Venture Global, GE Vernova, Baker Hughes sign power deals

GE Aerospace's joint venture CFM has signed a memorandum of understanding with Turkish Airlines to purchase over 300 engines. The agreement highlights a significant investment in aircraft engines by the airline, potentially benefiting GE Aerospace's revenue and market position.

CFM International, a GE Aerospace and Safran joint venture, secured a provisional order for over 300 LEAP-1B engines from Turkish Airlines to power new Boeing 737 MAX jets. The agreement covers maintenance for Turkish Airlines' entire LEAP-1B fleet, including previously ordered engines. Financial details were not disclosed.

CFM International, a joint venture between GE Aerospace and Safran, secured a $490M U.S. defense contract for aircraft engines. The deal covers engines for the Navy's P-8A Poseidon and C-40A aircraft, with options for foreign sales. The engines are part of the CFM56-7B series, used in Boeing-built aircraft.

Venture Global (VG) signed supply deals with GE Vernova (GEV) and Baker Hughes (BKR) for 11.5 GW of off-grid power, aiming to support AI data centers and its LNG operations. The project could support 10 GW of compute load by 2034, with first equipment orders expected by 2026. VG shares rose 3.2% in pre-market trading, while GEV and BKR saw mixed reactions.

GE Vernova (GEV) and Baker Hughes (BKR) signed a power deal with Venture Global (VG) for up to 16 gas-fired power islands, with 8 reserved. The total deal value could reach $17.2B by 2034, though only a portion is firm. GE Vernova's Power segment had $21B in revenue over the last four quarters, with Q2 revenue up 14%.

Venture Global, Inc. signed agreements with GE Vernova and Baker Hughes for up to 16 power island units, supporting LNG and data center expansion. The units, totaling 16 GW, will not rely on the public grid. The company plans to start orders by late 2026, with potential 10 GW compute capacity by 2034, subject to market demand and customer commitments.