GE Vernova has announced initiatives worth up to $14.2 billion for its energy equipment technology and services to support power generation and grid stability projects in Saudi Arabia.
They include up to $2 billion in backlog, or via a reservation agreement, as of the first quarter of 2025, with future contracts and memorandums of understanding for agreements span the next four years. The initiatives are expected to play a strong role in supporting the Kingdom in achieving its energy goals under its Saudi Vision 2030 and transition to net zero by 2060 policies.
Saudi Electricity Company and GE Vernova have announced initiatives covering the supply of heavy duty gas turbines built in the USA, synchronous condensers and balance of plant equipment for voltage regulation, reactive power, and system strength, to maintain reliable operations as more variable renewable energy is integrated into the system, and parts, maintenance and repair services.
GE Vernova has signed framework agreements with ACWA Power to collaborate on identifying and exploring potential opportunities to supply high efficiency gas turbines and electrification equipment for projects expected in Saudi Arabia.
Principal Buyer and GE Vernova have entered into MOUs to supply power generation equipment and services for future projects; commercialise carbon capture technologies, with training and investments in power sector manufacturing, repairs, and R&D activities.
Aramco and GE Vernova are to collaborate to provide maintenance services, repairs, spare parts, and other unspecified equipment to ‘support the reliable operations of various power plants around the Kingdom’.
GE’s presence in Saudi Arabia already includes the GE Manufacturing and Technology Centre in Dammam, a service and repairs centre for gas turbines and a manufacturing facility for heavy duty gas turbines and components, and an R&D cell.
