GE Vernova Touts Strong, if Slower, Gas Turbine Orders

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

Orders have slowed, but GE Vernova expects its gas-turbine business will continue to see steady growth in 2027 with similar strength in its wind-turbine business. A major acquisition in Europe also is boosting the bottom line.

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Pushing Hard on the 'Gas' Pedal

As it prepares to broaden its portfolio with a major acquisition in Europe, GE Vernova Incorporated expects its companywide backlog to exceed $200 billion before the end of the year, with at least 130 gigawatts (GW) of gas-turbine equipment under contract. Industrial Info Resources is tracking more than $55 billion worth of active and proposed projects featuring GE Vernova's services worldwide, including more than $15 billion worth in the U.S. and Canada.

While the power-equipment manufacturer acknowledged gas-turbine orders had slowed when compared with the supersonic pace of recent years, it still expects orders and reservations to remain strong in 2027. GE Verona added $20 billion worth of orders to its backlog in the third quarter, bringing its total to $197 billion.

According to Industrial Info Resources data, GE Vernova is at work on two projects to develop gas-turbine production facilities: a series of equipment additions at a plant in Greenville, South Carolina, which includes a new assembly line, and an upgrade to a turbine-remanufacturing plant in Amarillo, Texas. Both projects are set to be completed before the end of the year.

Industrial Info Resources offers more information on these projects in its Global Market Intelligence (GMI) Industrial Manufacturing Plant and Project databases, where subscribers can find details--including total capacities, investment values and necessary equipment--in profiles of the Greenville and Amarillo plants, and project reports on the Greenville and Amarillo additions.

During the third quarter, "we sold multiple slots for 2032 delivery, as the demand environment remains strong and customers secure turbines further into the future," said Scott Strazik, the chief executive officer of GE Verona, in a quarterly earnings-related conference call last week. "Demand also remains diverse with approximately 100 customers in 25 different countries, of which approximately 80% are traditional customers and 20% are for data centers."

By the Numbers

• More than $55 billion: Total investment value of active and proposed projects featuring GE Vernova's services worldwide
• More than $200 billion: GE Vernova's projected companywide backlog before the end of the year
• $9 billion: Estimated price tag for GE Vernova's acquisition of Trench Group

Good News for Wind

GE Vernova's wind-energy business contributed $72 million to companywide earnings before interest, taxes, depreciation and amortization (EBITDA), marking a return to profitability after a challenging few years. The company cited improved services margins for onshore wind-energy projects and lower costs associated with offshore projects.

"Wind turned profitable on strong services improvement, and we continue improving execution in offshore as our backlog to complete continues to come down," Strazik said in the earnings call.

Next summer, Basin Electric Power Cooperative expects to begin replacing 100 GE Vernova turbines at its Crow Lake Windfarm in White Lake, South Dakota, with newer, more efficient models. Basin Electric and GE Vernova expect the project will improve output at the 150-MW facility by 19% to 35%. Subscribers can learn more from a plant profile and a detailed project report.

Taking Over the 'Trench'

Executives also announced GE Vernova expects to spend $9 billion to acquire Trench Group GmbH from private equity firm Triton Partners, which Strazik called "an important step forward in strengthening and scaling our electrification business in the high- and medium-voltage markets globally." Trench manufactures high-voltage grid components and power transmission systems.

Industrial Info Resources is tracking activity at Trench's proposed transformer and coil plant in Botevgrad, Bulgaria, on which the company is expected to begin construction in the second quarter of 2027. Trench already produces active and winded core components in the region, and the new facility will broaden its offerings in the transformer and power-grid market. Subscribers can learn more from a plant profile and a detailed project report.

"Trench has strong fundamentals and approximately $5 billion in combined backlog and framework agreements as of September 2026, which has grown over the past several years," said Kenneth Parks, the chief financial officer of GE Vernova, in the earnings call. "Trench has approximately 80 existing framework agreements, some extending into the 2030s, representing volume commitments that account for approximately half of the $5 billion."

Executives say the acquisition is expected to close in late 2027.

The Industrial Info Resources GMI Project and Plant databases offer a full list of detailed reports for projects mentioned in this article, and a full list of related plant profiles.

Industrial Info Resources also offers a full list of reports for active and proposed projects featuring GE Vernova's services worldwide.

Key Takeaways

• GE Vernova expects gas-turbine orders and reservations to remain strong in 2027, if at a slower pace.
• The company currently has two projects underway to develop gas-turbine production facilities.
• GE Vernova's acquisition of Trench Group is expected to close in late 2027.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).