NEW YORK, Jan 20, 2026, 11:16 AM EST — Regular session
- Shares of GE Vernova climbed 1.9% to $694.32, defying the wider market downturn
- A Japan offshore wind project is changing its turbine plans following GE Vernova’s decision to drop its 18-MW model
- Investors remain alert for new signs on power demand amid ongoing challenges from strong winds
Shares of GE Vernova edged higher on Tuesday, outperforming the broader market despite a volatile opening. The stock climbed $12.77 to $694.32, after bouncing between $655 and $700.81. Meanwhile, the SPDR S&P 500 ETF dropped roughly 1.1%. Eaton and Vertiv, both linked to grid and data-center power sectors, saw little movement or slight declines.
This shift is significant since traders have treated GE Vernova as a straightforward play on growing electricity demand — and as a gauge for whether the power equipment cycle can endure amid fluctuating rates and macroeconomic jitters. Wind, however, tends to reappear when least expected.
Tension flared again Tuesday. Offshore wind developers continue to revise projects because of rising costs. This ripple effect squeezes turbine suppliers, even as most focus remains on gas turbines and grid equipment.
Mitsui & Co and its partners are now eyeing smaller turbines and a possible one-year delay at their 684-megawatt offshore wind project in Niigata, northern Japan. This follows GE Vernova’s decision to drop its 18-megawatt turbine model amid rising costs. Mitsui plans to switch from 38 turbines at 18 MW each to 46 turbines around 15 MW. Offshore construction is pushed back to April 2028, though operations remain slated for June 2029.
A megawatt measures power output. Larger turbines reduce the number of units required for a project, but redesigns and supplier changes can send developers scrambling to revisit permitting, engineering, and financing.
GE Vernova has acknowledged that wind continues to be a weak spot. Back in October, the company signaled ongoing challenges in its wind segment and noted that tariff uncertainties could weigh on onshore revenue in 2026.
The company’s last big market update came in December, when it projected 2026 revenue between $41 billion and $42 billion. It also boosted its share buyback authorization to $10 billion and doubled its quarterly dividend to 50 cents per share. Free cash flow for 2026 — after capital spending — was forecast at $4.5 billion to $5.0 billion.
William Blair analyst Jed Dorsheimer called the investor day a “full throttle” event, noting turbine production slots are booked through 2028 and expects clarity to stretch to 2030. GE Vernova is ramping up planned gas turbine output, while competitors Siemens Energy and Mitsubishi Heavy have also upped their targets. CEO Scott Strazik mentioned the company’s collaboration with the U.S. government to increase yttrium stockpiles. Reuters
Investors now face the challenge of seeing if the company can turn demand into steady margins and cash flow, all while avoiding unexpected setbacks in wind projects. Tuesday’s update from Japan underscored how offshore wind schedules can still shift abruptly when equipment plans are altered.
GE Vernova will release its fourth-quarter and full-year 2025 results on Jan. 28, ahead of the market open. The company has also planned a webcast at 7:30 a.m. ET.
