GE Vernova (GEV) Chief Executive Scott Strazik said during an investors presentation Tuesday that the company is resuming the installation of blades at its wind farms in the North Sea and the Atlantic following operational failures earlier in the year.
Strazik said that while the company expects its wind segment to improve in 2025, it will not be profitable due to the technical problems, which he said delayed the installation timeline and cost GE Verona "a lot of money."
Strazik added that the company has gone through a complicated period over the past few years regarding offshore and that it has walked away from a lot of bidding activity. He said the company is not going to make deals just to meet decarbonization commitments or growth projections.
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