GE Vernova, Seatrium Will Build HVDC System for TenneT's Dutch Offshore Grid Project [Yahoo! Finance]
GE Vernova Inc. (GEV)
Company Research
Source: Yahoo! Finance
Dutch transmission system operator TenneT for construction of a 2-GW high-voltage direct current (HVDC) electric offshore transmission system in the Netherlands. The groups on June 10 said construction is set to begin this month, with commissioning expected by 2031. The contract is part of a Framework Cooperation Agreement with TenneT announced by GE Vernova and Seatrium in March of last year. The consortium has said the HVDC system supports TenneT's goal of grid-connecting at least 40 GW of offshore wind generation capacity produced in the Dutch and German areas of the North Sea. The agreement is expected to cover three projects—Jmuiden Ver Beta, IJmuiden Ver Gamma, and Nederwiek 2—that are each valued at about €2 billion ($2.15 billion). The contract announced Monday supports Nederwiek 2; the contracts for the other two projects were announced in March 2023. Nederwiek 2 is located about 60 miles off the coast of the Netherlands. [caption id="attachment_219927" align="alignnone" widt
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GEV
Earnings
- 4/26/24 - Miss
GEV
Sec Filings
- 6/5/24 - Form 4
- 6/5/24 - Form 4
- 6/5/24 - Form 4
- GEV's page on the SEC website