GE Vernova signs agreement to supply turbines for 228 MW Boulder Creek Wind Farm in Australia

BRISBANE, Australia (September 30, 2024) - GE Vernova Inc. (NYSE: GEV) announced today that it has signed an agreement with Aula Energy and CS Energy to provide 38 6 MW-164m¹ workhorse turbines for their Boulder Creek Wind Farm in Queensland, Australia.

Boulder Creek is the first standalone project-financed split-scope wind farm in Australia, representing a milestone in the evolution of the nation's wind market and underscoring GE Vernova's commitment to partnership and flexibility in aligning global delivery models to create value for customers in the country.

The project, located 40km south-west of Rockhampton, brings the total number of GE Vernova 6 MW platform turbines in operation or under construction in Australia to more than 250. The deal, which was booked in the third quarter of 2024, includes a five-year full-service agreement.

The wind farm is expected to supply power for the equivalent of 85,000 Australian homes², and reduce greenhouse gas emissions by approximately 379,000 tonnes CO₂ equivalent each year³, comparable to taking more than 130,000 petrol cars off the road⁴.

GE Vernova worked closely with Aula Energy, Powerlink Queensland and the Australian Energy Market Operator to achieve the grid offer-to-connect well in advance of project financial close, building off grid approvals secured for the 6 MW platform in New South Wales, Victoria, and South Australia.

"We are delighted to be working closely together with our customers, CS Energy and Aula Energy to bring reliable and affordable wind energy to Australia to increase the renewable energy mix. This project is another example of GE Vernova's ability to deliver on our workhorse strategy - producing fewer variants in large quantities at scale to drive quality and reliability across the fleet for our customers. With a broad cross portfolio of capabilities underpinned by world-leading technology, GE Vernova is uniquely positioned to help lead the energy transition," says Gilan Sabatier, Chief Commercial Officer, Onshore Wind, GE Vernova.

CS Energy Chief Executive Officer Darren Busine said, "Our investment in the Boulder Creek Wind Farm demonstrates our ongoing commitment to central Queensland and providing opportunities for our people and local communities to share the benefits of the energy transformation."

Aula Energy Chief Executive Officer Chad Hymas said "I'm very pleased to have reached this crucial stage in the development of the Boulder Creek Wind Farm. In collaboration with GE Vernova and our other project partners, we can now get construction underway to deliver the clean energy benefits of this project for Queensland."

Site preparatory works at the Boulder Creek Wind Farm are expected to commence before the end of 2024, with activity aiming to ramp up from early to mid-2025, and operations anticipated to commence in 2027.

GE Vernova's Onshore Wind business has a total installed base of approximately 56,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to customer success for more than two decades, its product portfolio offers proven, next-generation technology that leads with high-power turbines to enable high-quality scale and drive decarbonization through more affordable and sustainable renewable energy generation. The GE Vernova 6 MW platform to be used at Boulder Creek Wind Farm is the most widely deployed onshore wind turbine above 5 MW outside China.

Australia has been part of the company's story for more than 125 years and today is increasingly important for GE Vernova, providing careers for ~400 employees and ~200 field engineers across every State and Territory. With more than 3 GW of wind turbines in operation or under construction, 10+GW of gas-based power generation, software running 80% of the electricity grid, providing ~40% of grid infrastructure of major utilities, GE Vernova is actively supporting efforts to make electricity more sustainable, affordable, reliable and accessible across Australia.

1. GE's Vernova's 6.0 MW turbine with a 164-meter rotor is what we refer to as the 6.0 MW-164m.

2. Estimated equivalent number of homes powered based on country-specific electricity household consumption data (Enerdata, 2020)

3. GHG emissions avoidance provided by Green Investment Group, calculated using country-specific Harmonized IFI Grid Factors (see https://www.greeninvestmentgroup.com/en/who-we-are/green-impact-governance.html)

4. Estimated number of equivalent cars off the road based on standardised petrol vehicle efficiency and mileage.

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About GE Vernova
GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. 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 approximately 75,000 employees across 100+ countries around the world. Supported by the Company's purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

GE Vernova's Wind segment is focused on delivering a suite of wind products and services to help accelerate a new era of energy by harnessing the power of wind. The business comprises the Offshore Wind, Onshore Wind, and LM Wind Power businesses. Technologies provided to customers include the Haliade-X platform, our offshore wind turbine, and the next generation high efficiency 3-megawatt onshore wind turbine, as well as maintenance solutions and life extension optionality.

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.

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