Environment

GE Vernova Inc. (NYSE: GEV) will play a prominent role at the upcoming Africa Energy Forum, taking place in Barcelona from June 25-28, 2024. As a lead sponsor, GE Vernova is committed to supporting the electrification and decarbonization of Africa, aligning with the forum's theme, "Energy Systems of the Future – Balancing Africa’s Needs with Global Goals." This event will gather key stakeholders, investors, and future leaders to discuss project developments, technological innovations, and cross-sector collaboration opportunities.

A recent report highlights that around 600 million people in Sub-Saharan Africa, nearly 50% of the region’s population, lack access to electricity. With power demand projected to grow by 3% in 2024, balancing energy transition goals with electricity availability is crucial. GE Vernova’s experts will address these challenges and share best practices to achieve reliable, affordable, and sustainable energy across several sessions at the forum. Key topics include improving energy systems, the role of gas in energy transition, investing in Senegal’s energy sector, and leveraging new technologies to reduce emissions.

Joseph Anis, President & CEO of Europe, Middle East & Africa for Gas Power at GE Vernova, emphasized the importance of reliable power: “Progress is indelibly linked to uninterrupted power supply in modern society. Investing in reliable and affordable electricity generation is as critical as advancing lower carbon power to support health, connectivity, safety, security, and improved quality of life. Accelerating Africa’s energy transition efforts will require cross-sector collaboration among the public, private, and not-for-profit sectors; the strategic deployment of multiple energy sources, including renewables and gas power; and investments in the grid together with software solutions. These steps can enable substantive reductions in emissions quickly and at scale, while advancing the technologies for low or near-zero carbon power generation and helping to meet the continent’s growing energy needs.”

GE Vernova, which spun off from GE (NYSE: GE) and began trading independently on the New York Stock Exchange on April 2, 2024, boasts a significant technological footprint. With approximately 55,000 wind turbines and 7,000 gas turbines globally, GE Vernova generates about 25% of the world’s electricity. In Africa, GE Vernova-built technologies account for up to 40% of installed power generation capacity. Serving 260 customers across the continent, GE Vernova has a 120-year legacy of supporting critical infrastructure development in Africa, covering the entire electricity value chain from generation through various power sources, including wind, hydro, and gas, to providing transmission, distribution, and software solutions.

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