GE Vernova (NYSE: GEV) has unveiled energy initiatives valued at up to $14.2 billion during U.S. President Donald Trump’s state visit to Saudi Arabia.
The agreements, announced in the presence of Crown Prince Mohammed bin Salman and President Trump, cover a combination of firm orders, reservations, and future project commitments over the next four years.
They include up to $2 billion in existing backlog or reservation agreements as of the first quarter of 2025.
The deals aim to enhance Saudi Arabia’s power generation capacity, boost grid stability, and support the country’s transition to cleaner energy sources in line with its Vision 2030 objectives.
GE Vernova’s collaborations include several key Saudi institutions. The Saudi Electricity Company (SEC) will work with GE Vernova to supply advanced heavy-duty gas turbines—manufactured in Greenville, South Carolina—synchronous condensers, and other equipment designed to improve grid resilience.
The technologies are intended to support voltage regulation and facilitate the integration of more renewable energy sources into the national grid.
In partnership with ACWA Power, a global force in desalination and green hydrogen, GE Vernova has signed a framework agreement to explore the deployment of high-efficiency gas turbines and electrification technologies for upcoming projects across the Kingdom.
GE Vernova will also collaborate with Aramco to provide maintenance, spare parts, and repair services to support the reliability of power plants throughout Saudi Arabia.
The company’s presence in Saudi Arabia includes the GE Manufacturing and Technology Center (GEMTEC) in Dammam, which houses a turbine service and repair center, a heavy-duty gas turbine manufacturing plant, and an R&D unit employing approximately 850 people.
It also plans to expand its GE Saudi Advanced Turbines (GESAT) facility in Dammam to enable the local production of high-voltage gas-insulated switchgears, marking the establishment of the first GE Vernova facility of its kind in the Middle East.
In a parallel move to strengthen its global supply chain, GE Vernova has announced a $16 million investment in its India operations.
The investment, led by GE Vernova T&D India Limited (NSE: GEV T&D), will support manufacturing and engineering expansions in Chennai and Noida, enhancing the company’s ability to produce advanced grid technologies vital for transmission system modernization in India and other fast-growing markets.
