GE Vernova has announced an investment of approximately $200 million to expand its electrification manufacturing capacity in Hai Phong, Vietnam, to cater for rising electricity demand and the growing need for transmission infrastructure across Asia and beyond.
The new facility will manufacture large power transformers for high voltage direct current (HVDC) projects, as used in modern power systems and long-distance electricity transmission. It complements GE Vernova’s existing HVDC transformer manufacturing capabilities in Stafford, UK, and India.
The investment reflects the continued growth of electrification, GE Vernova’s fastest-growing segment, and the increasing need for advanced transmission infrastructure as electricity demand rises and power systems become more complex.
This investment forms part of the company’s planned investments of $11 billion in capex and R&D from 2025 through 2028, including $1 billion for Prolec GE from 2026 to 2028. It follows on from GE Vernova’s completion of the $5.3 billion acquisition of Prolec to increase transformer production in the North American market, plus more than $300 million in investments in grid facilities in the United States, and the expansion of its Stafford, UK site to strengthen HVDC and grid manufacturing capabilities in Europe.
The Hai Phong facility is planned to be developed in phases, with full operation expected in 2028, subject to regulatory approvals. Once operational, the site is expected to contribute towards GE Vernova’s broader transformer manufacturing capacity while primarily serving growing demand across Asia.
Electricity demand growth is particularly strong in fast-industrialising and urbanising markets, where power infrastructure expansion and modernisation are advancing at pace. GE Vernova plans to implement workforce training and knowledge-sharing programmes in Vietnam, helping build local capabilities while connecting the Hai Phong site to its global electrification manufacturing network.
GE Vernova’s equipment currently supports up to 30% of Vietnam’s electricity demand, and employs more than 1100 people across nine locations in the country, spanning multiple businesses including its repair facilities and an HRSG manufacturing plant.
