This year’s annual United Nations climate summit, COP 29, is the first COP meeting to focus on finance in 15 years, and among the major agenda items delegates have been discussing are financial commitments by wealthier countries to help developing nations transition their energy infrastructure away from coal and other high-emissions sources and toward more renewable forms of energy.

The term “energy transition” might conjure up an image of steady technological change, with grids gradually replacing carbon-emitting fossil fuel plants with more sustainable renewables. But this narrative of a straight swap only tells half of the story. The other part of the energy transition phenomenon is the expansion of energy demand, on a massive scale.

On a cold December afternoon in 2015, the lights blinked out, town by town, across western Ukraine. It was two days before Christmas, and by sunset more than 230,000 residents had lost power.

LAGOS, Nigeria, October 24, 2024 – GE Vernova Inc. (NYSE: GEV) today announced that its GridOS® orchestration software is deployed in the newly completed Information and Coordination Centre (ICC) in Abomey-Calavi, Benin for the West African Power Pool (WAPP), a groundbreaking initiative aimed at transforming the region’s energy landscape. The recently inaugurated ICC will serve as the centralized command centre for the mainland member countries of the Economic Community of West Africa States (ECOWAS), overseeing the interconnected power grids of 14 nations, namely Benin, Burkina-Faso, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. This milestone marks a significant step towards establishing a unified power market across the region, paving the way for a more reliable, sustainable, and affordable energy infrastructure for West Africa.

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% per year between 2022 and 2040. This economic growth is expected to drive up energy demand by 2.8% per year, with electricity consumption expected to double by 2040. By expanding power capacity, enhancing forecasting capabilities, and ensuring a seamless balance between generation and demand across borders, the West Africa Power Pool powered by the ICC is bridging the gap between energy needs and reliable supply.

The ICC is a state-of-the art facility equipped with the latest electric grid management technologies. Elements of GE Vernova’s GridOS software portfolio are deployed in the facility to enable more secure, reliable grid orchestration. The software is designed to help utilities achieve the resiliency and flexibility needed for a more sustainable energy grid. The ICC is using several of the portfolio’s intelligent grid applications, including:

• Energy Management System (EMS) engineered for dispatching
• Wide Area Monitoring System (WAMS) designed for grid stability
• Advanced Market Management System designed to support the trading of power among ECOWAS countries

The ICC technology platform has also been upgraded with GE Vernova’s GridOS forecasting solution to enhance the value of Variable Renewable Energy (VRE) on the electricity market with advanced forecasting and ramping tools. Through this integration, engineers will have near real-time access to data on energy flow across the WAPP interconnected network, enabling them to monitor, analyze, and optimize the distribution of power.

"We are honored to partner with WAPP in their mission to promote and develop power generation and transmission infrastructures, as well as to coordinate power exchange among the ECOWAS member states. Our GridOS portfolio provides the ICC with modern software capabilities to automate grid operations and help increase the energy transaction rate across the region, helping overcome energy challenges in the ECOWAS zone," said Mahesh Sudhakaran, General Manager for GE Vernova’s Grid Software business.

GE Vernova has long worked with national electric utilities and regional power pools from the region, helping them adopt best-in-class technologies for grid modernization. In November 2022, the Southern African Power Pool (SAPP) inaugurated a new Coordination Control Center equipped with the latest Energy Management System (EMS) from GE Vernova’s Grid Software business. With more projects underway, GE Vernova is proud to be contributing to the energy transition in Africa.

¹https://www.iea.org/reports/africa-energy-outlook-2022

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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, 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 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 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. Learn more: GE Vernova and LinkedIn. GE Vernova’s Electrification Software business is focused on delivering the intelligent applications and insights needed to accelerate electrification and decarbonization across the entire energy ecosystem – from how it’s created, how it’s orchestrated, to how it’s consumed. Its Grid Software business and GridOS® portfolio is trusted by global utilities to orchestrate a more sustainable energy grid and help deliver reliable and affordable electricity to their customers.

Humans by nature are resource maximizers. Doing more with less — the essence of efficiency — is one of our oldest games. The economist Adam Smith thought deeply about the matter, which is why he is credited with devising the division of labor: the insight that better organizing factory worker tasks, rather than hiring more workers, is just as effective. But efficiency, which is a ratio, must be correctly understood.

(formerly a joint venture between Dussur and GE Vernova)

DAMMAM, Saudi Arabia (September 02, 2024) - The Saudi Arabian Industrial Investments Company (“Dussur”) successfully divested its 55% ownership stake in General Electric Saudi Advanced Turbines (“GESAT”) to GE Vernova Inc. (NYSE: GEV), bringing GE Vernova’s ownership to 100% in GESAT.

Since its establishment in 2017, GESAT has played an important role in meeting the Kingdom's demand for gas turbines, specifically through the localized completion of high-performance F-class and H-class gas turbines, and the manufacturing of post cast components and accessory modules.

GESAT is a successful joint venture that is supplying gas turbines and has manufactured more than 200 gas turbine modules to support power generation plants in up to 10 countries around the world, including Saudi Arabia.

In addition to GESAT’s above accomplishments, the company placed a great focus on transferring technological and industrial knowledge through trainings of Saudi cadres on gas turbine assembly and manufacturing processes. The trainings were completed at both GE Vernova’s Greenville site in the United States and the Belfort site in France.

“Dussur’s decision to sell its shares to GE Vernova follows achieving the investment and development objectives of this investment in GESAT, the company has been able to employ and train a number of young national talents; and transfer knowledge in the field of gas turbine  technology,” said Dr. Raed Alrayes, Chief Executive Officer at Dussur.

He also noted that, “Dussur’s investment policy is to enter partnerships that establish transformational industries that the Kingdom needs or support its supply chains. After ensuring the stability and maturity of these industrial capabilities, Dussur exits with the aim of renewing its investments into new industrial opportunities of greater value to the local economy. Today, we are proud of the industrial capabilities that distinguish GESAT and can further grow under the sole ownership of GE Vernova.”

Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East, and Africa, said, “GE Vernova has been honored to partner with Dussur on GESAT since 2017. We have a strong legacy of almost 90 years of contributions to the development of Saudi Arabia’s energy infrastructure, with up to 580 employees in the Kingdom today. We intend to continue supporting economic diversification, localization, high value exports, and talent development efforts in the country to further the Kingdom’s goals under Saudi Vision 2030. We also remain committed to collaborating with various stakeholders to help accelerate Saudi Arabia’s transition to net zero greenhouse gas emissions by 2060.” 

GE Vernova spun-off from GE (NYSE: GE) and began trading as an independent company on the New York Stock Exchange (NYSE) on April 2, 2024. With approximately 55,000 wind turbines and 7,000 gas turbines, GE Vernova's technology base helps generate approximately 25% of the world's electricity and has a meaningful role to play in the energy transition in Saudi Arabia and around the globe.

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About the Saudi Arabian Industrial Investments Company (Dussur)
The Saudi Arabian Industrial Investment company, owned by The Saudi Public Investment Fund (“PIF”), Aramco, and Sabic, aims to maximize the developmental impact on the Saudi economy by executing strategic and sustainable industrial investments with world-class technical partners, building modern industrial value chains, and creating more value out of the kingdom’s resources.

Visit us at www.dussur.com, LinkedIn & X: @Dussur; For more information, you may contact us through: info@dussur.com

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 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.

المشروع السابق المشترك ما بين دسر و جنرال إلكتريك ڤيرنوڤا

الدمام، المملكة العربية السعودية (٢ سبتمبر 2024) اتفقت الشركة العربية السعودية للاستثمارات الصناعية (دسر) على بيع حصتها البالغة 55% في شركة "جنرال إلكتريك السعودية للتوربينات المتطورة" (جيسات) لصالح شريكها في المشروع، شركة جنرال إلكتريك ڤيرنوڤا، المدرجة في بورصة نيويورك بالرمز (GEV).

ومنذ التشغيل التجاري في العام 2017، ساهمت "جيسات" في تلبية طلب المملكة على توربينات الغاز، وذلك من خلال استكمال تصنيع توربينات الغاز عالية الأداء من الفئتين F وH محلياً، وتصنيع مكونات المسار الساخن بعد الصب وملحقات المحرك.

تعد شركة جيسات مشروعاً مشتركاً ناجحاً لتصنيع توربينات الغاز، حيث قامت بتصنيع ما يزيد على 200 ملحق مساند للمحركات لدعم محطات توليد الطاقة في 10 دول حول العالم، بما في ذلك المملكة العربية السعودية.

وبالإضافة إلى الإنجازات المذكورة، ركز المشروع بشكل كبير على نقل المعرفة والخبرات التكنولوجية والصناعية من خلال تدريب الكوادر الوطنية على عمليات تجميع وتصنيع التوربينات الغازية. وقد تم إكمال التدريب في موقع شركة جنرال إلكتريك ڤيرنوڤا في جرينفيل بالولايات المتحدة وموقع بلفور في فرنسا.

وفي هذا السياق، قال الدكتور رائد الريس، الرئيس التنفيذي لشركة دسر: "إن قرار دسر بيع أسهمها لشريكها شركة جنرال إلكتريك فيرنوفا يأتي بعد ان تحققت الأهداف الاستثمارية والتنموية من هذا الاستثمار. فمنذ استثمار دسر في جيسات تمكنت الشركة من توظيف وتدريب عدد من الكفاءات الوطنية الشابة؛ ونقل المعرفة في مجال صناعة التروبينات الغازية". وأضاف: " تتمثل سياسة دسر الاستثمارية في الدخول في الشراكات التي تؤسّس لصناعات تحويلية تحتاجها المملكة أو تدعم سلاسل الامداد الخاصة بها؛ وبعد التأكد من استقرار هذه القدرات الصناعية ونضجها؛ تقوم دسر بالتخارج وذلك بهدف تدوير الاستثمارات في فرص صناعية جديدة ذات قيمة أكبر للاقتصاد المحلي. نحن نفخر اليوم بالقدرات الصناعية التي تميز شركة جيسات والتي تمكنها من النمو بشكل كبير تحت الملكية الكاملة لشركة جنرال إلكتريك فيرنوفا ".

بدوره، قال جوزيف أنيس، الرئيس والمدير التنفيذي لقطاع طاقة الغاز في شركة جنرال إلكتريك ڤيرنوڤا في أوروبا والشرق الأوسط وأفريقيا: "تفخر شركة جنرال إلكتريك ڤيرنوڤا بهذه الشراكة مع دسر والتي أثمرت إطلاق مشروع جيسات في العام 2017. نحن نملك اليوم إرث قوي يمتد لنحو 90 عامًا في تطوير البنية التحتية للطاقة في المملكة العربية السعودية، ونضم فريق عمل محلي مؤلف من 580 موظفًا. ونعتزم عبر استثمارنا الموسع في ’جيسات‘ مواصلة دعم أهداف المملكة في مجالات التنوع الاقتصادي والتوطين والصادرات عالية القيمة، بالإضافة إلى جهود تطوير المواهب انسجاماً مع رؤية السعودية 2030. ونؤكد أيضاً التزامنا بالتعاون مع مختلف أصحاب المصلحة دفعاً لجهود تسريع انتقال المملكة العربية السعودية إلى انبعاثات صفرية من الغازات الدفيئة بحلول العام 2060".

يذكر أن شركة جنرال إلكتريك ڤيرنوڤا قد انبثقت عن شركة جنرال إلكتريك، وبدأت التداول كشركة مستقلة في بورصة نيويورك (NYSE) في 2 أبريل 2024. ومع إنتاجها لما يقارب 55,000 توربين رياح و7,000 توربين غازي، تساعد تقنيات جنرال إلكتريك ڤيرنوڤا في توليد ما يقارب من 25% من الكهرباء حول العالم، ولها دور مهم في تحول قطاع الطاقة في المملكة العربية السعودية والعالم.

-انتهى-

نبذة عن الشركة العربية السعودية للاستثمارات الصناعية "دسر"
تأسست "دسر" بموجب مرسوم ملكي، من قبل ثلاثة من أكبر الكيانات في المملكة وهي: صندوق الاستثمارات العامة، وشركة أرامكو السعودية، والشركة السعودية للصناعات الأساسية "سابك". وتهدف الشركة إلى تعظيم الأثر التنموي على الاقتصاد السعودي من خلال تنفيذ استثمارات صناعية استراتيجية مستدامة، بالشراكة مع رواد الصناعة بهدف توطين سلاسل القيمة في المملكة. وتعتمد دسر نموذجاً استثمارياً مستداماً يساعد على تطوير القطاعات الصناعية الرئيسية وسلاسل القيمة المرتبطة بها في المملكة، لاسيما تطوير الصناعات التحويلية في القطاعات ذات الأهمية الاستراتيجية.

يرجى زيارة، www.dussur.com

لينكدإن ومنصة X: @Dussur

للمزيد من المعلومات، يمكنكم التواصل معنا على: info@dussur.com

نبذة عن جنرال إلكتريك ڤيرنوڤا
شركة طاقة عالمية تركز على مختلف تقنيات انتاج ونقل الطاقة الكهربائية، تضم قطاعات الطاقة وطاقة الرياح والكهرباء، مدعومة بما يسمى وحدات "التسريع" الخاصة بها: الأبحاث المتقدمة، الخدمات الاستشارية والخدمات المالية. في ضوء خبرتها الواسعة التي تفوق 130 عاماً في مواجهة التحديات العالمية، تتمتع الشركة بمكانة فريدة للمساهمة في قيادة تحول قطاع الطاقة عبر الاستمرار في إمداد العالم بالكهرباء مع العمل في الوقت ذاته على إزالة الكربون. تساعد الشركة العملاء لاقتصادات الطاقة وتوفير الكهرباء الضرورية لضمان الصحة والسلامة والأمن والارتقاء بجودة الحياة. يقع المقر الرئيسي للشركة في مدينة كامبريدج بولاية ماساتشوستس الأمريكية، حيث تضم حوالي 75 ألف موظف في أكثر من 100 دولة حول العالم.

وانطلاقاً من هدفها وشعارها المتمثل بـ "الطاقة لتغيير العالم"، فإن تقنيات وحلول جنرال إلكتريك ڤيرنوڤا تضمن مستقبلاً للطاقة أفضل لناحية التكلفة المعقولة والموثوقية والاستدامة والأمان. وتهدف أعمال طاقة الغاز التابعة للشركة لتطوير تقنيات وخدمات متقدمة وفعالة باستخدام الغاز الطبيعي، بالإضافة إلى حلول للتخلص من الانبعاثات والمساعدة في مسيرة التحول نحو عالم أقل انبعاثات كربونية. كما تتفرد الشركة بإنتاج توربينات الغاز وتقنيات وخدمات محطات توليد الطاقة بالغاز، وتمتلك أكبر محفظة في العالم بحوالي 7,000 توربين.

تتجلى رسالة جنرال إلكتريك ڤيرنوڤا من خلال اسمها، إذ تحافظ على إرث جنرال إلكتريك العريق الذي يمثل الابتكار والجودة بينما يشير مصطلح "Ver"/ "verde" باللاتينية إلى اللون الأخضر أي الانتقال إلى تقنيات أكثر استدامة، وأما كلمة "nova"، المشتقة من الكلمة اللاتينية "novus"، فهي تدل على عصر جديد ومبتكر للطاقة منخفضة الانبعاثات. وتركز أهداف الشركة على المساعدة في توفير مستقبل مستدام لقطاع الطاقة وبحلول موثوقة وبأسعار معقولة، ويتلخص ذلك في شعارها "الطاقة لتغيير العالم". لمعرفة المزيد، الرجاء زيارة صفحة الشركة GE Vernovaولينكد إن.

للمزيد من المعلومات الرجاء الاتصال بـ:

عبير مسعود

مديرة الاتصال المؤسسي لمنطقة الشرق الأوسط وأفريقيا في شركة جنرال إلكتريك ڤيرنوڤا

abeer.masood@ge.com

PARIS, France (Aug 27, 2024) – GE Vernova and Systems With Intelligence (SWI) signed a memorandum of understanding (MoU) today at the CIGRE event in Paris to develop advanced substation monitoring solutions. Through this collaboration the companies aim to integrate technologies like gas sensing, bushing monitoring and infrared thermography, along with AI and ML. The goal is to advance grid asset management by integrating SWI's cutting-edge infrared thermography and touchless monitoring systems with GE Vernova’s Grid Automation business's expertise in monitoring & diagnostic solutions of grid assets.

The initial focus of this collaboration will be on substation monitoring, where the companies will integrate their leading technologies to deliver converged monitoring and diagnostic intelligence, significantly enhancing asset management capabilities. This could streamline monitoring for utilities and Transmission System Operators (TSO’s), enabling earlier issue detection and leading to a more reliable, efficient, and stable power grid.

"Today’s asset managers are flooded with data from a myriad of sensing devices provided by various vendors. This often leads to fragmented data silos, requiring multiple software tools to manage and analyze the data independently," said Graham McGuigan, Product Line Leader for Monitoring & Diagnostics at GE Vernova. "Our collaboration with SWI is a step towards unifying these data streams into a more cohesive and intelligent monitoring system."

Angelo Rizzo, President and CEO of SWI, added, "By combining different sensing techniques, we can create solutions that offer enhanced diagnostic intelligence while simplifying the user experience. This collaboration is a significant move towards achieving that goal."

The first tangible outcome of this collaboration will be the integration of SWI’s fixed infrared sensors into GE Vernova’s DGA 900 Plus, a state-of-the-art multi-gas transformer monitoring system that monitors the health of power transformers by detecting early signs of problems and helps prevent transformer failures, ensuring a reliable and efficient power supply. This enhanced new solution, expected to be commercially available in early 2025, will allow asset managers to incorporate infrared thermography directly within the DGA 900 Plus platform, which already includes capabilities for dissolved gas analysis, bushing monitoring, and predictive modeling.

Looking ahead, GE Vernova and SWI plan to expand their collaboration to include the integration of SWI’s pan/tilt substation-level infrared sensors within GridBeats^TM Asset Vision substation monitoring solution, further advancing the capabilities of electrical grid asset management. GridBeats^TM is GE Vernova’s Grid Automation business’s portfolio of software defined automation solutions for grid digitalization.

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. 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 Systems With Intelligence
Systems With Intelligence Inc. is a global provider of Touchless™ monitoring solutions for electric utility applications. SWI systems collect and analyze the data that allows utilities to increase safety and reliability while reducing operating costs. Coupling thermal monitoring and visual imaging technology with advanced analytic algorithms, Systems With Intelligence solutions automate remote site monitoring.

Systems With Intelligence products are engineered to operate in the harshest environments and withstand high levels of electromagnetic interference, static discharge, and voltage surges found in industrial applications to ensure uninterrupted operation. Providing a monitoring system that operates reliably and connects seamlessly allows customers to remain focused on their operations.

The Systems With Intelligence management and technical teams are comprised of professionals with extensive experience in advanced technology for mission-critical applications in harsh environments. With domain expertise in substation and industrial automation, communications, and utility operations, the team is uniquely positioned to deliver effective and intelligent monitoring solutions.

For more information, visit the company's official website at www.SystemsWithIntelligence.com.

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.

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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. 

Bernard Dagher, who heads up growth and strategy for the Middle East and Africa (MEA) at GE Vernova’s Grid Solutions business, often reminds people why there are almost no landlines in Africa. As the story goes, cell phones arrived on the vast continent before it had strung up the thousands of miles of telephone wires needed for landlines.