GE Vernova: Powering the Future of Clean Energy

Formed following GE’s decision to spin off its energy businesses, GE Vernova is now an independent, purpose-built energy company. The business is structured into three segments: Power, Wind, and Electrification, with the latter further divided into Electrification Systems and Electrification Software.

GE Vernova is also supported by its accelerator businesses, which include advanced research, consulting, and financial services. Drawing on over 130 years of expertise in addressing global challenges, GE Vernova is uniquely positioned to help drive the energy transition—expanding electrification while working towards decarbonization.

Having officially become an independent entity on April 2, 2024, we sit down with Philippe Piron, CEO of GE Vernova’s Electrification Systems, to discuss the company’s mission and how it is being put into action.

A name with purpose

“Our mission is embedded in our name,” Philippe begins. “We’ve retained the well-established ‘GE’ legacy as a mark of quality and innovation. ‘Vernova’ combines ‘ver’ or ‘verde,’ symbolizing the Earth’s lush ecosystems, with ‘nova,’ from the Latin ‘novus,’ reflecting a new era of low-carbon energy that we aim to deliver.”

Headquartered in Cambridge, Massachusetts, the company operates through a global workforce of over 80,000 employees across more than 100 countries. “We help customers power economies and provide electricity that is essential for health, safety, security, and an improved quality of life,” he adds.

Driving innovation

Highlighting the company’s milestones, Philippe continues: “GE Vernova’s Haliade-X was the first offshore wind turbine in the industry to surpass 12 megawatts. It is currently being deployed in projects across the UK and US, helping accelerate the shift to cleaner energy.”

“In addition, in September 2023, we announced that our Gas Power division’s H-Class heavy-duty gas turbine fleet had surpassed two million commercial operating hours across 88 global units. This fleet is among the most flexible and responsive in the industry, allowing grid operators to dispatch power rapidly while supporting intermittent renewable sources.”

GE Vernova’s Electrification segment is also achieving significant success. “This segment provides the products, solutions, and services needed for the efficient transmission, distribution, conversion, storage, and digital management of electricity—from generation to consumption,” Philippe explains.

“Electrification Systems consists of Grid Solutions, Power Conversion, and Solar & Storage Solutions. Grid Solutions is a key player in upgrading electrical networks, the backbone of the energy transition. Power Conversion offers energy conversion technologies that enable the electrification and decarbonization of industrial applications, while our Solar & Storage Solutions business delivers solar inverters and large-scale battery energy storage systems.”

Expanding opportunities

“The Electrification segment is the fastest-growing within GE Vernova, with a market valued at $75 million in 2022—expected to more than double by 2030 due to the accelerating energy transition and the demand for energy security. With electricity demand projected to rise by more than 50 percent by 2040, according to the International Energy Agency, we are poised to make a substantial impact,” Philippe notes.

GE Vernova is one of the few companies supporting the entire electrification value chain. “Our portfolio includes a two-gigawatt BiPole High-Voltage Direct Current (HVDC) system, the most efficient and cost-effective method of transmitting bulk power over long distances, connecting desynchronized grids, or integrating offshore renewables,” he says.

“This technology is central to our work with TenneT, the Dutch-German Transmission System Operator, as well as National Grid’s Eastern Green Link 1 (EGL1) project in the UK. Alongside our consortium partners, Seatrium and McDermott, we secured five contracts in 2023 for TenneT’s two-gigawatt program in the Netherlands—part of a broader project to connect 40 gigawatts of offshore wind farms to high-voltage grids across the Netherlands and Germany.”

A cleaner future

“For National Grid, we are supplying a two-gigawatt HVDC electric superhighway connecting Scotland and England. This project involves delivering an advanced HVDC system via our 525-kilovolt BiPole configuration, engineered and manufactured in our Stafford, England facility—directly supporting a major UK infrastructure project.”

“EGL1 is designed to significantly enhance the UK’s capacity to distribute clean, renewable energy while strengthening the resilience of the electric transmission network. HVDC technology plays a vital role in achieving the UK Government’s 2030 carbon reduction targets.”

To meet growing demand, GE Vernova is making strategic investments. “We’re expanding our industrial and engineering capabilities,” Philippe says. “We’re increasing our Stafford facility’s production capacity for HVDC valves and power transformers, while also scaling up our medium-voltage electrical systems operations in France, Germany, and the US.”

“Our mission is to electrify and decarbonize the world, and I believe our 80,000 employees share my enthusiasm for the positive impact we can create,” Philippe concludes. “I see GE Vernova leading the charge in electrification and decarbonization—creating value for customers, employees, partners, and investors alike.”

www.gevernova.com