GE Vernova announced on March 4 2026 that it has secured a contract from Italian renewable‑energy operator IVPC Group to supply 17 onshore wind turbines for a new 100‑MW wind farm in Fortore, Benevento, Italy. The agreement was booked in the fourth quarter of 2025 and was awarded in an Italian auction held by the Gestore dei Servizi Energetici (GSE) in December 2025.
The turbines are GE Vernova’s 6.1 MW‑158 m model, featuring two‑piece blade technology, and are scheduled for delivery beginning in the second quarter of 2027. The deal expands GE Vernova’s turbine‑supply footprint in Europe and builds on a prior collaboration with IVPC Group for the Montefalcone wind farm repowering project.
The contract comes amid a challenging period for GE Vernova’s wind segment, which reported increased EBITDA losses in Q2 2025 due to servicing costs and tariffs. However, onshore wind orders grew 53 % in Q4 2025, indicating momentum and a potential turnaround in the segment’s order book.
GE Vernova has invested over $100 million in upgrading its installed wind turbine base and is pursuing a $9 billion R&D investment through 2028 to support its electrification strategy. The new contract aligns with this strategy and provides a new revenue stream as the company works to improve wind‑segment profitability.
While the contract adds order‑book value, it does not immediately impact profitability, as turbine deliveries are scheduled for 2027. Nevertheless, it signals confidence in the Italian market and supports GE Vernova’s broader electrification agenda.
The wind segment remains under pressure, but the new contract, combined with the company’s investment in technology and capacity, positions GE Vernova to capture growth in the European onshore market and strengthen its competitive edge.
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