# Who are GE Vernova's customers? Who does GE Vernova earn revenue from?
Canonical: https://valuechain.wiki/ge-vernova · Facet: customers · Updated: 2026-09-24T04:43:24.819559+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: GE Vernova's confirmed revenue counterparties include Ameren Corporation, NRG 에너지, Baker Hughes Company plus 8 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 11 revenue edges, backed by 10 dated sources, 5 of them primary filings (as of 2026-09-24).

### 아메렌 (high)  → /ameren.md
- metric: Count 4 combustion_turbine_generators · contracted for 2028 in-service · GE combustion turbine generators contracted for the Big Hollow Energy Center
- note: GE Vernova contracted with Ameren Missouri to supply four GE 7FA.04 combustion turbine generators for the Big Hollow Energy Center, with a preliminary purchase order in 2024 and final notice to proceed in 2025 securing the production slots.
- [confirms] Missouri Public Service Commission (EN, filing, published 2025-06-26) https://efis.psc.mo.gov/Document/Display/837660: "The four combustion turbine generators planned for the CTG Project are already under contract with GE. Contracts were executed in 2024 to secure production and delivery of the units in time for the planned in-service date."

### AI 데이터센터·유틸리티 (발전·전력망) (high)
- note: Supplies gas turbines and grid to AI data centers and utilities like Crusoe ($45.3B Electrification backlog) — upstream of a structure where each data center needs generation and grid first.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-01) https://www.sec.gov/Archives/edgar/data/1996810/000199681026000051/gev_arx2025xwo9xarsxedgarx.pdf: "29 LM2500XPRESS turbines to Crusoe, etc."
- [confirms] ValueDeepDive (KO, research, published 2026-01-01) https://valuedeepdive.com/ge-vernova-gev-stock-analysis-ai-power-infrastructure/: "29 LM2500XPRESS turbines to Crusoe, etc."

### NRG 에너지 (high)  → /nrg-energy.md
- note: Project development agreement with NRG Energy for 5.4 GW of gas combined-cycle capacity plus 3.6 GW of 7HA gas turbine slot reservations, supplying turbines and equipment for NRG's data center large-load buildout.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-24) https://www.sec.gov/Archives/edgar/data/1013871/000101387126000004/nrg-20251231.htm: "On February 13, 2025, NRG signed a strategic Project Development Agreement with GE Vernova ( GEV ) and Kiewit s subsidiary, TIC, to develop and construct up to 5.4 GW of new gas-fired, combined cycle generation projects... slot reservation agreements with GEV for the procurement of 3.6 GW of 7HA gas turbines."
- [confirms] Utility Dive (EN, news, accessed 2026-07-11) https://www.utilitydive.com/news/nrg-aims-for-2026-next-step-in-54-gw-gas-deal-with-ge-vernova-kiewit/805692/: "GE Vernova and Kiewit will build 5.4 GW of gas generation for NRG, phased in from 2029 to 2032."

### 베이커 휴즈 (high)  → /baker-hughes.md
- note: GE Vernova maintains a heavy-duty gas-turbine supply agreement and an aeroderivative technology supply and development agreement with Baker Hughes, but payments were not disclosed.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-05) https://www.sec.gov/Archives/edgar/data/1701605/000170160526000007/bkr-20251231.htm: "GE Vernova ... as direct suppliers"

### 듀크 에너지 (mid)  → /duke-energy.md
- metric: Count 11 gas_turbines · April 2025 arrangement · Number of GE Vernova 7HA gas turbines that may advance under the arrangement
- note: GE Vernova entered an arrangement to supply Duke Energy with 7HA gas turbines and associated equipment for rising generation needs, and the announced plan covers projects for up to 11 turbines.
- [confirms] Duke Energy News Center (EN, ir, published 2025-04-24) https://news.duke-energy.com/releases/duke-energy-and-ge-vernova-announce-significant-arangement-for-gas-turbines-and-associated-equipment: "The arrangement includes a plan to advance specific projects for up to 11 7HA gas turbines."

### 엑셀 에너지 (mid)  → /xcel-energy.md
- metric: Count 5 gas_turbines · 2026 strategic alliance reservation agreement · Number of GE Vernova F-class gas turbines reserved for purchase
- note: GE Vernova signed a reservation agreement with Xcel Energy for the purchase of F-class gas turbines and also reserved wind-turbine capacity for the utility's future projects, with five gas turbines disclosed in the order and no pricing disclosed.
- [confirms] Xcel Energy Newsroom (EN, ir, published 2026-02-03) https://newsroom.xcelenergy.com/news/xcel-energy-and-ge-vernova-announce-strategic-alliance-agreement-to-advance-the-future-of-energy: "Xcel Energy executed a Reservation Agreement for the purchase of five, F-class gas turbines."

### 마이크로소프트 (mid)  → /microsoft.md
- note: Supplies gas turbines and power equipment to Microsoft data centers — the channel for hyperscalers securing power alongside GPUs.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-01) https://www.sec.gov/Archives/edgar/data/1996810/000199681026000051/gev_arx2025xwo9xarsxedgarx.pdf: "AI-datacenter power demand drives surging gas-turbine orders."
- [confirms] ValueDeepDive (KO, research, published 2026-01-01) https://valuedeepdive.com/ge-vernova-gev-stock-analysis-ai-power-infrastructure/: "AI-datacenter power demand drives surging gas-turbine orders."

### 아마존 (mid)  → /amazon.md
- note: Supplies gas turbines and power equipment to Amazon data centers — a generation channel in the race to secure AI power.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-01) https://www.sec.gov/Archives/edgar/data/1996810/000199681026000051/gev_arx2025xwo9xarsxedgarx.pdf: "AI-datacenter power demand drives surging gas-turbine orders."
- [confirms] ValueDeepDive (KO, research, published 2026-01-01) https://valuedeepdive.com/ge-vernova-gev-stock-analysis-ai-power-infrastructure/: "AI-datacenter power demand drives surging gas-turbine orders."

### 알파벳 (구글) (mid)  → /alphabet.md
- note: Supplies gas turbines and power equipment to Alphabet (Google) data centers — a beneficiary of rising on-site generation demand.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-01) https://www.sec.gov/Archives/edgar/data/1996810/000199681026000051/gev_arx2025xwo9xarsxedgarx.pdf: "AI-datacenter power demand drives surging gas-turbine orders."
- [confirms] ValueDeepDive (KO, research, published 2026-01-01) https://valuedeepdive.com/ge-vernova-gev-stock-analysis-ai-power-infrastructure/: "AI-datacenter power demand drives surging gas-turbine orders."

### NextEra Energy (mid)  → /nextera-energy.md
- note: Gas turbines and generation gear to the utility.
- [confirms] SEC EDGAR (EN, filing, published 2025-10-23) https://www.sec.gov/Archives/edgar/data/0000753308/000075330825000055/neeq32025exhibit99.htm: "Gas turbines and generation gear to the utility."

### PPL 코퍼레이션 (mid)  → /ppl.md
- note: GE Vernova supplies the 7HA.03 gas turbine, steam turbine, generator, and heat-recovery steam generator ordered by PPL Corporation subsidiaries LG&E and KU for Mill Creek Unit 5 and will also provide long-term monitoring and operating services.
- [confirms] GE Vernova (EN, ir, published 2024-04-11) https://www.gevernova.com/news/press-releases/ge-vernova-advanced-technology-help-lge-and-ku-diversify-utilities-portfolio: "GE Vernova secured an order for its 7HA.03 combined-cycle plant equipment from LG&E and KU."

Reverse side: https://valuechain.wiki/ge-vernova/suppliers.md · Ripple: https://valuechain.wiki/ge-vernova/ripple.md

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