GE Vernova
Several clean energy industries were clear losers after former President Trump's reelection, and offshore wind and EV company stocks took hits the day after the election.
GE Vernova reported its onshore wind business had its best quarter in three years but its performance was canceled out by problems in its offshore wind business.
New Jersey’s offshore wind sector looks to take a key role in the East Coast turbine industry despite the closure of the state’s two most advanced projects.
The BPU approval gives offshore wind developer Invenergy time to find an economically viable turbine before committing more resources to the project.
Vineyard Wind and GE Vernova have released an overview of their action plan for debris cleanup and the eventual resumption of construction on the Vineyard Wind 1 project in the wake of the blade failure and collapse on July 13.
The defect is believed to be isolated but the other hundred-plus blades made at the same factory will be inspected to be sure.
Construction of Vineyard Wind 1 has paused and operation of completed wind turbines halted as cleanup and investigation of a blade failure continues.
Wood Mackenzie reports Western wind turbine manufacturers saw demand for their products ease in 2023 amid a stalled market while Chinese companies saw surging demand.
Three provisional contracts totaling 4 GW and constituting the entire result of New York's third offshore wind solicitation have been cancelled.
The combined impact of the Inflation Reduction Act and Infrastructure Investment and Jobs Act could add up to 475 GW of new solar and 250 GW of new wind power, according to DOE.
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