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GE Vernova Expands Wind Power Footprint With New German Project
Yahoo Finance· 2025-09-16 13:29
Core Insights - GE Vernova Inc. will supply eight 6MW-164m turbines to Prokon Regenerative Energien eG for a wind farm repowering project in Germany, emphasizing its "Workhorse Product Strategy" for onshore wind [1] - The repowering initiative aims to enhance energy generation from existing wind farms, supporting Germany's renewable energy targets [2] - The company’s operations in Salzbergen position it favorably to meet domestic demand for wind energy solutions [2] Industry Context - Germany installed approximately 3.2 gigawatts of onshore wind capacity in 2024, with a government goal of achieving 80% of electricity from renewable sources by 2030, making repowering a key strategy [4] - The recent deal follows another significant project where GE Vernova partnered with Ireland's Electricity Supply Board to modernize the Dublin Bay power plant, expected to add nearly 30 megawatts of power [5] Company Performance - GE Vernova's stock saw a slight increase of 0.21%, trading at $629.96 in premarket [6]