GE Vernova wind losses deepen

Automatically composed with AI from the cited sources

Wind orders fell 40% organically to $1.2bn and revenue declined 10% to $2bn in the second quarter, while segment EBITDA losses widened to $275m from $165m a year earlier, driven by lower onshore equipment deliveries and higher offshore project costs. GE Vernova’s SunZia onshore wind farm in New Mexico became operational during the period, and the company maintained its full-year wind outlook of a low-double-digit revenue decline and approximately $400m in EBITDA losses.