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GE Vernova Cautious on US Offshore Wind, Prioritizes Profitability Amid $106 Million Q1 Loss as Stand-Alone Business.

GE Vernova, the manufacturer of the megaturbine, has expressed caution about the US offshore wind industry, stating it will wait for it to “thrive” before supplying new wind farms. The company’s CEO, Scott Strazik, stated that it will be “highly selective” to supply wind farms as it aims to make its wind segment profitable. Despite a $106 million loss for the first quarter of 2024, this is the company’s first financial quarter as a stand-alone business. Strazk emphasized the complexity in offshore wind and the potential role it will play in the energy transition.

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