GE Vernova unveils $14.2bn energy equipment initiatives in Saudi Arabia

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 GE Vernova announced energy initiatives valued at up to $14.2bn to support power generation and grid stability projects in Saudi Arabia.

The announcement includes up to $2bn in backlog or reservation agreements as of Q1 2025, alongside a pipeline of future contracts and memorandums of understanding (MOUs) extending over the next four years.

The initiatives were signed during US President Donald Trump’s visit to Saudi Arabia.

The initiatives are aligned with the kingdom’s Vision 2030 and its target of achieving net zero emissions by 2060.

“As the world’s energy equipment manufacturer, GE Vernova is proud to deploy world class technology to help deepen the longstanding relationship between the USand Saudi Arabia, advance energy security, and strengthen the economic prosperity and competitiveness of both nations,” said GE Vernova CEO Scott Strazik. “We are committed to continuing our work to grow capacity and jobs in the U.S. and beyond to meet these critical needs.”

Saudi partnerships to drive energy transition

Among the key collaborations:

• Saudi Electricity Company (SEC) and GE Vernova will supply heavy duty gas turbines built in Greenville, South Carolina; synchronous condensers and balance of plant equipment to stabilize the grid; and capital parts and maintenance services to enhance operational efficiency.

• Principal Buyer and GE Vernova signed MOUs for supplying advanced power generation equipment and services, commercializing carbon capture technologies, and investing in training, manufacturing, and R&D in the power sector.

• ACWA Power and GE Vernova agreed to explore opportunities for supplying high-efficiency gas turbines and electrification equipment. ACWA Power is a global leader in desalination, energy transition, and green hydrogen.

• Aramco and GE Vernova will collaborate on maintenance services, repairs, and spare parts to ensure reliability across Saudi power plants.

GE Vernova has operated in Saudi Arabia for nearly 90 years, with a power generation installed base of over 50 gigawatts. Its presence includes the GE Manufacturing and Technology Center (GEMTEC) Campus in Dammam, which houses facilities for turbine servicing, component manufacturing, and R&D, employing up to 850 people.

The announcements underscore GE Vernova’s role in Saudi Arabia’s evolving energy landscape and its long-term commitment to supporting industrial growth, energy security, and technological innovation in the region.