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GE Vernova Inc (NYSE:GEV) shares are trending higher on Wednesday. The company announced the signing of its first onshore wind repower upgrade contract outside the U.S.
What Happened: GE Vernova and Taiwan Power Company (TPC) announced an agreement for the supply of 25 repower upgrade kits in Taiwan. The announcement was made during the B20 South Africa 2025 Summit in Johannesburg.
According to terms of the deal, GE Vernova will provide repower upgrade kits for 25 GE Vernova 1.5 MW-70.5m turbines, along with a five-year operations and maintenance services package. Retrofit installation will take place in 2026 and 2027 after the first parts are delivered in the fourth quarter of 2025.
GE Vernova’s capabilities will help Taiwan meet its decarbonization goals, with the historic international agreement building on the company’s experience repowering over 6,000 wind turbines in the United States.
Wind repowering allows turbines nearing the end of their intended operational life to be upgraded and put back into service with improved performance and reliability. The project will make the most of its current infrastructure and assist Taiwan Power Company to produce reasonably priced, renewable electricity by extending the life of its equipment.
“As we bring our proven repowering capabilities to customers outside the U.S. for the first time, we’re proud to work with TPC to support Taiwan’s energy transition,” said Uzair Memon, chief commercial officer for GE Vernova’s Onshore Wind Services Business.
“The deal also reinforces how our services capabilities drive lifecycle value for our customers through fleet reliability, technology investment and an integrated global supply chain.”
GEV Price Action: GE Vernova shares were up 6.68% at $592.09 at the time of publication on Wednesday, according to Benzinga Pro.
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Image: courtesy of GE Vernova.
Posted In: GEV
