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,
All statements by Scott Strazik ›
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.
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
Strazik expects GE Vernova's backlog to top $200 billion in Q4 and targets at least 130 GW of gas equipment under contract by the end of 2026.
Chief Executive Scott Strazik said the company expects the backlog to exceed USD 200 billion in the fourth quarter and aims to exit 2026 with at least 130 gigawatts of gas equipment under contract.