GE Vernova, a subsidiary of General Electric (GE), has announced plans to invest $50 million in an assembly line for manufacturing components for its 6MW onshore wind turbines. The assembly line will be installed at GE Vernova's facility in Schenectady, New York, and is expected to create around 200 new full-time jobs, including positions for skilled union operators, manufacturing engineers, and leadership roles.
The assembly line will focus on assembling critical components for the 6.1-158 onshore wind turbine, such as the machine head, hub, and drive train. This move is aimed at meeting the growing demand for wind turbines in the United States. The 6.1-158 turbine is designed for low-to-medium wind speeds and features an innovative carbon two-piece blade design, which improves logistics and increases energy output from challenging locations.
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The manufacturing assembly line will be integrated into the existing building at GE Vernova's Schenectady facility, which currently manufactures steam turbines and generators. The installation is expected to be completed by summer 2023, with the first set of components being produced by early autumn.
The recent passing of the Inflation Reduction Act has played a significant role in driving this investment, as it has revitalized the market and increased demand for renewable energy. This legislation has also contributed to improving energy security and competitiveness.
In addition to the investment from GE Vernova, the state of New York has agreed to provide up to $2.5 million through Empire State Development's Excelsior Jobs Program to support the project.
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Scott Strazik, CEO of GE Vernova, expressed his support for the recent domestic content guidance provided by the administration, which has given the company the confidence to move forward with this project. He also expressed enthusiasm for future guidance and announced GE Vernova's commitment to expanding its American manufacturing footprint and workforce. Strazik emphasized the importance of this investment in strengthening Schenectady's role in driving the future energy transition.
The GE Vernova portfolio includes various energy businesses, such as Renewable Energy, Power, Digital, and Energy Financial Services. A tax-free investment grade spin-off of GE Vernova from GE is planned for early 2024.
