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GE Is Losing $1 Billion a Year on Offshore Wind. There's Also a Bright Spot for the Industry. - Barrons - Barron's

Barron's · last updated

GE and Others are Losing Billions on Offshore Wind. New York State Inks Wind Deal with GE - Barrons

GE Is Losing $1 Billion a Year on Offshore Wind. There’s Also a Bright Spot for the Industry.

Oct 26, 2023, 2:45 am EDT

The offshore wind industry has struggled mightily this year, as multiple companies have canceled contracts to build projects in the U.S. as costs to develop them have surged. On Tuesday, investors got some good and bad news about the industry—pointing a way forward for offshore wind but also raising more questions about its near-term profitability.

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