GE Vernova’s second quarter results for 2025 showed continued growth, total orders of $12.4 billion, a growth rate of 4% and a backlog of $5.2 billion for equipment and services. During the quarter, the equipment backlog and slot reservation agreements from its Gas Power division grew from 50 to 55 GW. This is by far GE Vernova’s strongest division, contributing $9.1 billion in revenue and 11% growth.

“We are at the beginning of an investment supercycle into more reliable baseload power, grid infrastructure and decarbonization solutions,” said GE Vernova CEO Scott Strazik.

During the second quarter, the company signed another 9 GW of new gas equipment contracts including 7 GW of slot reservation agreements and 2 GW of orders. In addition, it converted 3 GW of existing slot reservation agreements to orders and shipped 5 GW of equipment. This included orders for 20 heavy-duty units, including 7 HA turbines, and 27 aeroderivatives.

Since that earnings call, the company website has issued a snowstorm of press releases:

• GE Vernova announced a $41 million investment in its historic Schenectady facility to expand generator capacity at its Center of Excellence for Steam and Generator assembly and testing. This will allow for enhancements to the manufacturing of GE Vernova’s H65 and H84 generators, which accompany the company’s HA gas turbines. This latest investment is in addition to more than $130 million it announced for Schenectady since 2023, including a $50 million to build a new manufacturing line that created more than 200 new jobs and a $80 million investment announced this January for gas power and onshore wind work. It also comes on the heels $720 million in investments at its U.S. manufacturing facilities and 1,800 new U.S. jobs over the next two years.
• GE Vernova and Crusoe, an AI infrastructure provider, announced a deal to deliver 29 LM2500XPRESS aeroderivative gas turbine packages to Crusoe AI data centers. This is expected to provide nearly 1 GW of electricity. These aero units can ramp up and down rapidly and have low emissions .
• Electricity Supply Board (ESB) of Ireland and GE Vernova announced a major life extension and modernization project for the Dublin Bay power plant, aimed at enhancing performance, reliability, and increasing output. GE Vernova will implement its GT26 High Efficiency upgrade along with its SEMIPOL technology for Static Excitation Equipment (SEE) and Startup Frequency Converter (SFC). This life extension project is expected to be completed in 2026. The goal is to deliver up to 30 MW of additional power, efficiency gains of up to 1.8% at baseload, and 5% carbon dioxide (CO2) reduction.
• GE Vernova and Deep Sky, a carbon removal project developer, announced an agreement to deploy GE Vernova’s Direct Air Capture (DAC) technology at Deep Sky Alpha in Alberta, Canada. It will be capable of capturing up to 1,500 tons of carbon per year. With operations scheduled to begin by late 2026, Alpha will deploy solid sorbent technology, developed and tested at the company’s Advanced Research Centers.
• GE Vernova has signed an agreement with Enertrag to provide seven 5.5 MW-158m turbines produced at its factory in Salzbergen, Germany. The deal was booked in the second quarter of 2025. The workhorse turbines will be installed at the Bonacker wind farm in Nordrhein-Westfalen in western Germany.
• TPG will acquire GE Vernova’s Proficy manufacturing software business. Proficy’s software portfolio solves industrial challenges across discrete, process, and hybrid manufacturing, as well as metro transit and other infrastructure applications.
• GE Vernova announced the launch of PlanOS, a unified software suite designed to empower energy planners, utilities, and regulators with an integrated system planning platform for a smarter grid. Built on real-world modeling expertise and developed in collaboration with system operators, PlanOS provides a modular, integrated environment to unlock faster iteration and better decision making.
• GE Vernova Hitachi Nuclear Energy (GVH) and Samsung C&T have announced a strategic alliance to advance the deployment of the BWRX-300 small modular reactor (SMR) in strategic global markets outside of North America. The two companies will focus their collective efforts on developing the supply chain and project delivery solutions for GVH’s SMR. Further, they will work together in the potential deployment of five BWRX-300s in Sweden.

With another earnings call due shortly, it will be interesting to see if GE Vernova is making a dent in its order backlog. If the backlog is increasing, it means that the orders coming in continue to exceed its ability to keep up despite the company’s efforts to beef up manufacturing capacity.