When business delegates gather for B20 USA at the Wharf in Washington on November 9 to 11, the group’s energy work will be led by Scott Strazik, CEO and president of GE Vernova. The company’s order book offers a direct reading on the question before that task force: how to pay for and build the electricity supply that growth now requires.
This profile is part of our Top 100 series on companies that have taken part in the G7, G20, B20, W20, COP and APEC processes.
The company
GE Vernova is headquartered in Cambridge, Massachusetts, and reports approximately 85,000 employees across approximately 100 countries. It operates through three segments: Power, Electrification and Wind. Its customers include utilities and data center operators.
Results for the third quarter of 2026, released October 28, show the scale of demand. Orders reached $29 billion, up 96 percent organically. Revenue was $12.6 billion, up 27 percent, and net income was $1.3 billion. Backlog, defined as remaining performance obligation, reached $197 billion.
Gas equipment is central to that figure. Gas Power equipment backlog and slot reservation agreements rose from 116 gigawatts to 122 gigawatts in the quarter. The company now anticipates at least 130 gigawatts by the end of 2026, and it expects backlog to exceed $200 billion in the fourth quarter. These are company forecasts and carry the risks set out in its filings, including supply chain, tariff and policy changes.
The same day, GE Vernova agreed to buy Trench Group, a high-voltage grid equipment maker, from investment firm Triton Partners. The purchase price is the equivalent of $9.0 billion, and closing is expected in late 2027. The company said the deal would bring an existing supplier in-house and add capacity for key grid equipment.
The B20 role
The U.S. Chamber of Commerce, which is hosting the B20 for the first time, named Strazik in July as chair of the Energy Task Force. The Chamber says that group focuses on powering global growth through secure, abundant and affordable energy supply and infrastructure. The other task force chairs are Ken Griffin of Citadel, on economic growth; Jim Fitterling of Dow, on trade; and David Zapolsky of Amazon, on innovation.
In the Chamber’s announcement, Strazik said the world “needs more electricity so that people and the planet can thrive.”
Why it matters to delegates
GE Vernova sits between policy and physical delivery. Decisions on permitting, trade and financing shape how quickly turbines and grid equipment can be ordered and installed. Its results show that customers are reserving manufacturing capacity well ahead of delivery. Delegates in Washington will be able to compare that with the recommendations the task force puts forward for the G20.
Sources
- GE Vernova reports strong third quarter 2026 financial performance, October 28, 2026
- GE Vernova to acquire Trench Group, October 28, 2026
- Business Leaders from Citadel, Dow, GE Vernova and Amazon to Lead B20 USA Task Forces, U.S. Chamber of Commerce, July 16, 2026
- B20 USA Task Forces, U.S. Chamber of Commerce
