GE Vernova currently provides up to 30 per cent of Việt Nam’s electricity needs, with an installed power generation capacity of about 40GW. — Photo courtesy of the company
GE Vernova announced that its spin-off from GE (NYSE: GE) is complete and it will begin trading as an independent company on the New York Stock Exchange (NYSE) under the ticker symbol “GEV,” effective at the market opening on April 3.
In a first for the NYSE, GE Vernova and GE Aerospace, which also launches as an independent company today, will ring the opening bell together at 9:30 am est.
“Today, GE Vernova becomes an independent company singularly focused on accelerating the energy transition to create a more sustainable future,” said Scott Strazik, CEO of GE Vernova. “Our Power, Wind, and Electrification segments provide essential products and services to the electric power industry as we work to meet the growing power demands of economies and deliver electricity that is vital to health, safety, security, and improved quality of life.”
GE Vernova currently provides up to 30 per cent of Việt Nam’s electricity needs, with an installed power generation capacity of about 40GW. GE’s fleet in Việt Nam includes over 20 gas turbines, and services over 10 power plants and projects.
The Phú Mỹ Reconditioning Workshop and Dung Quất HRSG manufacturing plant are world-class facilities serving customers from around the world as parts of GE’s global network of repair and manufacturing capabilities, while GE Renewable Energy’s Hải Phòng factory is one of five GE factories in the world that manufactures generators and components for wind turbines in response to the growing global demand for wind power generation and in support of cleaner energy production.
GE Vernova has more than 80,000 employees across more than 100 countries. Many of the world’s leading utilities, developers, governments, and large industrial electricity users rely on its installed base to generate, transfer, orchestrate, convert, and store electricity reliably and efficiently. With an installed base of over 7,000 gas turbines, the world’s largest, approximately 55,000 wind turbines, and leading-edge electrification technology, GE Vernova helps generate approximately 30 per cent of the world’s electricity. — VNS