GE Vernova Stock Rises Premarket After Wind-Turbine Supply Deal In Germany

GE Vernova (GEV) shares rose 0.15% in early premarket trading on Wednesday after the company said it had signed an agreement with Germany's Enertrag to provide seven wind turbines produced at its Salzbergen facility.

The workhorse 6 MW turbines, featuring 164-meter rotors, will be installed at the Bonacker wind farm in Nordrhein-Westfalen, western Germany. The deal marked the second new order in Germany that the company booked at Husum Wind Fair, following an agreement with renewable energy firm Prokon Regenerative Energien eG that was announced on Tuesday.

“The latest project builds on our long-standing relationship and reflects the value they see in our workhorse product strategy,” said Gilan Sabatier, a GE Vernova executive.“Drawing on our industrial footprint in Salzbergen, we are well-positioned to execute that strategy as we work to meet Enertrag's needs and those of other customers in Germany.”

Retail sentiment on Stocktwits about GE Vernova was in the 'bearish' territory at the time of writing.

While GE Vernova's power business has seen record growth this year, the wind business has lagged, particularly due to weakness in the U.S. land.

This comes amid a shift in policy in the U.S. as President Donald Trump has repeatedly criticized wind and solar energy, alleging the wasteful use of land and the misuse of federal incentives. His signature tax and spending bill curbed many of the tax credits for renewable projects and imposed more stringent eligibility requirements for qualifying for the remaining incentives.

According to BloombergNEF data, wind investments fell 67% in the first half of the year compared to the same period in 2024. Spending on onshore wind dropped 80% in the first half of this year compared to the second half of last year.

The growth in international markets such as Europe could cushion the blow. Germany installed approximately 3.2 gigawatts of onshore wind in 2024, as part of its pledge to produce 80% of its power from renewable sources.

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