GE Vernova Power Orders Up 77% to 83GW Backlog, Acquires Prolec GE for $5.3B
GE Vernova’s Power segment posted a 77% organic order surge in Q4, lifting its gas turbine backlog from 62GW to 83GW and targeting 100GW by end-2026. The Electrification unit grew revenue 36% and closed a $5.3B deal for the remaining Prolec GE stake.
1. AI Grid Supercycle Fuels Power Segment Growth
Since its April 2024 spin-off from General Electric, GE Vernova has capitalized on surging data center electricity demand, driving a 77% organic order increase in Q4 2025 for its gas turbines. This lifted the Power segment’s backlog from 62GW to 83GW, with plans to hit 100GW by end-2026 and expand annual manufacturing capacity to meet long-term utility and independent power producer contracts, including a strategic alliance with Xcel Energy and reservation agreements like the one with Maxim Power.
2. Prolec GE Acquisition Strengthens Electrification
On Feb. 2, 2026, GE Vernova completed its $5.3 billion purchase of the remaining 50% of Prolec GE, securing control over critical transformer manufacturing amid multi-year lead times. The acquisition supports a 36% revenue jump in the Electrification segment and aligns with the launch of the GridBeats automation suite, boosting segment margins to 17.1%.
3. Wind Segment Recovery and Profit Discipline
The Wind segment posted a roughly $600 million EBITDA loss in 2025 due to offshore project delays but is shifting focus to profitable repowering work. Management deliberately reduced onshore wind backlog while securing 1.1GW of repowering orders, upgrading existing turbines for faster, higher-margin returns.