Strazik says GE Vernova is investing in Electrification to capture extraordinary growth, with the Trench deal strengthening its ability to serve global customers.
We are investing in our Electrification segment to meet the extraordinary growth opportunity in front of us, and our acquisition of Trench will further strengthen our ability to serve global customers with outstanding technology we know well.
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Strazik expects more than 55,000 U.S. transmission substations to be completely rebuilt or upgraded to higher voltages within the next decade, a big grid-equipment opportunity.
completely rebuilt or upgraded to higher voltages in the next decade.
Strazik said GE Vernova is still in the early stages of an electricity investment super cycle.
still in the early stages of this electricity investment super cycle.
GE Vernova's CEO said the company has selected contractors and finished planning for Venezuela's grid repairs but will not begin work until it is paid upfront.
This is not an environment in which we are going to act without receiving payment upfront,
Strazik says Trench's high-voltage products, execution and customer ties are key to building the resilient grid needed for the electricity supercycle.
Trench's differentiated high-voltage , strong execution and deep customer relationships are key enablers of the modernised, resilient grid required to keep pace with the electricity supercycle,
Strazik highlights Trench's margin-accretive profile and roughly $5 billion backlog and framework agreements extending into the next decade.
a margin-accretive financial profile and approximately $5 billion in backlog and framework agreements, some of which reach into the next decade