GE Vernova will acquire Prolec GE
Time:Nov 03,2025
On October 21, 2025, GE Vernova announced its acquisition of the remaining 50% stake in Prolec GE. This acquisition will accelerate the growth of GE Vernova's electrification business, expand GE Vernova's operations and support in North America, and enhance GE Vernova's ability to serve customers in North America and globally, markets currently experiencing rapid growth in electricity demand. Prolec GE, originally founded in 1995 by Xignux and General Electric (GE), is a leading supplier of grid equipment, manufacturing transformers of various power ratings and voltages, with approximately 10,000 employees at seven manufacturing sites worldwide, five of which are located in the United States.
GE Vernova CEO Scott Strazik stated, "We are delighted to complete this highly attractive and strategic move to acquire the remaining stake in our joint venture with GE, Prolec GE, from Xignux, which will accelerate GE Vernova's strengthening of its global grid technology capabilities." “This acquisition aligns with our strategic and financial objectives and benefits our customers as it strengthens our business in North America, where demand for grid equipment is growing rapidly. This transaction will immediately boost profitability before synergies materialize, and our strong familiarity with our partner will drive further profit growth for GE Vernova. I would like to thank the teams at both companies and look forward to the Prolec GE team joining GE Vernova,” said Juan Ignacio Garza Herrera, CEO of Xignux. “We made this decision with confidence, building on our many years of valuable collaboration with General Electric (GE) and its subsidiary GE Vernova. This transaction will provide the business and team with the opportunity to continue growing with the strong support of a global leader,” he added. “We reaffirm our commitment to Mexico and will continue to drive our other businesses in North America through investments in innovation, technology, and expansion, while contributing to the development and integration of the region. I would like to express my sincere gratitude to all the employees at Prolec GE, whose talent, dedication, and commitment are invaluable.” Recently, Prolec GE has made over 3 investments in capacity expansion and innovation in the US and Mexico. The acquisition is expected to total $5.275 billion, including a recently announced $140 million investment in Goldsboro, North Carolina, which will create 330 new jobs over the next three years. Under the acquisition agreement, GE Vernova will pay $5.275 billion upon completion of the transaction, expected to be paid in equal installments of cash and debt. The acquisition is expected to close by mid-2026, subject to regulatory approvals.
GE Vernova is a global energy company focused on power, wind, and electrification, supported by its accelerator business. With over 130 years of experience addressing global challenges, GE Vernova is uniquely positioned to lead the energy transition by driving global electrification and decarbonizing the world. GE Vernova helps customers power economic development and provides electricity essential for health, safety, security, and improved quality of life. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people in about 100 countries. Adhering to its mission of "changing the world with energy," GE Vernova technology helps create a more affordable, reliable, sustainable, and secure energy future. GE Vernova currently employs approximately 18,000 people in all 50 U.S. states. With over 129 years of experience in Mexico, GE Vernova now employs more than 1,700 people at five sites, providing 38 gigawatts of generating capacity—nearly 42% of the country's total electricity generation—through advanced technologies including eight HA gas turbines, the Laguna Verda nuclear power plant, and one of the world's largest F-class gas turbine units.
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