GE Vernova enters into agreement with PPC Renewables to supply turbines for wind farm in Romania

Athens / Bucharest (September 10, 2024) - GE Vernova Inc. (NYSE: GEV) announced today that it has entered into an agreement with Public Power Corporation Renewables (PPC R) to supply, install and commission 23 of GE Vernova's 6.1 MW - 158m* turbines for a wind farm in Vaslui County, Romania. The deal, which was booked in the second quarter of 2024, expands the presence of GE Vernova's Onshore Wind business in Romania by adding 140 MW to the company's existing installed base of more than 700 MW in the country.

Initial deliveries for the project are scheduled for the first half of 2025, and the project is expected to achieve full operation by the end of next year. When completed, the project is expected to provide enough energy to power the equivalent of approximately 62,000 households.

The agreement aims to enable both companies to support Romania in its goal of adding significantly more renewable energy by 2030.

Gilan Sabatier, Chief Commercial Officer for GE Vernova's Onshore Wind business in International Markets, said: "We are honored that PPC Renewables has chosen GE Vernova turbines for their Vaslui project in Romania. The project is expected to support Romania's energy strategy and the country's plans to install an additional 5 GW of wind by 2030, while enabling GE Vernova to achieve its mission of delivering industry leading technology to electrify and decarbonize the world. This project reinforces our ongoing commitment to help lead the energy transition in the European Union, where we have a long history, have installed thousands of wind turbines, and are using our latest technology in projects like this."

Konstantinos Mavros, PPC Renewables CEO & PPC Group Deputy CEO of RES, said: "We are grateful for signing a new supply agreement with GE Vernova, for the implementation of our emblematic wind park in Vaslui County (Romania), which consists of 23 wind turbines of total installed power of 140 MW. Our energy portfolio is gradually expanding into new countries setting PPC as the largest clean energy company in Southeast Europe with 4.7 GW production capacity from renewables, projects of 2.8 GW under construction or at the Ready to Build stage, and a project pipeline of 20 GW."

GE Vernova's Onshore Wind business has a total installed base of approximately 56,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to its customers' success for more than two decades, its product portfolio offers next-generation technology that leads with high-powered turbines to enable high-quality scale and drive decarbonization through affordable and sustainable generation of renewable energy.

###

*Note to Editors: GE's Vernova's 6.1 MW turbine with a 158 meter rotor is what we refer to as the 6.1 MW-158m.

About GE Vernova
GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world's challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company's purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

GE Vernova's Wind segment is focused on delivering a suite of wind products and services to help accelerate a new era of energy by harnessing the power of wind. The business comprises the Offshore Wind, Onshore Wind, and LM Wind Power businesses. Technologies provided to customers include the Haliade-X platform, our offshore wind turbine, and the next generation high efficiency 3-megawatt onshore wind turbine, as well as maintenance solutions and life extension optionality.

GE Vernova's mission is embedded in its name - it retains its legacy, "GE," as an enduring and hard-earned badge of quality and ingenuity. "Ver" / "verde" signal Earth's verdant and lush ecosystems. "Nova," from the Latin "novus," nods to a new, innovative era of lower carbon energy.

Forward Looking Statements
This document contains forward-looking statements - that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova's expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "estimate," "forecast," "target," "preliminary," or "range." Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on GE Vernova's business operations, financial results and financial position and on the global supply chain and world economy.

end