(According to GE Vernova) (According to GE Vernova) On March 10, 2026, GE Vernova hosted the Energy of Change Summit in Hanoi. The summit focused on advancing Vietnam’s energy transition as the country moves from planning into large-scale implementation under the Revised Power Development Plan VIII (PDP8R). Centered on the theme “Powering Vietnam: From Concept to Reality,” the discussions covered the next phase of PDP8R execution, including strengthening local capability, enhancing supply chain integration, and improving system flexibility, while also highlighting the latest advances in power generation and transmission technologies.
During the summit, several new initiatives and milestones were announced. Among them, GE Vernova revealed plans to expand its manufacturing capacity in Vietnam to support growing global electrification demand, with an investment of approximately $200 million in its Electrification segment. The investment will fund the development of a new manufacturing facility in Hai Phong, aimed at strengthening production capacity.
The new facility will manufacture large power transformers mainly for High-Voltage Direct Current (HVDC) projects, complementing GE Vernova’s existing HVDC transformer manufacturing facilities in Stafford, UK, and India. These technologies are used to move electricity efficiently over long distances and ensure power networks can safely and reliably handle rising electricity demand.
The Hai Phong facility is planned to be developed in phases, with full operations expected in 2028, subject to regulatory approvals. Once operational, the site is expected to contribute towards GE Vernova’s broader transformer manufacturing capacity while primarily serving growing demand across Asia.
GE Vernova said the project is expected to create approximately 450 jobs by 2030, with a significant number planned to be filled locally. The company also plans to implement workforce training and knowledge-sharing programs in Vietnam, helping develop local capabilities while connecting the Hai Phong facility to GE Vernova’s global electrification manufacturing network.
GE Vernova’s equipment currently supports up to 30% of Vietnam’s electricity needs, reflecting the company’s long-standing presence in the country. Today, GE Vernova employs more than 1,100 people across nine locations in Vietnam, spanning multiple businesses. In addition to the new Hai Phong facility, the company operates the Phu My repair facility and the Dung Quat HRSG manufacturing plant, which are part of its broader global repair and manufacturing network serving customers worldwide.
View the full press release here: https://www.gevernova.com/news/press-releases/ge-vernova-expands-manufacturing-capacity-vietnam-electrification
