GE Vernova Secures Major Order for Grid Equipment and Solutions in Algeria
GE Vernova Inc. (NYSE: GEV) today announced it has secured a significant order from Sonelgaz through their joint venture, GE Algeria Turbines (GEAT), to enhance Algeria’s grid infrastructure. The order, booked in the second quarter of 2024, involves supplying advanced high voltage (HV) equipment, components, and grid automation solutions for 134 substations by 2028.
Enhancing Algeria's Grid Infrastructure
GE Vernova will supply GEAT with the necessary equipment, which will be integrated at GEAT’s Ain Yagout facility in Batna, Algeria, for Sonelgaz projects. This initiative follows an agreement signed earlier this year between Sonelgaz and GE Vernova to diversify GEAT's core business towards manufacturing high and extra-high voltage substations. This collaboration marks a substantial step forward in enhancing Algeria’s electricity transmission network.
Supporting Renewable Energy Integration
The supplied equipment is expected to play a pivotal role in integrating renewable energy sources and ensuring a reliable power supply for Algeria's growing population and economy. Mourad Adjal, CEO of Sonelgaz Group, stated, “This order results from the expansion of existing capabilities between Sonelgaz and GE Vernova, through the recent amendment of their joint venture. It represents the culmination of Sonelgaz’s efforts to support the national integration program by producing high-quality and advanced technology equipment for the first time in Algeria and Africa, ensuring the transfer of expertise in this field to Algeria.”
Advancing Energy Infrastructure
Philippe Piron, CEO of GE Vernova's Electrification Systems businesses, commented, "Securing this major order is a testament to our commitment to advancing Algeria's energy infrastructure. We are excited to deliver our advanced grid solutions that will enhance grid efficiency and support Algeria's energy transition. This order reinforces our dedication to fostering local talent and creating job opportunities in the region.”
GE Vernova's Legacy in Algeria
GE Vernova, which spun off from General Electric Company (NYSE: GE) and began trading as an independent company on the New York Stock Exchange (NYSE) on April 2, 2024, has a strong legacy of contributions to Algeria’s energy sector. The company provides power generation, transmission, and distribution solutions, as well as software applications, employing over 300 people in the country. This latest order underscores GE Vernova’s ongoing commitment to supporting Algeria’s energy infrastructure and its transition towards more sustainable energy solutions.
