GE Vernova To Invest Nearly $600 Million In U.S. Facilities Over Two Years

By Amit Chowdhry • Feb 3, 2025

GE Vernova plans to invest nearly $600 million in its U.S. factories and facilities over the next two years to help meet the surging electricity demands worldwide. And the new investments – expected to create approximately 1,500 new U.S. jobs – will help drive U.S. energy affordability, national security, and competitiveness to support expanding global exports.

With worldwide energy needs forecasted to increase substantially, the investments will help meet soaring customer demand, strengthen domestic supply chains, and continue developing American technology that helps power the world.

These new investments are the first part of a more significant $9 billion cumulative global capex and R&D investment plan through 2028 that was announced at the company’s Investor Update on December 10. GE Vernova has over 18,000 workers across 50 states in the U.S., with 18 U.S. manufacturing facilities and its global headquarters based in Massachusetts. The company’s technology helps produce approximately 25 percent of the world’s energy and is currently deployed in more than 140 countries.

To support the previously announced plan to deliver up to 80 heavy-duty gas turbines per year, resulting in an additional 20GW of electricity globally, GE Vernova intends to invest almost $300 million in support of its Gas Power business and build-out of capacity incremental heavy-duty gas turbines. The new funding is projected to create more than 850 new jobs and support a range of new projects, including:

In Greenville, SC, the company plans to invest more than $160 million to support capacity growth, quality, industrialization and delivery efforts, and new testing capability with hydrogen fuel. These efforts are expected to create more than 650 new jobs.

In Schenectady, NY, as previously announced, GE Vernova plans to hire more than 100 new jobs in 2025 and invests over $50 million to support capacity growth and sustainability, industrialization, and quality efforts.

GE Vernova plans to invest nearly $50 million combined in its Parsippany, NJ, and Bangor, ME, locations to support capacity growth and quality, industrialization, and delivery efforts.

Plus, GE Vernova plans to invest 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 will result in more than 260 new jobs at the two facilities. The investments are critical to meet the rising demand for critical high-voltage grid equipment. Most of the investment is planned for installing new assets to create additional capacity and improve productivity.

GE Vernova’s nuclear business GE Hitachi plans to invest more than $50 million to enhance safety, quality, and productivity at its Wilmington, NC factory and to launch its next-generation nuclear fuel design, a critical component to the company’s small modular reactor, the BWRX-300. And the BWRX-300 reactor is the only advanced design with an approved, existing fuel. Expanding the capacity of the fuel manufacturing operation further positions the BWRX-300 as the most ready-to-deploy advanced reactor on the market.

This funding also seeks to expand automation at the plant, which has been manufacturing fuel since 1968 and serves much of the U.S. boiling water reactor fleet. It firmly positions it for the future as the demand for nuclear energy increases globally, particularly as several U.S. utilities restart retired plants.

As the company 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. These continuing investments aim to strengthen the U.S. supply chain for renewable energy through factory upgrades and tooling and fixtures investments while improving customer and employee experience through a new experience center in Pensacola and office renovations in Schenectady.

GE Vernova plans to invest more than $10 million in its Pittsburgh, PA, facility to expand capabilities across its Electrification segment. And 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.

This 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 utilities seamlessly connect renewable energy sources to the grid, ensuring a stable and consistent energy supply for homes and businesses.

At the Advanced Research Center in Niskayuna, NY, a leading hub for energy technology and innovation, GE Vernova plans to invest almost $100 million in 2025 to strengthen the center’s electrification and carbon efforts, enable continued recruitment of top-tier talent, and push forward innovative technologies including direct air capture, alternative fuels for power generation, the grid of the future, critical infrastructure security and more. In partnership with New York Governor Kathy Hochul and Empire State Development, the State of New York is also committing an additional $9.6 million in tax credits to the project. The company expects this investment will create 75 new research jobs. The company also plans to fund Generative Artificial Intelligence (AI) work in Niskayuna at $15 million in 2025.

These new investments in U.S. facilities follow over $167 million in funding last year 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.

KEY QUOTE:

“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. 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.”

  • Scott Strazik, CEO of GE Vernova