GE Vernova plans to clear a $4bn offshore wind equipment backlog by 2024 due to improved market conditions.
GE-N energy spin-off GE Vernova expects to clear a $4bn backlog in offshore wind equipment by 2024, signalling improved market conditions for the sector. The company, which has faced cancellations and delays due to soaring inflation, interest rate hikes and supply chain issues, is planning to add better economics and terms to its backlog. GE Vernova CEO Scott Strazik said the backlog will "meaningly convert to revenue over the next two years".
March 06, 2024
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