GE Vernova Plans $600 Mn Investment To Build US Factories Over Next Two Yrs

GE Vernova Inc., a US-based energy manufacturer has announced plans to invest nearly $600 million in its US factories and facilities over the next two years to help meet the surging demand worldwide. The new investments – expected to create more than 1,500 new US jobs – will help drive its energy affordability, national security, and competitiveness. Moreover, it enables the American manufacturing footprint needed to support expanding global exports.

GE Vernova’s new investments are the first part of a larger $9 billion cumulative global capex and R&D investment plan through 2028 that was announced at the company’s Investor Update on December 10. The company’s technology helps produce approximately 25 percent of the world’s energy and is currently deployed in more than 140 countries.

Plans to expand grid solutions business

GE Vernova is planning to invest a total of nearly $20 million to expand capacity at its Grid Solutions facilities in Charleroi, PA, which manufactures switchgear, and Clearwater, FL, which produces capacitors and instrument transformers. The investment is expected to result in a total of more than 260 new jobs at the two facilities. The investments are critical to meet the rising demand for critical high-voltage grid equipment. The majority of the investment is planned for the installation of new assets to create additional capacity and improve productivity.

More capacity for U.S. onshore wind factories

As it continues focusing on its workhorse product strategy, GE Vernova’s Wind segment is planning to invest nearly $100 million in its manufacturing facilities in Pensacola, FL, Schenectady, NY, and Grand Forks, ND, and its remanufacturing facilities in Amarillo, TX.

Adding U.S. Manufacturing Capacity To Support U.S. Grid, Demand For Solar, Energy Storage

GE Vernova is planning to invest more than $10 million in its Pittsburgh, PA, facility to expand capabilities across its Electrification segment. This includes planned funding to house a new domestic manufacturing line for the company’s FLEXINVERTER, a key technology for utility-scale solar and energy storage applications. The total investment is expected to create more than 270 new jobs, with the new line producing both the 1500V and 2000V FLEXINVERTER. This will help enable utilities to seamlessly connect renewable energy sources to the grid, ensuring a stable and consistent energy supply for homes and businesses.

These new investments in U.S. facilities follow more than $167 million in funding in 2024 across a range of GE Vernova sites, helping create more than 1,120 jobs to continue U.S. leadership in energy manufacturing for the nation and exports for the world.

“These investments represent our serious commitment and responsibility as the leading energy manufacturer in the United States to help meet America’s and the world’s accelerating energy demand,” said Scott Strazik, CEO of GE Vernova. “These strategic investments and the jobs they create aim to both help our customers meet the doubling of demand and accelerate American innovation and technology development to boost the country’s energy security and global competitiveness.”