GE Vernova to Lose $300M, EU Companies Leave Vietnam

GE Vernova's CEO, Scott Straszak, announced at a conference that
the company is on schedule to lose about $300 million in Q3. It
seems the blade failures at Dogger Bank and Vineyard Wind are
resulting in a big chunk of these losses. And many European
companies have decided to leave Vietnam due to the country's
relationship to China. Register to attend AMI's Wind Turbine Blades
Boston, October 2nd and 3rd. Enter to win 2 VIP NASCAR pit passes
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Philip Totaro: Phil, you were just at RE+ in Anaheim, sunny
Anaheim. How'd it go? I was extremely sunny and face meltingly hot
on the first couple of days from the heat wave we've had in
California. It was like a hundred and three degrees on Monday and
then it started cooling off thankfully more recently, but there
were, I don't know the official number but they were telling me it
was close to 40, 000 attendees. So I've done a few of these events
before in at the Anaheim Convention Center, if you're familiar with
it. It can hold that capacity, but it was absolutely bursting at
the seams. And people absolutely everywhere. I've never seen that
so jam packed. The interesting thing about it is there were many
different exhibitors there. But the overwhelming majority of them
seemed like they were supply chain companies. Which was a little
disappointing on my part. I was, I was there to try to talk to
project developers and financiers anyway. But the supply chain
companies that were there covering the spectrum of both residential
and utility scale solar, as well as battery storage technology,
really interesting stuff. There's some, they're making great
strides in some of the solar module manufacturing and sell.
Technology and even some of the packaging and integration is
getting pretty slick. Keep in mind, too, that, CAPEX for solar
compared to wind is still You know what about 15 to 20 percent
lower at this point? Especially in the U. S. market anyway so
you're seeing, it's rather substantial amount of interest at this
point in solar and hybrid battery storage projects. And everybody
that was there, the energy of the event was good. We didn't sadly
do an uptime wind energy podcast there. So they're a little light
on the the wind energy content that, that the, rebranded solar
Power International re, which is now repl, but we hope to be able
to address that in the future. Allen Hall: It's a sunny conference
for our solar and battery festival, which is really what it is.
Makes sense. I just wish when we get to some of our wind
conferences, we're in places that are windy. We don't tend to go to
places that are windy, like Kansas or Oklahoma. Philip Totaro: I
got news for you. It seems like next year we're gonna be in Phoenix
Arizona, right? So that, that's gonna be hot and maybe a little
miserable, cause I think it's happening in May. Allen Hall: Yeah,
we're in a solar hotbed. We should be at a wind site. I know,
irony. I'm Alan Hall, and I'll be joined by the rest of the Uptime
hosts after these news headlines. The United States is seeing
significant growth in offshore wind development. Massachusetts and
Rhode Island are moving forward with three offshore wind projects
totaling 2. 9 gigawatts. The projects, named South Coast Wind, New
England Wind 1, and Vineyard Wind 2, are expected to power
approximately 1. 6 million homes. This development brings both
states closer to their renewable energy goals, with Massachusetts
aiming to reduce greenhouse gas emissions. power sector carbon
emissions by 50 percent by 2030 and 100 percent by 2050, while
Rhode Island targets 100 percent renewable energy use by 2033. In a
related milestone, the Revolution Wind Project has installed its
first offshore wind turbine, marking Rhode Island and Connecticut's
first utility scale offshore wind farm. Developed by Orsted and
Eversource, the project will feature 65 Siemens Gamesa turbines and
generate 704 megawatts when fully operational. The installation is
supported by efforts at three New England ports and is expected to
create 1, 200 jobs. while advancing workforce development and
infrastructure investments across both states. Further south,
Festus has secured its first U. S. offshore wind order for Empire
Wind 1 off the coast of New York. The 810 megawatt order includes
54 V236 15 megawatt turbines and a five year service agreement. The
project will transform the South Brooklyn Marine Terminal into a
major offshore wind hub, supporting the staging and pre assembly of
wind turbine components. Moving onshore, Colorado is leading the
nation in wind energy jobs, ranking third in wind energy related
jobs per capita. For The state is part of a broader trend with wind
turbine service technicians projected to be the fastest growing job
in the United States over the next decade. Colorado's renewable
energy sector continues to gain momentum. With the state ranking
seventh per capita nationwide for wind and solar generation
projects last year. In support of this growing workforce, the
National Fire Protection Association has launched the industry's
first Wind Turbine Technician I certification program. This
initiative aims to provide the emerging wind workforce with the
necessary skills to excel and work safely in the rapidly developing
wind energy sector. The certification is designed for newcomers to
the industry and those who have completed foundational courses in
wind turbines and electrical safety. Turning to Europe, GE Vernova
has announced a milestone agreement for onshore wind, signing a
deal with Public Power Corporation Renewables. to supply 23 of GE
Vernova's 6. 1158 turbines for a wind farm in Romania. This 140
megawatt project expands GE Vernova's presence in Romania, adding
to their existing installed base of more than 700 megawatts in the
country. The project is expected to be fully operational by the end
of 2025 and will support Romania's goal of adding 5 gigawatts of
wind capacity By 2030. However, the European wind industry is
facing challenges. German trade union IG Metall and employee
representatives from Siemens Energy are calling for protection
against unfair Chinese competition in the wind turbine
manufacturing sector. Their concerns were sparked by a preliminary
agreement between German renewable energy asset manager Luxgara and
Chinese manufacturer Mingyang for 16 offshore wind turbines. The
Union warns that heavily subsidized Chinese companies could distort
competition and potentially endanger jobs and energy supply in
Europe. In Asia, Eurus Energy Holdings Corporation has launched the
reconstruction of the Adano Sawa wind farms in Japan. The project
will replace 10 turbines with 7 new 4. 3 megawatt turbines supplied
by Siemens Gamesa. Increasing the total capacity from 13 megawatts
to 43 megawatts. This upgrade aims to maximize the use of local
wind resources and is scheduled for completion by March, 2027.
Lastly, in a development that could reshape the wind energy
landscape, the H two mirror off grid wind project in Denmark has
successfully integrated two electrolyzers with a megawatt scale
wind turbine. This system could soon be replicated on onshore wind
turbines, potentially reducing green hydrogen production costs.
That's this week's top news stories. After the break, I'll be
joined by my co host, CEO, and founder of Intel Store, Phil Totaro.
Joel Saxum: As busy wind energy professionals, staying informed is
crucial. And let's face it, that's why the Uptime Podcast
recommends PES Wind Magazine. PES Wind offers a diverse range of in
depth articles and expert insights that dive into the most pressing
issues facing our energy future. Whether you're an industry veteran
or new to wind, PES Wind has the high quality content you need.
Don't miss out. Visit PESWind. com today. Allen Hall: All right,
Phil, we got a couple of items we need to kick off the show with
and first is the AMI Wind Turbine Blades Boston event on October
2nd and 3rd. And if you haven't registered for that event, you need
to do that now and get your tickets to Boston, which will be
beautiful. In early October, that conference is focused around
materials, design, manufacturing, performance of wind turbine
blades and along with all the testing and maintenance and life
cycle management of blades. So anything to do with blades is going
to be in Boston and you better be there. So just Google AMI wind
turbine blades, Boston, and it'll pop up, go ahead and register and
get yourself to Boston. At Weathergard, we are having a contest, a
VIP contest with NASCAR. And NASCAR driver, Kyle Weatherman, and
that event is on September 28th at the Kansas Speedway in Kansas
City, Kansas. So if you're around that area and want to go. Do
something really cool with NASCAR that allows you to get on track,
get into the pits, get into the garage. You can watch the race from
pit lane and you are right in the middle of the action. Then if you
like that kind of stuff, now's the time. This is free. If you can
win these two tickets, the way to do it is to visit
weatherguardwin. com slash contest. And do it quick, and hopefully
you win. All right, Phil, a lot of news this week coming from GE
Vernova, where Scott Straszak was at a conference and said GE
Vernova, the wind business, is on schedule to lose about 300
million. Yes,