Algiers, Algeria (July 17, 2024) – GE Vernova Inc. (NYSE: GEV) today announced that it has secured a major order from Sonelgaz through their joint venture, GE Algeria Turbines (GEAT), to enhance Algeria’s grid infrastructure. The order, which was booked in the second quarter of 2024, involves GE Vernova supplying GEAT with high voltage (HV) equipment, components, and grid automation solutions for 134 substations by 2028. GEAT will integrate this equipment at its Ain Yagout facility in Batna, Algeria for Sonelgaz projects.

The contract follows the agreement signed between Sonelgaz and GE Vernova earlier this year to diversify GEAT's core business towards manufacturing of high and extra-high voltage substations and marks a substantial step forward in the collaboration between GE Vernova, Sonelgaz, and GEAT. The supplied equipment is expected to play a pivotal role in integrating renewable energy sources and ensuring a reliable power supply for Algeria's growing population and economy.

Mourad Adjal, CEO of Sonelgaz Group said: “This order is the result of the expansion of existing capabilities between Sonelgaz and GE Vernova, through the recent amendment of their joint venture to enable the deployment of grid solutions in addition to the production of high and extra-high voltage substation equipment to implement Algeria’s electricity transmission network development plan. It also represents the culmination of Sonelgaz’s efforts to support the national integration program by producing high quality and advanced technology equipment for the first time in Algeria and Africa, ensuring the transfer of expertise in this field to Algeria.”

Philippe Piron, CEO of GE Vernova's Electrification Systems businesses, commented, "Securing this major order is a testament to our commitment to advancing Algeria's energy infrastructure. We are excited to deliver our advanced grid solutions that will enhance grid efficiency and support Algeria's energy transition. This order reinforces our dedication to fostering local talent and creating job opportunities in the region.”

GE Vernova spun-off from General Electric Company (NYSE: GE) and began trading as an independent company on the New York Stock Exchange (NYSE) on April 2, 2024. In addition to the GEAT joint venture with Sonelgaz, the company has a strong legacy of contributions to the development of Algeria’s energy sector, providing power generation, transmission, and distribution solutions, as well as software applications, and employs over 300 people in the country.

###

Notes to Editors:

Forward Looking Statements

This press release 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. Learn more: GE Vernova and LinkedIn.

GE Vernova’s Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

About Sonelgaz Group

The Algerian Electricity and Gas Company (Sonelgaz) is an Algerian energy industrial group established in 1969. It is responsible for the production of electricity, and the transmission and distribution of electricity and gas across the entire Algerian territory. It includes 11 subsidiaries in its core businesses, industry, and services, as well as joint venture companies. Sonelgaz supplies the entire Algerian territory with electrical and gas energy, serving as a driver of economic and social development in Algeria. It currently serves nearly 12 million electricity customers and nearly 8 million gas customers. With a capacity of nearly 26,000 MW, Sonelgaz aims to expand internationally by developing interconnections with neighbouring countries and the southern shore of Europe. Moreover, Sonelgaz has been entrusted with the realization of the ambitious project to produce 15,000 MW of renewable energy by 2035. To achieve this, Sonelgaz has recently launched and awarded the execution of the first phase of this project, consisting of 3,200 MW.