Massachusetts-based GE Vernova, with 18 manufacturing facilities across the US, has recently announced that it would spend nearly $600 million on US factories and facilities over the next two years. The investment will create more than 1,500 new factory and engineering jobs, and focus on gas power, grid, nuclear, and onshore wind manufacturing sites. The move will help meet surging customer demands for electricity equipment in the US and globally.
As part of the investment plan, GE Vernova is expanding its grid solutions business with $20 million in Charleroi, Pennsylvania for switchgear, and in Clearwater, Florida for capacitors and transformers. It is also investing nearly $300 million to increase production capacity for heavy-duty gas turbines, creating over 850 jobs across multiple locations. Further, the company is expanding the manufacturing capacity of its onshore wind segment with a $100 million investment. Factories will be upgraded with tooling and fixtures investments across Pensacola, Florida; Schenectady, New York; Grand Forks, North Dakota; and Amarillo, Texas. The move to expand its domestic wind energy portfolio comes after the company downsized the offshore wind sector in 2024 and laid off up to 900 employees globally.
For its solar and energy storage business, GE Vernova is investing $10 million in Pittsburgh, Pennsylvania, to launch a new line manufacturing 1,500 V and 2,000 V FLEXINVERTER models – a key technology for utility-scale solar and energy storage applications. Finally, GE Vernova is planning to grow its advanced research centre in Niskayuna, New York. The $100 million investment will be for electrification, carbon reduction, alternative fuels, AI research, and critical infrastructure security. The New York centre will also receive $9.6 million in tax credits from New York state.
The new investments are the first part of a larger $9 billion cumulative global capital expenditures and research and development investment plan through 2028, announced by the company in December 2024.