GE Vernova has acquired the remaining 50% stake in Prolec GE, finalising its transition from a joint venture (JV) with Xignux to full ownership.
The deal, first announced in October 2025, concluded following approvals from relevant regulatory authorities.
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The purchase totalled $5.28bn (91.43bn pesos), financed through an equal split of cash and debt, as previously stated by the company.
Prolec GE operates across seven manufacturing locations in the Americas, including five sites in the US, and employs around 10,000 staff.
The company manufactures transformers and related components for power generation, transmission and distribution, and provides a range of transformer services.
With this transaction, Prolec GE is now consolidated under GE Vernova following three decades as a JV partner.
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By GlobalDataGE Vernova CEO Scott Strazik said: “We are building on a decades-long partnership and combining the strengths of our two companies to offer customers a broader portfolio and operate at a higher capacity to fulfil expectations, especially in North America where grid demand is strong.”
Moving forward, Prolec GE will operate within GE Vernova’s Electrification segment and adopt the brand in the marketplace.
The existing leadership team will remain in place, with Ricardo Suarez continuing as CEO of Prolec GE and reporting to Philippe Piron.
Suarez said: “We are proud of our strong culture and the legacy we have built, and as part of the one GE Vernova family, we will adapt and embrace the GE Vernova Way while maintaining the local culture, heritage and identity that made us who we are today.”
GE Vernova electrification CEO Philippe Piron said: “Our customers are asking for more capacity from the grid. With Prolec GE now fully part of GE Vernova, we are better equipped to respond to that demand and better serve our installed base, utilising our combined manufacturing footprint for transformers and a strong pipeline of innovation to serve the electrification needs of the world.”
