What's Going On With GE Vernova Stock Tuesday? - GE Vernova (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) said Tuesday it will supply eight 6MW-164m turbines to Prokon Regenerative Energien eG to repower a wind farm in the Fleetmark community of Sachsen-Anhalt, Germany. The machines will be built at GE Vernova’s Salzbergen facility.

The order was booked in the second quarter of 2025 and underscores the company’s “Workhorse Product Strategy” for onshore wind.

Gilan Sabatier, chief commercial officer for GE Vernova’s onshore wind business, said repowering sites increases generation from existing wind farms while helping Germany meet renewable energy targets. He added that the company’s Salzbergen operations put it in a strong position to serve domestic demand.

Also Read: GE Vernova Stock Climbs On Dublin Bay Power Plant Modernization Deal

Katharina Beyer, Prokon board member for project development, said the cooperative again selected GE Vernova turbines after previous projects proved reliable. “For us, what matters is not only the technology itself but also a professional and constructive collaboration throughout the entire planning and construction process,” Beyer said.

Germany installed about 3.2 gigawatts of onshore wind in 2024. The government aims for 80% of electricity to come from renewable sources by 2030, and repowering older sites is central to that strategy.

The Fleetmark deal follows another milestone earlier this month. On September 8, GE Vernova said it will partner with Ireland’s Electricity Supply Board on a major life extension and modernization project at the Dublin Bay power plant. That upgrade, which includes its GT26 High Efficiency package, is expected to add nearly 30 megawatts of power, enough to supply about 30,000 Irish homes annually, while also enabling the plant to integrate hydrogen blends in the future.

Price Action: GEV shares were trading higher by 0.21% to $629.96 premarket at last check Tuesday.

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