GE Vernova Slows in Q2, 2024 Election Impact on Wind

GE Vernova recently held their Q2 investor presentation, sharing the company will focus on their the 3.6-154, 6.1-158 Cypress, and Haliade-X 15.5-250 turbine lines. So far, the company's wind division is not headed toward profitability in 2024. What can the company do to turn their financials around? And then a focus on the 2024 US presidential election--what implications will it have on the wind industry? Does the IRA bill hang in the balance? In other news, Siemens Gamesa will resume production of their 4X wind turbines this year, Dogger Bank A has installed interarray cables, and a carbon-free cement plant is planned for Massachusetts. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com Allen Hall: Joel, we're moving to the 2020s. We now have our email newsletter, Uptime Tech News on Substack. Ooh, nice. I like it. It's slick. It's almost super modern. And if you haven't subscribed to Uptime Tech News, you need to, because who else is going to go through the news? The right way and pick out those articles that the technical people working in wind and the financial people working in wind need to know besides us engineers who filter through it and get all the riffraff out and give you the stuff that you need. That is the whole point of Uptime Tech News. So if you haven't subscribed to it, do it. You can actually go on Substack and search Uptime Tech News. You can subscribe via Substack. And it's on LinkedIn. The newsletter is nuts, crazy busy. There's thousands of people who are subscribed to our newsletter, Uptime Tech News on LinkedIn. I like LinkedIn, but I like the Substack version even more. Welcome to the Uptime Wind Energy Podcast. I'm Allen Hall, and I'll be joined by the rest of the Uptime host after these headlines. Kicking off our headlines, Siemens Gamesa is set to breathe new life into its turbine production. The company plans to resume manufacturing of its 4X wind turbines later this year, following a pause due to technical issues. This move is expected to reactivate sales of the 4X turbine, with production of the 5X model slated to follow next year. The news comes as a welcome relief to staff, as the current order book has been running low, and this development could signal a turning point for Siemens Gamesa, which has faced challenges in recent months. Shifting our focus offshore, a major milestone has been reached at the world's largest offshore wind farm. Over 200 miles of interarray cables have been successfully installed at Dogger Bank A, the first phase Of this ambitious project. The 66 kilovolt cables manufactured by Hellenic cables will connect 95 massive Haliade-X 13 megawatt turbines to the offshore converter station. The EU is doubling down on its commitments to renewables reelected EU commission president, Ursula von der Leyen. Has announced a new clean industrial deal, emphasizing homegrown clean energy. This plan includes support for clean tech manufacturing and a new EU competitiveness fund. Von der Leyen has also promised to cut red tape and expedite permitting processes for renewable projects in the coming years. Vestas is pushing the boundaries of onshore wind technology. The company has completed the installation of its V172 7. 2 megawatt prototype at its test center in Denmark. This behemoth is Vestas largest and most powerful onshore wind turbine to date. Based on the Inventus platform. It promises a 12 percent increase in annual energy production ...