About 900 jobs could be lost as GE Vernova's offshore wind business plans to downsize.
“On September 19, we submitted a proposal to the GE Vernova European Works Council relating to proposed changes to our global offshore wind industry. “The aim is to transform our offshore wind business into a smaller, leaner and more profitable business within GE Vernova,” a GE Vernova spokesperson said in an email to offshoreWIND.biz. said in an emailed statement.
This could affect about 900 roles worldwide, company officials said, and GE Vernova will work to support potentially affected employees in the coming months. “We are committed to supporting everyone who may be transitioning within or outside of GE.”
The decision to wind down its offshore wind operations comes after lower-than-expected production due to inflation and global supply chain challenges, as well as delays at GE Vernova's major project.
With this move, the company aims to restore its offshore wind business to profitability and integrate it within its wind segment, which is said to be in line with GE Vernova's wind power business turnaround strategy. .
Regarding the reason for the division's downsizing, company officials pointed out that many of the issues mentioned above are industry-wide, and that GE Vernova's competitors face similar challenges.
It remains to be seen how this move will impact the offshore wind turbine OEM environment and capacity build-out. In Europe, Vestas, Siemens Gamesa and GE Vernova will be joined by China's Mingyang Smart Energy, which could set up shop in Italy. In the US, GE Vernova's Haliade-X platform has been selected for several projects, with Vestas and Siemens Gamesa also gaining market share.
