China’s Guangming Plant starts commercial operation, powered by GE Vernova’s H-Class equipment

Shenzhen, Guangdong Province, China - (January 9, 2025) GE Vernova Inc. (NYSE:GEV) and Harbin Electric today announced that Chinese state-owned power utility Shenzhen Energy Group Corporation Co., Ltd.'s Guangming power plant has achieved the start of operation in Shenzhen Guangming, a district of Guangdong province in China. Powered by three GE Vernova 9HA.01 gas turbines, Guangming plant is expected to deliver up to 2 gigawatts (GW) of electricity to the most populous province in the country, with a population of approximately 127 million.

China aims to achieve a carbon emissions peak by 2030 and achieve carbon neutrality by 2060. Driven by these goals, the country is committed to reduce coal's share of its energy mix and expedite the building of highly efficient gas-powered combined cycle plants, like Guangming power plant. This project is also aligned to local government policy reform in the Greater Bay Area focused on the coal-to-gas energy transition.

GE Vernova has collaborated with Shenzhen Energy Group for two decades, and both are committed to addressing the growing electricity needs while building a lower-carbon, more efficient and safer energy system in Guangdong. GE Vernova H-Class gas turbines not only have the ability to generate significant electrical output in a flexible and efficient way, but also help to ensure reliability of supply. This is crucial for the population of Guangdong province.

"Natural gas-fired generators have the lowest CO2 emissions of all fossil power generation fuels-and are ideal for countries like China where the need to transition from coal at scale while retaining reliability of supply is paramount," said Xu Xin, President of GE Vernova Gas Power China Services. "We are excited to work together with Harbin Electric and bring our advanced HA technology, which offers among the lowest carbon emissions per amount of fossil fuel in the industry, to give power plant operators, like Shenzen Energy Group, the ability to use fossil fuels more efficiently and lower carbon emissions compared to older coal power plants."

To further advance on the path towards decarbonization utilizing gas power, GE Vernova 9HA.01 gas turbine has the capability to burn up to 50% by volume of hydrogen when blended with natural gas-offering a pathway for even lower carbon emitting operations.

For this project, Harbin Electric provided steam turbines and generators, and the gas turbines were provided by the Joint Venture called General Harbin Electric Gas Turbine (Qinhuangdao) Co., Ltd ("Joint Venture"), which was formed in 2019 between GE Vernova and Harbin Electric as a joint effort to focus on heavy duty gas turbine localization, aiming to deliver more efficient and reliable support for China natural gas power plants.

Operating in China for over 40 years, GE Vernova has been delivering innovative products and services that create significant value for its gas power generation customers, helping power plant operators to tackle the energy transition challenge. GE Vernova Gas Power serves more than 110 customers and more than 240 gas turbines in China, with an installed power capacity of 50 gigawatts (GW). To date, GE Vernova has secured six HA projects with 13 9HA gas turbines in China, delivering a total capacity of nearly 10 GW.

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Notes to editors

* decarbonization as used in this article is intended to mean the reduction of carbon emissions on a kilogram per megawatt hour basis.

Forward Looking Statements:

This document contains forward-looking statements - that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova's expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "estimate," "forecast," "target," "preliminary," or "range." Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company's business operations, financial results and financial position and on the global supply chain and world economy.

GE Vernova and Harbin Electric

GE Vernova's Gas Power has continuously deepened its cooperation with its local partner, establishing a strategic partnership with Harbin Electric. The two companies established Qinhuangdao Energy Service Center in 2004, focusing on the maintenance and services of heavy-duty gas turbines hot gas path components. From 2017, GE Vernova entered this strategic partnership to build a gas turbine manufacturing joint venture in Qinhuangdao. GE Vernova has long operated with a commitment to a comprehensive localization structure that effectively increases its responsiveness to customer needs and reduces the cost of new units and services.

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 more than 80,000 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 Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and power plant technologies and services with the industry's largest installed base.

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.