GE Vernova plans to close its acquisition of Prolec GE early next month, improving its competitive position in fast-growing international markets for low-voltage electrical distribution equipment and boosting its long-term financial outlook, the company said Wednesday.
The pending acquisition was one of several pieces of good news GE Vernova shared in its fourth-quarter and full-year 2025 earnings call on Wednesday. The company’s Electrification and Power segments were particularly well positioned for “growing, long-cycle electric power market,” CEO Scott Strazik said in remarks to investors and stock analysts.
The company’s third segment, Wind, remains challenged by U.S. policy shifts on offshore wind but saw solid order growth for the full year thanks to higher onshore orders.
GE Vernova’s Power segment includes the company’s gas turbine business, which has seen rising demand and favorable pricing from utilities and independent power producers looking to serve data centers and other power-hungry industrial customers.
Strazik touted strong, demand-driven gas turbine pricing trends. In a report published late last year, analysts tracking GE Vernova for William Blair said GE Vernova was booking turbine orders at $2,500/kW with prices “still rising.” In the fourth quarter, the cumulative backlog for the gas power business — including orders and slot reservations — hit 83 GW, up 21 GW from the previous quarter.
Thanks in large part to strong turbine pricing and continued backlog growth, GE Vernova sees 16% to 18% organic revenue growth next year in its Power segment. Echoing comments he made at the company’s annual investor day last month, Strazik said GE Vernova would continue to ramp up gas turbine production at its existing facilities and reach 20 GW of annual output capacity by the middle of 2026.
New opportunities for Electrification
Fourth-quarter order value grew 55% year over year for GE Vernova’s Electrification segment, continuing a string of strong quarterly performances. The company said its grid solutions and power conversion and storage businesses drove the growth amid rising global demand for switchgears, high voltage direct current equipment and alternating current substation equipment, among other critical grid infrastructure.
Strazik said GE Vernova’s comprehensive product portfolio — further expanded by the Prolec GE acquisition — allows it to serve increased electricity demand more effectively than other manufacturers. The company aims to double its output of transformers and switchgears from 2024 to 2028, he said.
“We are able to provide a very unique solution to the end customers today with the linkage of the power generation and the electrical equipment together in a way that it is difficult for many other providers to do,” he said.
Strazik said the Electrification segment would continue to expand. GE Vernova plans to test its first solid-state transformer this summer before shipping it to an unnamed “hyperscaler customer,” heralding “a new product line in 2027 for deliveries later in the decade.”
Challenges and bright spots for Wind
Alluding to the political and economic challenges facing its beleaguered Wind segment, Strazik characterized GE Vernova’s approach as “focusing on what we can control.”
That segment took a significant financial hit in the fourth quarter amid the Trump administration’s ongoing assault on offshore wind. Though courts have allowed four of the five projects halted by Trump last month to restart construction, the company forecast continued weakness this year.
GE Vernova supplied turbines for the nearly-complete Vineyard Wind, which was cleared to restart earlier this week. The order sets up the company to sprint toward completion by the end of March, after which Strazik said it would lose access to its installation vessel.
Strazik sounded more optimistic about GE Vernova’s onshore wind business amid an expected increase in turbine orders in the second half of 2026. The company booked 1.1 GW of repowering orders in 2025 — a likely growth area for wind turbine manufacturers broadly as turbines deployed earlier this century age out of service.
