GE Vernova in $9B deal to buy high-voltage manufacturer as gas turbine orders slow

Utility Dive · Brian Martucci · 2026-10-29 13:40 UTC

The acquisition of Trench Group will help GE Vernova capitalize on rising electricity demand, company executives said.

GE Vernova delivered “strong financial results” in the third quarter, despite a slowdown in gas turbine orders and slot reservation agreements, CEO Scott Strazik told investors during a Wednesday earnings call.

Total gas turbine gigawatts under contract rose to 122 GW from 116 GW last quarter – an increase of just 6 GW, compared with double-digit GW quarterly increases earlier in 2026.

The company expects its companywide order backlog to exceed $200 billion by next quarter and to have at least 130 GW of gas power equipment under contract by year-end.

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