Varco Energy Selects GE Vernova To Partner On The Launch Of Native River 57MW/138MWh Battery System
Portfolio Pulse from Happy Mohamed
UK-based Varco Energy and GE Vernova have announced a partnership to develop a 57MW/138MWh Battery Energy Storage System (BESS) named Native River, south of Liverpool. The project supports the UK Government's move to net zero and provides new-build investment into the renewable energy sector. GE Vernova will supply the complete BESS for the project, including long-term maintenance services. Construction is set to begin in Q3 2023 with grid connection expected in early 2024.
September 07, 2023 | 2:46 pm
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POSITIVE IMPACT
GE Vernova, a business of General Electric, is partnering with Varco Energy to develop a large-scale battery energy storage system in the UK. This partnership could boost GE's presence in the renewable energy sector.
The partnership with Varco Energy for the development of a large-scale battery energy storage system could enhance GE Vernova's, and by extension General Electric's, reputation and presence in the renewable energy sector. This could potentially lead to more such projects in the future, positively impacting GE's stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80