Latest news with #gas turbines
Yahoo
12-07-2025
- Business
- Yahoo
GE Vernova Inc. (GEV): It's Not Too Late To Say I Missed Out On It, Says Jim Cramer
We recently published . GE Vernova Inc. (NYSE:GEV) is one of the stocks Jim Cramer recently discussed. GE Vernova Inc. (NYSE:GEV) has been one of the top-performing stocks in 2025 as its shares have gained 55% year-to-date. It is also one of Cramer's top stocks as the CNBC host has maintained that the firm is among the few nuclear power equipment providers that have a clear idea of the future. Cramer's previous comments about GE Vernova Inc. (NYSE:GEV) have speculated that the stock could close the year higher than its level at June's close. He maintained this sentiment during this appearance: 'Very positive piece about GE Vernova. let me use that, and that's the company that makes gas turbines. . .But when you look at that company you say all right I missed that one clearly. And no it's not too late.' Cramer's earlier comments about GE Vernova Inc. (NYSE:GEV) discussed the stock's potential for the remainder of the year. Here is what he said: 'But what do we do with the very different set of winners for the first half? I want you to consider the GE Vernovas and the Howmets and the Palantirs, the stocks that are likely to finish the year dramatically higher from these exalted levels. What do you do with the stocks that have been on a run nonstop for 26 weeks, though? I think you send them on one of those two-week vacations like that Southeast Asia, Cape Town, maybe New Zealand. You pay no attention to them. Let them have a good time. Just take them off your screen, come back to them when the rotations run its course.' While we acknowledge the potential of GEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
02-07-2025
- Business
- Globe and Mail
GE Vernova Wins Puerto Rico Turbine Deal: What Lies Ahead for the Stock?
GE Vernova Inc. GEV recently secured an order from Puerto Rico's RG Engineering to deliver six of its LM2500XPRESS aeroderivative gas turbine packages. Notably, GEV's LM2500XPRESS turbines can be installed quickly, with the ability to achieve up to 39.5% efficiency in simple cycle configuration and up to 54.4% efficiency in combined cycle configuration. As Puerto Rico continues to face energy challenges following severe damage to its grid from Hurricanes Maria (2017) and Fiona (2022), these turbines, with a total electricity generating capacity of approximately 244 megawatts (MW), will help strengthen this territory's grid stability, meet peak summer demand and provide emergency power. This order underscores GE Vernova's expanding footprint in the global gas power industry, thereby enhancing its investment appeal for those looking to add a resilient energy stock to their portfolio. However, before making any hasty decision, let's delve deep into the company's performance of late (in terms of share price movement), future growth prospects as well as risks (if any) to investing in the same. This way, an investor can make an informed decision. GEV Stock Outperforms Industry, Sector & S&P 500 Shares of GE Vernova have surged an impressive 53.8% in the year-to-date period, outperforming the Zacks Alternative-Energy industry 's growth of 23.5% and the broader Zacks Oils-Energy sector 's rise of 0.3%. It has also outpaced the S&P 500's growth of 4.9% over the same period. A similar stellar performance has been delivered by other industry players, such as Talen Energy Corp. TLN and Constellation Energy Corp. CEG, whose shares have surged 39% and 37.6%, respectively, year to date. What Pushed GEV Stock Up? As industries worldwide shift to sustainable energy, GE Vernova supports this transition with advanced technologies that reduce emissions. Its recent clean energy initiatives and growing presence in the low-carbon power sector have likely strengthened investor confidence, as reflected in the year-to-date share price gain. Impressively, in June 2025, GEV secured an order from Rio Tinto, one of Canada's largest private producers of hydroelectricity, for the upgrade of eight turbine-alternator units at the Isle Maligne hydropower plant of Canada. In the same month, GE Vernova Hitachi Nuclear Energy, an alliance between GEV and Hitachi, signed an agreement with the Nordic energy company, Fortum, to enhance potential deployment of the BWRX-300 small modular reactor (SMR) in Finland and Sweden. The company also signed an agreement to supply, service, and commission 12 of its 6.1 MW-158m onshore wind workhorse turbines for Çal??k Renewables's Zatriq I & II Wind Farms, last month. In May, GEV revealed that it will deliver two gas-insulated substations (GIS) in Norway, utilizing its g³ technology to reduce greenhouse gas emissions. In the same month, GEV's LM Wind Power signed a deal with Vestas Wind Systems for a wind turbine blade factory in Poland. Earlier in April, the company signed a significant partnership with Duke Energy for natural gas turbines and other associated equipment to meet America's growing energy demand. GEV entered this year with a $20 million investment plan, supported by Singapore's EDB, to develop next-generation repair technologies for its HA gas turbines at its Global Repair Service Center. What Lies Ahead for GEV Stock? With global electricity consumption expected to rise 3.9% in 2025 and around 4% annually through 2027 (IEA), demand for clean, efficient, and scalable energy solutions is set to soar. GE Vernova's consistent stream of project wins, strategic partnerships, and technology collaborations across hydropower, nuclear, wind, and gas positions it to benefit from this trend. The company's recent initiatives, spanning North America, Europe, and Asia (as mentioned above), underscore its readiness to meet rising energy needs through innovative solutions. This strong alignment between GE Vernova's expanding global operations and projected electricity demand growth supports its long-term revenue and earnings growth potential. In line with this, the Zacks Consensus Estimate for GEV's long-term (three-to-five years) earnings growth rate is pegged at a solid 18%. In fact, the growing demand for electricity from renewable sources worldwide has also been bolstering the long-term growth prospects of other clean energy stocks, such as TLN and CEG. Notably, the long-term earnings growth rate for TLN is 5.2%, while that for CEG is 13.5%. However, a prospective investor should be aware of the challenges that GE Vernova is currently facing, particularly in the offshore wind industry. Notably, the offshore wind industry has been struggling with rising material costs and persistent supply-chain issues for some time now, resulting in multiple project cancellations. As a wind turbine manufacturer, GEV has thus been witnessing increased product and project costs, along with delays in execution timelines. This, in turn, is impacting its offshore wind business' performance, as evident from the 53.7% year-over-year decline in its first-quarter offshore wind revenues (owing to a slower pace of production). Looking ahead, the company's offshore wind business is expected to continue delivering poor performance in the near future, further corroborated by the order decline in this business segment, which may lead to notable financial losses. Now, let's take a quick look at GEV's near-term estimates to see what growth story they depict. Estimates for GEV The Zacks Consensus Estimate for 2025 and 2026 sales implies an improvement of 6.5% and 10%, respectively, year over year. A similar improvement can be witnessed in the company's 2025 and 2026 earnings estimates. Moreover, near-term earnings estimate has shown solid improvement over the past 60 days, except for 2025. The upward revision in earnings estimates indicates analysts' increasing confidence in the stock's earnings-generating capabilities, while the downward revision reflects declining confidence in the same. Image Source: Zacks Investment Research GEV Stock Trading at a Premium In terms of valuation, GEV's forward 12-month price-to-earnings (P/E) is 53.71X, a premium to its peer group's average of 15.22X. This suggests that investors will be paying a higher price than the company's expected earnings growth compared to its peers. Its industry peers are also trading at a premium. While TLN is trading at a forward 12-month earnings of 27.67X, CEG is trading at 29.34X. Final Thoughts To conclude, investors considering GE Vernova may want to wait for a more attractive entry point, considering its currently stretched valuation. However, existing shareholders of this Zacks Rank #3 (Hold) company may continue to retain it, as its robust year-to-date price performance, steady order wins across key clean energy segments, and solid earnings growth potential, supported by upbeat sales estimates and long-term demand projections, signal encouraging prospects. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellation Energy Corporation (CEG): Free Stock Analysis Report Talen Energy Corporation (TLN): Free Stock Analysis Report GE Vernova Inc. (GEV): Free Stock Analysis Report
Zawya
30-05-2025
- Business
- Zawya
GE Vernova's H-Class gas turbines to expand Qurayyah power plant
GE Vernova has announced it has secured an order for five 7H-Class gas turbines - three 7HA.03 and two 7HA.02 units – from Técnicas Reunidas and Orascom Construction (TR & Orascom Construction). The two companies have signed, under a 50-50 joint venture, the engineering, procurement and construction (EPC) contract for Qurayyah Independent Power Plant (IPP) Expansion Project in the Eastern Province in Saudi Arabia. This expansion project, a 3 gigawatt (GW) combined cycle gas-fired power plant with readiness to build a carbon capture unit, aims to bolster electricity production capacity and enhance operational efficiency in Saudi Arabia. Expanding Saudi Arabia's fleet of combined cycle power plants plays a crucial role in Saudi Arabia's plan to generate half of its electricity from gas by 2030 and half from renewables, paving the way to net-zero greenhouse gas (GHG) emissions by 2060, a statement said. Hajr Two Electricity Co, a company owned by ACWA Power, the Saudi Electricity Company (SEC), and Haji Abdullah Alireza & Co signed a Power Purchase Agreement (PPA) for the Qurayyah Independent Power Plant (IPP) Expansion Project with the Saudi Power Procurement Company (SPPC – Principal Buyer) in February 2025. Hajr Two Electricity Co commented: 'The QIPP Expansion Project is a very ambitious project and we are proud to support its development. We look forward to working with TR & Orascom Construction and GE Vernova to contribute to Saudi Arabia's enhancement of its electricity supply as the Kingdom transitions its power generation mix to incorporate more renewable energy in alignment with Saudi Vision 2030 and its ambitious sustainability targets.' 'QIPP project is evidence of Saudi Arabia's strong belief in the future of gas as it emits less CO2 and other pollutants than oil-fueled power plants,' said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. 'We have developed a productive and successful relationship with TR & Orascom Construction building on our proven expertise in natural gas combined cycle plant engineering, operability, and plant integration, and we are delighted to deploy some of our most advanced power generation technologies, with the potential to integrate carbon capture solutions to help significantly reduce carbon dioxide emissions in QIPP's and other gas power plants in Saudi Arabia.' GE Vernova has been playing a pivotal role in fostering the evolution of the Kingdom's energy infrastructure for almost 90 years, supporting economic diversification, localization, high value exports, and talent development efforts and still does so today in support of Saudi Vision 2030. The company currently employs approximately 850 people in Saudi Arabia. GE Vernova's investments in the Kingdom include the Khobar Integration Facility (KIF) for grid solutions, as well as the GE Manufacturing and Technology Center (GEMTEC) campus in Dammam, which encompasses a Services and Repairs Center for gas turbines, the GE Saudi Advanced Turbines (GESAT) facility for the manufacturing of gas turbines, components and accessory modules, the GE MENA Decarbonization Center of Excellence, and a Monitoring & Diagnostics Center for the remote monitoring of power generation assets. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
29-05-2025
- Business
- Trade Arabia
GE Vernova's H-Class gas turbines to expand Qurayyah power plant
GE Vernova has announced it has secured an order for five 7H-Class gas turbines - three 7HA.03 and two 7HA.02 units – from Técnicas Reunidas and Orascom Construction (TR & Orascom Construction). The two companies have signed, under a 50-50 joint venture, the engineering, procurement and construction (EPC) contract for Qurayyah Independent Power Plant (IPP) Expansion Project in the Eastern Province in Saudi Arabia. This expansion project, a 3 gigawatt (GW) combined cycle gas-fired power plant with readiness to build a carbon capture unit, aims to bolster electricity production capacity and enhance operational efficiency in Saudi Arabia. Expanding Saudi Arabia's fleet of combined cycle power plants plays a crucial role in Saudi Arabia's plan to generate half of its electricity from gas by 2030 and half from renewables, paving the way to net-zero greenhouse gas (GHG) emissions by 2060, a statement said. Hajr Two Electricity Co, a company owned by ACWA Power, the Saudi Electricity Company (SEC), and Haji Abdullah Alireza & Co signed a Power Purchase Agreement (PPA) for the Qurayyah Independent Power Plant (IPP) Expansion Project with the Saudi Power Procurement Company (SPPC – Principal Buyer) in February 2025. Hajr Two Electricity Co commented: 'The QIPP Expansion Project is a very ambitious project and we are proud to support its development. We look forward to working with TR & Orascom Construction and GE Vernova to contribute to Saudi Arabia's enhancement of its electricity supply as the Kingdom transitions its power generation mix to incorporate more renewable energy in alignment with Saudi Vision 2030 and its ambitious sustainability targets.' 'QIPP project is evidence of Saudi Arabia's strong belief in the future of gas as it emits less CO2 and other pollutants than oil-fueled power plants,' said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. 'We have developed a productive and successful relationship with TR & Orascom Construction building on our proven expertise in natural gas combined cycle plant engineering, operability, and plant integration, and we are delighted to deploy some of our most advanced power generation technologies, with the potential to integrate carbon capture solutions to help significantly reduce carbon dioxide emissions in QIPP's and other gas power plants in Saudi Arabia.' GE Vernova has been playing a pivotal role in fostering the evolution of the Kingdom's energy infrastructure for almost 90 years, supporting economic diversification, localization, high value exports, and talent development efforts and still does so today in support of Saudi Vision 2030. The company currently employs approximately 850 people in Saudi Arabia. GE Vernova's investments in the Kingdom include the Khobar Integration Facility (KIF) for grid solutions, as well as the GE Manufacturing and Technology Center (GEMTEC) campus in Dammam, which encompasses a Services and Repairs Center for gas turbines, the GE Saudi Advanced Turbines (GESAT) facility for the manufacturing of gas turbines, components and accessory modules, the GE MENA Decarbonization Center of Excellence, and a Monitoring & Diagnostics Center for the remote monitoring of power generation assets. – TradeArabia News Service
Zawya
28-05-2025
- Business
- Zawya
GE Vernova to supply gas turbines for Qurayyah IPP expansion project in Saudi Arabia
GE Vernova announced on Wednesday that it has secured an order for five 7H-Class gas turbines - three 7HA.03 and two 7HA.02 units for 3,000 megawatts (MW) Qurayyah Independent Power Plant (IPP) expansion project in Saudi Arabia. The contract was awarded by the Engineering, Procurement and Construction (EPC) consortium comprising Técnicas Reunidas and Orascom Construction, according to the press statement issued by the NYSE-listed company. The combined cycle gas-fired power plant is designed to be carbon-capture ready. The project is being developed by Hajr Two Electricity Co., a joint venture between ACWA Power, Saudi Electricity Company (SEC), and Haji Abdullah Alireza & Co. The Power Purchase Agreement (PPA) was signed with Saudi Power Procurement Company (SPPC – Principal Buyer) in February 2025. (Writing by Deva Palanisamy; Editing by Anoop Menon) (
