GE Vernova could not agree turbines switch on NY wind projects, CEO says [Reuters]
GE Vernova Inc. (GEV)
Company Research
Source: Reuters
for three New York offshore wind developments before the contracts were canceled, CEO Scott Strazik told Reuters on Thursday. Last week, New York it had awarded for three major offshore wind developments. State officials largely blamed the cancellations on GE Vernova's decision to scrap its 18 megawatt turbine plans, which the wind farm developers had planned to use. "We just collectively, as a system, couldn't get it across the line on the those projects in that auction," Strazik said. Strazik said the move away from the super-sized turbine was not uncommon in the product development process and he expects a 15.5 megawatt replacement prototype turbine in late 2025. The U.S. offshore wind industry has been dogged by ballooning costs tied to supply chain problems, high interest rates and inflation. There has been a cascade of project cancellations with three European developers taking a combined $5 billion in writedowns in the last year. Offshore wind is key to plans by U
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- North America HVDC Market Analysis to 2030 Featuring GE Vernova, Hitachi Energy, and Siemens Energy [Yahoo! Finance]Yahoo! Finance
- Europe HVDC Market Analysis to 2030 Featuring GE Vernova, Hitachi Energy, and Siemens Energy with Focus on UK, Germany, Italy, Netherlands, & France [Yahoo! Finance]Yahoo! Finance
- GE Vernova Recommends Shareholders Reject "Mini-Tender" Offer by TRC Capital Investment Corporation [Yahoo! Finance]Yahoo! Finance
- GE Vernova Recommends Shareholders Reject “Mini-Tender” Offer by TRC Capital Investment CorporationBusiness Wire
- Next Hydrogen Reports Q1 2024 Financial Results [Financial Post (Toronto, Ontario, Canada)]Financial Post
GEV
Earnings
- 4/26/24 - Miss
GEV
Sec Filings
- 4/4/24 - Form 4
- 4/4/24 - Form 4
- 4/4/24 - Form 4
- GEV's page on the SEC website