Gas power is experiencing a stunning resurgence, driven by soaring electricity demand. As utilities scramble to secure new capacity, a turbine supply crunch is unfolding.

GE Vernova Inc. plans to supply 7 high-efficiency gas turbines capable of running on hydrogen to repurpose a former coal-fired power plant into a natural gas-powered data center campus, providing economic and environmental benefits.

GE Vernova acquired Woodward Inc.’s production facility in Greenville. The plant, located at 201 Forrester Drive, produces heavy-duty gas turbine combustion parts. GE Vernova acquired all assets related to Woodward Inc.’s Greenville site. The acquisition’s financial terms have not been disclosed.

Susquehanna initiated coverage of GE Vernova with a "Positive" rating and a $370 price target, citing strong demand for the company’s gas turbines and electrification technologies amid rising global power needs.

However, according to a recent report from CTVC, gas turbine manufacturers are struggling to meet the surging demand, with delivery backlogs beginning to stretch past 2029.