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In a recent conversation with CNBC’s Jim Cramer, Scott Strazik, the CEO of GE Vernova, highlighted that the current expansion of electric load in the United States is the most significant since the post-World War II industrial surge.
Strazik remarked, “We must look back to 1945, following the conclusion of the Second World War; that’s the level of infrastructure development we are poised to undertake.” He emphasized the dual necessity of this initiative for both economic growth and national security, asserting, “We must replicate this effort now, and that is precisely our plan.”
According to Strazik, the past two to four decades have seen rapid technological advancements affecting the electric power grid, which have often resulted in uneven outcomes for various businesses. However, he believes that the upcoming power infrastructure development will catalyze the economic advancement the U.S. requires, alongside the integration of emerging artificial intelligence technologies.
GE Vernova, the power division that emerged from General Electric, recently reported a strong quarterly performance that surpassed analyst expectations, resulting in a share price increase of just over 3% by the end of the trading day. The firm has also reaffirmed its guidance for the full year, despite potential challenges posed by tariffs.
During the interview, Strazik touched upon GE Vernova’s gas division, highlighting that the company has already received sufficient orders for gas turbines to be fully allocated through 2026 and 2027. He stated that natural gas will play a crucial role as major technology companies continue to expand data centers, noting that the company has secured significant orders linked to this sector.
“We have made substantial progress in decarbonizing the U.S. electric grid through cold gas switching, and gas will be instrumental in augmenting the production of wind and solar energy,” Strazik explained. “Without the integration of gas, achieving the desired levels of renewable energy penetration globally will be unattainable.”
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