GE Vernova to Invest $50 Million in New Assembly Line
May 23 2023 - 11:40AM
Dow Jones News
By Will Feuer
GE Vernova, which comprises the portfolio of General Electric's
energy businesses, said it will invest $50 million in its
Schenectady, N.Y., facility to establish a new manufacturing
assembly line for its onshore wind business.
The company said it will also hire about 200 new, full-time
employees for the new assembly line. The site will assemble three
key components for GE Vernova's 6.1 MW turbine.
The company said the passage of the Inflation Reduction Act has
helped stoke demand for renewable energy and revitalize the
market.
"We're proud to expand our American manufacturing footprint and
workforce," said Scott Strazik, CEO of GE Vernova.
GE is preparing to spin off GE Vernova into a separate company
next year.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
May 23, 2023 12:25 ET (16:25 GMT)
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