Utility Dive•about 1 month ago
GE Vernova expects to end 2025 with an 80-GW gas turbine backlog that stretches into 2029
Key Takeaway
The robust demand and extended lead times for GE Vernova's gas turbines signal a tightening market for dispatchable generation, necessitating significantly advanced planning for developers and large power consumers seeking new firm capacity.
AI Summary
- •GE Vernova anticipates an 80 GW gas turbine backlog by the end of 2025, with deliveries extending into 2029.
- •Gas turbine reservations are expected to be fully booked through 2030 by the end of 2026, indicating extremely long lead times for new equipment.
- •This strong demand for gas turbines suggests a tightening market for dispatchable generation, potentially leading to higher equipment costs and project delays for developers.
- •Large power consumers seeking new firm capacity should anticipate longer procurement timelines and potentially increased costs due to the high demand for gas turbines.
- •The weakness in GE Vernova's wind business line implies continued reliance on thermal generation for grid stability and capacity in the near to medium term.
Topics
capacity-marketccgtemissionsinterconnectoempolicyqueuesimple-cyclewind