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    New York: Governor Hochul Announces GE Vernova to Invest $50 Million to Locate an Onshore Wind Nacelle Manufacturing Operation to Schenectady County

    May 24, 2023 - Contify Investment News


      GE Vernova will invest $50 million to locate an onshore wind nacelle manufacturing operation to Schenectady, creating at least 160 new full-time, renewable energy jobs. Empire State Development has agreed to provide up to $2.5 million in performance-based Green Excelsior Jobs Tax Credits to support the creation and retention of at least 200 jobs.

      Original Press Release:

      Albany, New York, May 23 -- Empire State Development of New York issued the following news release:

      - Project Bolsters New York State's Nation-Leading Climate Agenda which is the Most Aggressive Climate and Clean Energy Initiative in the Nation

      - GE Vernova is Committed to Creating at Least 160 New Jobs in the Capitol Region

      Governor Kathy Hochul today announced that GE Vernova will invest $50 million to locate an onshore wind nacelle manufacturing operation to Schenectady, creating at least 160 new full-time, renewable energy jobs. This announcement complements New York State's efforts to be a national leader in growing the green economy, reducing greenhouse gas emissions, and combating climate change.

      "General Electric has a long and illustrious history in New York State and has been a leader in cutting-edge innovation for well over a century," Governor Hochul said. "We are proud to partner with GE Vernova to realize New York's vision of become a leading manufacturing hub for wind technology and to bring us closer to achieving our nation-leading climate goals, securing a better and cleaner future for generations."

      GE Vernova CEO Scott Strazik said, "We applaud the administration for the recent domestic content guidance, which gives us the certainty to move forward on this exciting project and look forward to supporting additional guidance. We're proud to expand our American manufacturing footprint and workforce to continue building and innovating energy technology that is cleaner, by bringing wind turbine component assembly — and an estimated 200 new jobs — to New York. This state, and the Capital Region, are an important part of GE's history and this investment will strengthen Schenectady's role in driving the energy transition in the future."

      GE will invest in facility renovations and new machinery and equipment to support the production of nacelles for the company's line of 6.1 megawatt onshore wind turbines. The nacelle is the part of the turbine that houses the components that transform the wind's kinetic energy into mechanical energy to turn a generator that produces electricity. The manufacturing assembly line will be installed in the building where GE Vernova continues to manufacture steam turbines and generators. Empire State Development (ESD) has agreed to provide up to $2.5 million in performance-based Green Excelsior Jobs Tax Credits to support the creation and retention of at least 160 jobs — with the potential for 200 positions.

      Empire State Development President, CEO and Commissioner Hope Knight said, "Under Governor Hochul's leadership ESD is laser-focused on growing the green economy and bringing well-paying manufacturing jobs to New York State. GE is a global leader in developing renewable energy technology and providing clean, renewable power throughout the world, and we are thrilled that they will continue to grow their legacy in Schenectady."

      NYSERDA President and CEO Doreen M. Harris said, "As we solidify New York as a national leader in advancing renewable energy under Governor Hochul, we will continue to attract and grow the private-public partnerships that make the clean energy industry thrive in our home state as well. GE Vernova's investment in wind nacelle manufacturing is a huge win for the Capital Region that will create new green jobs while supporting our clean energy transition."

      New York has a robust pipeline of 120 large-scale renewable energy and transmission projects, which are expected to deliver over 14,200 megawatts of new clean power to the grid when completed — enough to power nearly five and a half million New York homes. The State's commitment to building out new green energy transmission, led by 250 miles of new major upgrades already underway throughout the state, and with the Clean Path New York and Champlain Hudson Power Express transmission lines approved in April, will allow the current pipeline of renewables to power over 66 percent of New York's electricity from renewable sources once operational. This renewable energy portfolio will be bolstered by NYSERDA's sixth competitive solicitation, announced last September, calling for 2,000 megawatts or more of new large-scale renewable energy projects, which maintains the predictable pace of state-contracted opportunities for private renewable energy developers. NYSERDA expects to announce the awards in the summer of 2023.

      Chair of the Schenectady County Legislature Anthony Jasenski said, "Schenectady County welcomes this $50 million investment and 200 new jobs to Building 273 at the main GE campus. I want to thank Governor Hochul and Empire State Development for their outstanding efforts to bring this new wind turbine product line and good paying jobs to our community. We also thank GE Vernova CEO Scott Strazik and his Renewable Energy team for selecting Schenectady County to receive this important new assignment as GE Vernova leads the way in the transformation to a green energy future."

      Schenectady Mayor Gary McCarthy said, "From my first day as Mayor, I have worked closely with GE and the company's dedicated employees to keep the Schenectady campus competitive so that we can attract new investment and new product lines. Today, we thank Governor Hochul, Empire State Development and GE Vernova for this outstanding news that our GE campus right here in Schenectady will help build the next generation of wind turbines. This means that Schenectady will be a key part of the energy transformation that is underway here in New York State and around the world."

      Assemblymember Angelo Santabarbara said, “This green energy investment that GE Vernova has committed to making in Schenectady County marks another important step in achieving our goal of building more sustainable, vibrant communities. With the General Electric Company’s deep roots in Schenectady, developing this onshore wind nacelle manufacturing operation extends the company’s legacy, supports our economy and brings new good-paying jobs to our community. Schenectady has a long history of innovation, and it’s exciting to see that same innovation, in what’s now being called New Schenectady, bring wind power technology manufacturing that will power the New York of tomorrow.”

      New York State's Nation-Leading Climate Plan

      New York State's nation-leading climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues fostering a green economy across all sectors and ensures that at least 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation's most aggressive climate and clean energy initiatives, New York is on a path to achieving a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economy wide carbon neutrality by mid-century. A cornerstone of this transition is New York's unprecedented clean energy investments, including more than $35 billion in 120 large-scale renewable and transmission projects across the state, $6.8 billion to reduce building emissions, $1.8 billion to scale up solar, more than $1 billion for clean transportation initiatives, and over $1.8 billion in NY Green Bank commitments. These and other investments are supporting more than 165,000 jobs in New York's clean energy sector in 2021 and a 2,100 percent growth in the distributed solar sector since 2011.

      To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including requiring all new passenger cars and trucks sold in the State be zero emission by 2035. Partnerships are continuing to advance New York's climate action with nearly 400 registered and 100 certified Climate Smart Communities, nearly 500 Clean Energy Communities, and the State's largest community air monitoring initiative in 10 disadvantaged communities across the state to help target air pollution interventions and combat climate change.

      About GE Renewable Energy

      GE Renewable Energy, an integral part of the GE Vernova portfolio of energy businesses, is a nearly $13 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With around 36,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.

      GE Vernova, a dynamic accelerator comprised of our Power, Renewable Energy, Digital and Energy Financial Services businesses, focused on supporting customers' transformations during the global energy transition.

      [Category: Energy Equipment & Services, Renewable Electricity, ESG, Hirings]

      Source: Empire State Development of New York


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