Newsarchive - GE Vernova

GE Vernova - GE Vernova

Wind Industry Profile of

GE Vernova

Newsarchive - GE Vernova 2

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GE proposes building two new offshore wind facilities in New York

01/27/2023

Facilities are contingent on company receiving sufficient orders in ongoing solicitations / One facility would build wind turbine blades and create approximately 650 direct jobs / Second facility, which would produce nacelles for offshore wind turbines, would create roughly 220 direct jobs / Together the facilities would create nearly 1,000 construction jobs and support approximately 1,400 indirect jobs

GE announces fourth quarter 2022 results

01/25/2023

Total orders $25.4B, +15%; organic orders +18% / Total revenues (GAAP) $21.8B, +7%; adjusted revenues* $21.0B, +11% organically* / Profit margin (GAAP) of 10.3%, +2,740 bps; adjusted profit margin* 10.3%, +290 bps organically* / Continuing EPS (GAAP) of $1.99, +$5.23; adjusted EPS* $1.24, +$0.42 / Cash from Operating Activities (GAAP) $4.6B, +$2.2B; free cash flow* $4.3B, +$0.6B

GE Announces Additions to GE Vernova Leadership Team

01/02/2023

GE has announced that GE Vernova, the company’s portfolio of energy businesses, has appointed three new roles to its leadership team late last year.

GE’s Haliade-X 14.7MW-220 turbine obtains full DNV type certificate

12/16/2022

Rigorous third-party certification process for Haliade-X successfully completed / Haliade-X becomes the largest wind turbine with a full type certification / 14.7MW-220 builds on the Haliade-X platform that has been validated with extensive prototype tests completed since 2019

GE Renewable Energy signs strategic partnership agreement with Hyundai Electric to support the growth of offshore wind in South Korea

12/14/2022

Hyundai Electric to build factory, invest in tooling, and hire and train local team to produce Haliade-X turbines and generators in South Korea GE to bring its offshore expertise and the Haliade-X technology while remaining prime contractor toward customers, plus supporting operational ramp-up with Hyundai Electric South Korea plans to bring online 12 GW of offshore wind by 2030

GE Renewable Energy selects Mammoet to supply onshore heavy lifting and transport for Dogger Bank Wind Farm

11/22/2022

Cranes will support staging of 277 sets of blades, nacelles, and towers at Able Seaton Port / Project will become largest offshore wind farm in world when complete

GE and IRENA sign collaborative agreement at COP27 to support the global climate change agenda

11/18/2022

GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to collaborate on a plan which will support both climate change and energy security. The agreement was signed by Francesco La Camera, Director-General of IRENA and Roger Martella, Chief Sustainability Officer of GE at the 27th Conference of the Parties of the UNFCCC (COP27) in Egypt.

GE announces third quarter 2022 results

10/26/2022

Strong GE Aerospace performance; planned spin-offs on track

GE Renewable Energy to supply another set of 81 turbines to Continuum Green Energy for 218 MW wind power projects in India

09/29/2022

GE Renewable Energy will supply, install and commission 81 units of its 2.7-132 onshore wind turbines for Continuum’s 218.7 MW wind power projects across Tamil Nadu and Madhya Pradesh, India / The wind farms will power various industries and commercial establishments in Tamil Nadu and Madhya Pradesh, India / GE Renewable Energy has received close to ~2 GW of 2.7-132 wind turbines orders over the past year in India

GE’s FACTS technology helps the City of Los Angeles move closer to its renewable energy goals

09/15/2022

A new contract for GE Renewable Energy’s Grid Solutions business will help Los Angeles significantly increase its grid transmission capacity and move closer to meeting its renewable energy goals / GE’s Flexible AC Transmission Systems (FACTS) will help provide system stability for renewable energy use while adding 475 MW of capacity / As grid challenges become more complex, GE’s Grid Solutions business continues to meet the growing power needs of transmission systems worldwide

GE Renewable Energy and Green Power Investment to develop onshore wind farm in Japan

09/08/2022

GE Renewable Energy to supply 19 of its 4.2-117 onshore wind turbines for a total installed capacity of 79.8 MW / The onshore wind turbines will power Green Power Investment’s Fukaura Wind Farm in Aomori, Japan

GE’s STATCOM system to improve grid stability in Germany

09/06/2022

Today’s transmission grids are expected to carry power in ways they were never originally designed to accommodate, resulting in utility and transmission network operators worldwide turning to GE’s STATCOM solution / GE’s Static Synchronous Compensator (STATCOM) technology will improve grid stability in Germany with an award from transmission system operator (TSO) 50Hertz Transmission GmbH for one of their critical substations / This win reinforces customer confidence in GE’s Reactive Power Compensation technologies and in GE’s execution capability to deliver complex projects within the context of the energy transition

Ignitis Gamyba Chooses GE Digital’s OPM Production Planning Software to Accurately Forecast Day-Ahead Electricity Trading

08/10/2022

OPM Production Planning can help to ensure secure, stable power while maximizing margins and managing risk with accurate capacity predictions and decision support / Software also helps Ignitis Gamyba to automate data transmission for more optimal planning of natural gas procurement and process organization

GE announces second quarter 2022 results

07/27/2022

Strong quarter; planned spin-offs on track

GE and KAPES awarded contract to power South Korea’s electric grid using latest HVDC technology

07/20/2022

GE and KAPES, a KEPCO-GE joint venture, to add a 500-MW high voltage direct current (HVDC) link to South Korea’s electric grid / The Shin-bupyeong project, located in Incheon west of Seoul, will relieve overload conditions, and strengthen the grid system / This latest contract award from KEPCO, in excess of USD $100 million, is the first project by GE and the KAPES consortium in South Korea using the newest Voltage-Sourced Converter (VSC) HVDC technology, and GE’s fifth VSC project in the world

GE Unveils Brand Names for Three Planned Future Public Companies

07/20/2022

All Three Companies will Continue to Benefit from GE Heritage

GE Renewable Energy and Arafura Resources sign Memorandum of Understanding (MoU) on Neodymium and Praseodymium (NdPr) Rare Earths

07/13/2022

Partnership will enhance supply of rare earth materials for offshore wind turbines key to energy transition / GE to negotiate the purchase of NdPr from Arafura’s Nolans Project / MOU signed during international energy forum, with formal agreement between the Governments of Australia and the United States to facilitate cooperation in securing supply chains for clean energy technologies.

GE, Inogen and Sertavul to build first Hybrid Wind + Solar project in Turkey

06/24/2022

Plant combines a 32 MW wind farm with a 30 MW solar plant / Project leverages compatibility of solar and wind power / First installation of GE’s 4.7 MW solar solution worldwide

GE acquires 49% stake in Continuum onshore wind farm in support of the energy transition in India

06/16/2022

GE Energy Financial Services invests via bespoke structured preferred equity in Continuum’s 148.5 MW Morjar wind power project in Gujarat, India / The project will be equipped with GE Renewable Energy’s 2.7-132 onshore wind turbines with COD expected in June 2022

GE strengthens agreement with Swiss export credit agency SERV to support the global energy transition

06/08/2022

SERV to mobilise diversified and competitive financing for GE power-generation technologies to help decarbonise the energy sector across emerging and developing markets.

GE introduces new Sierra platform, next-generation 3 MW onshore wind turbine designed specifically for the North America region

05/18/2022

3.0-3.4 MW onshore turbine featuring 140m rotor and variety of hub heights / Next generation of innovation with ease of install and reliability / High-tech two-piece blades enable improved logistics and serviceability

GE to launch new Renewable Energy Digital suite

05/17/2022

GE launches Lifespan, a new digital product portfolio enabling our customers to optimize renewable asset performance and operations across their fleet / Developed in consultation with operators to solve their biggest challenges / Will help connect operators with the information and insights required to seamlessly drive action across all aspects of their organization

GE completes one of power industry’s largest reactive power upgrades with 100% reliability

05/17/2022

GE has completed the largest Static Var Compensator (SVC) upgrade project for two of Norway transmission system operator Statnett’s substations / The trial run for both substations was executed without a single interruption of service, and the stations have continued their operation into commercial service / GE provides leading technological solutions to ever-evolving grid challenges, including the integration of more and more renewable energy, through successful implementation of its new “SmoothSine” modularized control software for SVC and STATCOM

GE Renewable Energy announces minority investment in COBOD International

05/06/2022

Investment will give GE Renewable Energy additional access to COBOD’s unique 3D printing technology / Builds on cooperation in place since 2019 / COBOD is providing GE Renewable Energy largest 3D concrete printer in world for use at R&D facility researching ways to print wind turbine towers onsite at wind farms

GE and HSM Offshore Energy sign MoU for AC offshore wind substation projects

05/05/2022

To respond to the increasing demand for turnkey delivery of offshore high-voltage substations in the rapidly growing offshore wind market, GE’s Grid Solutions business, a global power industry systems provider, and EPCIC (turnkey) platform and modules builder HSM Offshore Energy announced today that they have signed a Memorandum of Understanding (MoU) to partner on further AC projects in Europe and beyond. This MoU can help accelerate the energy transition by supporting reliable connections of offshore wind resources to the power grid.

GE announces first quarter 2022 results

04/27/2022

Improving services, orders, and cash while managing through current challenges; on track with plans to launch three independent investment-grade companies

GE Renewable Energy inaugurates 3D printing facility that will research more efficient ways to produce towers for wind turbines

04/22/2022

3D printer the size of a three story building can print tower sections up to 20 meters high First of its kind research in the US: experimenting with new production methods to make wind turbine towers more efficient and sustainable

GE Renewable Energy to reduce its carbon footprint in Europe through a Power Purchase Agreement with Forestalia

04/21/2022

Purchasing electricity from Forestalia’s El Coto wind farm in Spain which generates enough power to support more than 60% of GE Renewable Energy operations in Europe / The 12-year long PPA will reduce GE Renewable Energy’s emissions by ~13k tCO2e annually, 79% of its current carbon footprint from electricity in Europe / The agreement reflects GE Renewable Energy’s commitment to partnering with customers to advance the energy transition in Europe

GE awarded contract by ReNew Power to help develop renewable energy zones in India

04/11/2022

The contract is part of a planned interstate-based evacuation infrastructure that will create a 66.5 GW renewable energy zone in southwestern India / GE will build two 400 kV gas-insulated substations for ReNew Power in Karnataka / This is the third contract for GE’s Grid Solutions business with ReNew Power, demonstrating ReNew Power’s confidence in GE’s in-country advanced technology and service capabilities

GE Renewable Energy and Alfanar solidify ties with onshore wind project in Navarre, Spain

04/05/2022

GE Renewable Energy to supply and install 15 wind turbines for a total installed capacity of 53 MW / This is GE Renewable Energy and Alfanar’s second onshore wind project in Spain / GE Renewable Energy has installed and commissioned 1.1 GW in Spain over the past two years, contributing to the country’s goal of reaching 50 GW of wind installed capacity by the end of the decade