GE Vernova announces initiatives worth up to $14.2 billion during President Trump's state visit to accelerate Saudi Arabia's energy transition with U.S. technology and expertise
Saudi Arabia, May 14 -- In the presence of HRH Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Donald Trump, President of the United States of America, GE Vernova Inc. (NYSE: GEV) announced initiatives worth up to $14.2 billion for its world class energy equipment technology and services to support power generation and grid stability projects. The announcements include up to $2 billion in backlog or on a reservation agreement as of the first quarter of 2025, with future contracts and memorandums of understanding (MOUs) for agreements spanning across the next four years. The initiatives are expected to play a strong role in supporting the Kingdom to achieve its energy goal...
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