GE Vernova Inc. (NYSE:GEV) is investing in the modernization of its Veresegyház manufacturing facility in Hungary as the site celebrates its 25th anniversary.
The company said the project will include the construction of a large on-site solar installation, upgraded lean manufacturing lines and the recruitment of more than 80 additional employees over the next several years.
Solar park to supply half of the site’s electricity
The renewable energy project is being delivered in two phases.
The first stage included the installation of a 2-megawatt solar carport covering more than 500 parking spaces. The second phase, which is currently under development, features a 14.5-megawatt photovoltaic system alongside a 40-megawatt-hour battery energy storage facility.
The expansion will comprise more than 21,000 solar panels across 15 hectares, with the project expected to be connected to the electricity grid by autumn 2025.
Once completed, the solar installation is expected to generate enough renewable electricity to meet around 50% of the facility’s annual power consumption of 33 gigawatt-hours.
Investment strengthens manufacturing capabilities
GE Vernova invested $24.5 million in the Veresegyház site during the previous year, with support from the Hungarian Investment Promotion Agency (HIPA).
The funding has been used to install new lean production lines, advanced precision manufacturing equipment and five new coating booths fitted with vacuum furnace technology.
The facility serves as GE Vernova’s largest Gas Power manufacturing operation outside the United States and specialises in producing and repairing gas turbine components using technologies including robotic welding and thermal coating systems.
Company continues workforce expansion
The company hired around 100 employees at the Hungarian site last year and is recruiting up to 80 additional workers, including machinists, welders, fitters and assembly operators.
“Reaching our 25th anniversary while simultaneously developing our solar park is a powerful testament to our team’s dedication,” said Viktoria Fodor, GE Vernova’s Veresegyház Plant Manager.
In addition to the Veresegyház facility, GE Vernova also operates a site in Százhalombatta and maintains a Budapest office supporting its Power, Electrification and Wind businesses in Hungary.
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