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GE Vernova’s shares gained 3% after the company secured a new contract from AESL Projects, a subsidiary of Adani Energy Solutions, boosting investor sentiment and lifting the stock.
GE Vernova is a global energy technology company with capabilities across Power, Wind, and Electrification.
The deets: the company has won a contract to build a large power station that can move a huge amount of electricity. It will be able to handle 2,500 MW of power, split into two equal parts, using high-voltage direct current technology.
2,500 MW at ±500 kV = enough clean power to run a major Indian city with approximately 25,00,000 households, with efficient long-distance transmission.
Once completed, this station will help carry renewable energy generated at Khavda to South Olpad, making it easier to supply clean power to that region.
The importance: Khavda in Gujarat is developing into one of the world’s largest solar and wind parks, capable of producing enough power for millions of homes.
Since it’s in a remote desert, the energy must be moved to high-demand areas. South Olpad acts as the key link, helping deliver this clean power to major cities and industrial hubs where it’s needed most.
