GE Vernova secures major orders from PGCIL to accelerate India's energy transition

• GE Vernova’s Grid Solutions business secures orders worth multi-million dollars from Power Grid Corporation of India for the supply of 765 kV Shunt Reactors.
• The orders support India's clean energy goals, enhancing grid stability and efficiency for integrating renewable energy.
• The orders will be executed through GE T&D India, the listed entity of GE Vernova's Grid Solutions business in India.

Paris, France: February 27th, 2024 - GE Vernova’s Grid Solutions business (NYSE: GE) today announced it has been awarded orders worth multi-million dollars from Power Grid Corporation of India (PGCIL) for the supply of 765 kV Shunt Reactors for various transmission system projects in India. These projects are part of PGCIL’s efforts to integrate renewable energy into the national electricity grid and enhance electricity transmission within the country, particularly in regions such as Rajasthan and Karnataka.

"These orders underscore our commitment to supporting India's ambitious renewable energy goals and strengthening its electricity transmission infrastructure," said Eric Chaussin, Power Transmission Business Leader of Grid Solutions, GE Vernova." This highlights our technical capability in designing and manufacturing oil-filled reactors, including 765 kV shunt reactors. This equipment plays a crucial role in enhancing grid stability and efficiency, especially in the context of integrating large-scale renewable energy projects.”

The orders will be executed through GE T&D India, the listed entity of GE Vernova's Grid Solutions business in India. GE T&D India will be responsible for providing the complete equipment package, including design, engineering, manufacturing, testing, erection, and commissioning of the 765 kV class reactors at the designated transmission substation sites. The reactors will be manufactured at GE T&D India's Vadodara plant and are scheduled for delivery in the financial year 2025-26.

Sandeep Zanzaria, MD & CEO of GE T&D India, said, "We are delighted to support PGCIL in the modernization of India's grid infrastructure through the supply of locally manufactured equipment in alignment with the government’s Make in India initiative. To date, we have successfully manufactured and supplied over 600 transformers and reactors of 765 kV class from our Power Transformer facility in Vadodara, Gujarat, to customers in India and abroad, solidifying our position as a leading manufacturer of such equipment in India.”

India has set ambitious targets for renewable energy deployment, aiming to have 50% of its power generation capacity fueled by non-fossil sources by 2030, compared to 41% in 2022. The country has also set a target of 500 GW of non-fossil capacity by 2030. The Green Energy Corridor project, a key initiative, aims to create transmission capacity to integrate a rising share of variable renewable power, targeting the integration of 500 GW of renewable capacity by 2030. India announced its ambition to reach net-zero emissions by 2070 in 2021, highlighting the importance of investments in clean energy infrastructure. ¹

Shunt reactors are essential components of power transmission systems that help maintain voltage levels and improve grid stability. They help stabilize the electrical system by balancing the voltage levels, especially in long-distance transmission lines. This ensures that electricity flows smoothly and efficiently, reducing the risk of power outages and ensuring a reliable supply of electricity to homes and businesses. Learn more about GE Vernova’s shunt reactors here.

###

About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. 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 more than 80,000 employees across 140+ countries around the world. GE Vernova’s Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

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. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

About GE T&D India Limited
With over 100 years of presence in India, GE T&D India is a leading player in the Power Transmission & Distribution business - A product portfolio ranging from Medium Voltage to Ultra High Voltage (1200 kV) for Power Generation, Transmission and Distribution, Industry and Infrastructure markets. GE T&D India has a predominant presence in all stages of the power supply chain and offers a wide range of products that include ‘Made in India’ Power Transformers, Circuit Breakers, Gas Insulated Switchgears, Instrument Transformers, Substation Automation Equipment. GE T&D also offers Digital Software Solutions, Turnkey Solutions for Substation Engineering & Construction, Flexible AC Transmission Systems, High Voltage DC & Services suite of offerings. With 5 world class manufacturing facilities in India, GE T&D India is future ready to meet the growing demands for equipments and services. GE is focused towards introducing Green and Digital Solutions aiming towards smarter and environment friendly Indian Grid. www.ge.com/in/ge-td-india-limited

For media inquiries, please contact:

business unit