GE Vernova Inc. (NYSE:GEV) stock is down during Monday’s premarket session. The company is entering into a gas turbine and generator reservation agreement with Maxim Power Corp.

This news comes as broader markets experienced slight declines, with the S&P 500 down 0.21% on the previous trading day.

GEV Secures Turbine Slot for 2030 Delivery

Maxim Power announced that it has secured a manufacturing slot for a 7HA.02 gas turbine and generator package from GE Vernova, with a target delivery by 2030.

To hold this slot, Maxim is required to provide a non-refundable deposit, which will be credited toward the final purchase price in a definitive sales agreement.

The agreement is part of Maxim’s Prairie Lights Power project in Alberta, which is expected to see total spending of up to $60 million in 2026.

The turbine selection will require an amendment to the project’s regulatory permits, but this is anticipated to be a routine process.

Recent Turbine, Wind Orders Win

Last week, GE Vernova announced an agreement with Xcel Energy (NASDAQ:XEL) to support energy projects through the 2030s. The partnership aims to improve reliability, affordability and sustainability for Xcel Energy customers.

GEV Shows Strong Short-Term Trend

GEV stock is currently trading 12.1% above its 20-day ...