‘Industry challenges’ see GE Vernova reorganise offshore wind business

In a statement, GE Vernova said, “On 19 September 2024 we submitted a proposal to our European Works Council related to proposed changes in our offshore wind business globally. 

“The proposal reflects industrywide challenges for wind and aims to transform our offshore wind business into a smaller, leaner and more profitable business within GE Vernova.” 

Company sources said GE Vernova continues to be impacted by inflation and global supply chain challenges, and is experiencing lower-than-expected volume associated with delays to key projects. They highlighted that many of the issues it is addressing are also being faced by the company’s competitors. If implemented, the proposals could impact approximately 900 jobs globally. 

The company’s aim is to focus to return its offshore wind business to profitability and integrate it into GE Vernova’s wind segment, as per its previously announced turnaround strategy.