GE Vernova, an American energy manufacturer, plans to invest nearly $600 million in its US facilities by 2027 to address growing global electricity demands. The investment is for improving energy affordability, national security, and global competitiveness.
The investments are part of a $9 billion global capital expenditure and R&D plan announced in December 2024.
Key investments include:
- $300 million for the gas power business to expand heavy-duty gas turbine manufacturing, with plans to produce up to 80 turbines per year, adding 20GW of global electricity capacity.
- $160 million in Greenville, South Carolina, to enhance industrialization, quality, and hydrogen fuel testing capabilities, creating 650 jobs.
- $50 million in Schenectady, New York, for capacity growth and sustainability.
- $50 million across Parsippany, New Jersey, and Bangor, Maine, to support capacity and sustainability goals.
- $20 million in Charleroi, Pennsylvania, and Clearwater, Florida, for high-voltage grid equipment production.
- $50 million in Wilmington, North Carolina, to improve nuclear fuel safety and quality.
- $100 million for wind segment upgrades across several US sites.
- $10 million for electrification expansion in Pittsburgh, Pennsylvania.
- $100 million at Niskayuna, New York, for electrification and carbon reduction research in 2025.
The investments are expected to create more than 850 jobs, boosting innovation, energy security, and global competitiveness.