GE Vernova Hosts New Era of Energy Forum in Riyadh, Announces Major Investments in Energy Infrastructure and Grid Modernization

GE Vernova, under the patronage of the Ministry of Energy, hosted its exclusive ‘New Era of Energy’ forum at the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Riyadh. The event brought together over 200 senior leaders from government, industry, and non-profit organizations to explore solutions for strengthening Saudi Arabia’s energy ecosystem in alignment with Saudi Vision 2030.

GE Vernova CEO Scott Strazik addressed the forum, highlighting the company’s commitment to the Kingdom’s energy transition. “Saudi Arabia is well placed to lead a new era of energy, and GE Vernova is honored to support these efforts with our technologies, talent, and longstanding partnership,” he said.

The event coincided with GE Vernova’s annual Global Supplier Partnership Summit, attended by over 300 supplier organizations. The summit focused on enhancing local supply chains, boosting national industrialization, and attracting foreign investment into Saudi Arabia’s power sector.

Major Announcements and Strategic Initiatives

Local Grid Equipment Manufacturing Investment
GE Vernova announced plans to expand its GE Saudi Advanced Turbines (GESAT) facility in Dammam to locally manufacture high-voltage gas-insulated switchgears. This move marks the establishment of the first GE Vernova facility of its kind in the Middle East and supports Saudi Vision 2030’s infrastructure goals and job creation strategies.

Expansion at GE Manufacturing Technology Center (GEMTEC)
Production capacity will be increased at the company’s GEMTEC facility in Dammam to advance grid automation and digitalization efforts. The expanded capabilities aim to contribute to a more modern, efficient, and sustainable power grid in the Kingdom.

Milestone Gas Turbine Outage by Saudi Engineers
In collaboration with Saudi Electricity Company (SEC), GE Vernova announced the successful completion of the first-ever gas turbine outage entirely led and executed by Saudi nationals at the 8th Power Plant in Riyadh. This achievement reflects a growing focus on local talent development within the energy sector.

MoU with SEC for Grid Modernization
GE Vernova’s Electrification Software business signed a Memorandum of Understanding with SEC to accelerate Saudi Arabia’s energy digitalization goals. The agreement includes plans to deploy GE Vernova’s GridOS® software and establish a Regional Center of Competency & Excellence in Riyadh.

Collaboration with Saudi EXIM Bank
GE Vernova and Saudi EXIM Bank announced new Protocols of Cooperation, expanding on a 2024 MoU. The partnership aims to facilitate the export of GE Vernova products and services from Saudi Arabia by providing financial and insurance support, in line with the Kingdom’s non-oil economic diversification goals.

Reinforcing a Longstanding Partnership

The forum marked the first visit of GE Vernova’s executive leadership team to the Kingdom since its spin-off and listing on the New York Stock Exchange. The visit underscored GE Vernova’s 90-year partnership with Saudi Arabia and its continued role in supporting the nation’s evolving energy landscape.