporate four GE Vernova 9F gas turbines. This agreement was signed in the second quarter of 2024 and complements the operations and maintenance (O&M) agreements, as well as the long-term service contracts GE Vernova previously secured for Phases 1 and 2 of the project.

The 9F Phase 1 AGP upgrades, installed at the Besmaya plant by GE Vernova, deliver top-tier performance and operational flexibility. These upgrades increase efficiency and availability, while boosting output by up to 6% and improving fuel consumption efficiency, thus extending the lifespan of the equipment. Once Phase 2 is completed by the first quarter of 2025, the eight 9F turbines are expected to reduce carbon dioxide (CO₂) emissions by as much as 477,000 metric tons annually, for the same level of power generation.

Ziad Ali Fadhil, Iraq’s Minister of Electricity, stated: “This modernization aligns with our strategic objectives and marks a significant achievement in Iraq’s energy transition. It enables increased electricity generation and enhances fuel efficiency, which will, in turn, reduce carbon intensity.”

During the ceremony, Ahmed Ismail Saleh, Chairman of Mass Group Holding, remarked: “The Besmaya power plant, in collaboration with Iraq’s Ministry of Electricity, is vital in providing electricity for the people of Iraq, as well as various commercial and industrial sectors. We are committed to further enhancing efficiency, flexibility, and sustainability within Iraq’s energy sector. This modernization project is part of the Iraqi Ministry of Electricity’s broader strategy to ensure a more reliable and sustainable electricity supply, essential for the nation’s economic development.”

Steve Kessinger, Vice President and CEO of GE Vernova’s Gas Power Global Services, noted: “The upgrades at Phase 1 of Besmaya Power Plant represented our first-ever ‘Live Outage’ in Iraq, a new digital approach that enhances the field execution experience for both our teams and customers. The work was completed ahead of schedule and has significantly improved the plant’s efficiency and performance. We look forward to continuing our collaboration with Mass Group Holding to achieve even greater results.”

“For almost two decades, GE Vernova has worked closely with Mass Group Holding in Iraq, providing advanced technology to four of the group’s power plants in Besmaya, Erbil, Sulaymaniyah, and Dohuk. Together, these facilities contribute approximately 9 gigawatts to Iraq’s overall power capacity,” said Joseph Anis, President and CEO of Gas Power at GE Vernova for Europe, the Middle East, and Africa. “GE Vernova has been actively involved in Iraq for over five decades and remains dedicated to facilitating the country’s transition to lower-carbon solutions that benefit its people. This includes modernizing the electrical grid and driving the digital transformation of power generation and transmission.”

Over the years, GE Vernova has contributed up to 19 GW to Iraq’s grid, constructed and energized 30 substations, and completed the first phase of Iraq’s electricity grid connection with Jordan. The company has secured over US$3 billion in financing for energy projects and continues to invest in local talent development and workforce training. By working closely with Iraq’s Ministry of Electricity and private sector entities such as Mass Group Holding, GE Vernova remains committed to advancing the nation’s energy sector and supporting its economic growth.

Forward-Looking Statements

This document contains forward-looking statements, which pertain to future events that inherently involve uncertainty. These statements often relate to GE Vernova’s projected business and financial performance, the expected performance of its products, the impact of its services, and the potential outcomes they may generate. They frequently use terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements address matters that are inherently uncertain, such as planned transactions, investments, or projects and their expected outcomes, as well as the impact of market conditions and volatility on the company’s operations, financial results, and global supply chain.

About MASS Group Holding

Founded in 2006, Mass Group Holding is a global leader in electric power production, with a capacity of 9,000 MW in Iraq alone. The company plays an active role in meeting the growing worldwide demand for energy. While its focus remains on conventional energy, Mass Group has also expanded into renewable energy, investing in clean resources and upholding the principles of environmental sustainability.

Mass Group’s activities extend beyond energy, with significant investments in other vital sectors. In Iraq, where the company began its expansion, Mass Group established a cement factory with an annual capacity of 6 million tons, covering a quarter of the nation’s demand for this essential construction material. Additionally, the company has launched a steel factory with an annual production capacity of 1.25 million tons, bolstering Iraq’s industrial capabilities. Mass Group’s commitment to sustainable development in Iraq remains strong.

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