GE Spin-Off, GE Vernova, Plans $1.17 Bn Investment in Renewable Energy in Kutch, Gujarat

GE Vernova is making a significant move in India's renewable energy sector with a ₹10,000 crore (about US$ 1.17 Billion) investment in Kutch, Gujarat. The company, which spun off from General Electric (GE) in April 2024, focuses on electrification and decarbonization, aiming to deliver reliable, affordable, and sustainable energy solutions.

This investment aligns with India's ambitious 500 GW renewable energy target by 2030, and it will contribute to the 30 GW hybrid renewable energy park in Kutch-the largest of its kind in Asia. The Gujarat government has already commissioned 1 GW capacity in March 2024.

India is rapidly expanding its renewable energy infrastructure, and GR Vernova’s involvement strengthens the country’s position as the third-largest renewable energy producer globally, after the US and China.

According to a report by Ahmedabad Mirror, a high level delegation of the company led by the COO met Chief Minister Bhupendra Patel and other officers and talked about the project. The CM has assured all cooperation and support for the project.

GE Vernova is a global energy technology company focused on electrifying and decarbonizing the world, with businesses in Power, Wind, and Electrification, headquartered in Cambridge, Massachusetts.

Beyond this, GE Vernova's Grid Solutions business has secured multi-million dollar orders from Power Grid Corporation of India (PGCIL) to supply 765 kV Shunt Reactors. These reactors will enhance grid stability and efficiency, supporting India's clean energy transition. The equipment will be manufactured at GE T&D India's Vadodara plant, with deliveries scheduled for FY 2025-26.

Additionally, Shailesh Mishra, Asia Pacific Regional Leader for GE Vernova, has emphasized the company's investments in manufacturing capacities in India and the UK, particularly in HVDC links to improve power transmission efficiency

General Electric (GE) has undergone a major transformation, splitting into three independent companies: GE Aerospace, GE HealthCare, and GE Vernova.