New Energy
GE Vernova Expects More Trouble for Struggling Offshore Wind Industry
- ‘The economics of this industry don’t make sense,’ CEO says
- Industry facing higher costs, weak prices and slowing demand
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GE Vernova Inc., the maker of the biggest offshore wind turbines in the Western hemisphere, sees grim prospects for a beleaguered industry that’s facing slowing demand and weak pricing.
“The reality is, the economics of this industry don’t make sense,” Chief Executive Officer Scott Strazik said Wednesday in an interview at Bloomberg News headquarters in New York.