GE Vernova loses second court bid to exit Vineyard Wind turbine supply and service contract
A federal judge in Boston denied GE Vernova's renewed motion to terminate its turbine supply and service obligations at the $4.5 billion Vineyard Wind project, according to Windpower Monthly and Recharge News. The ruling forces GE Vernova to continue work on the stalled project despite its arguments for exit. For insurers and asset managers with exposure to Vineyard Wind, the decision leaves contractual liability and completion risk with the OEM but does not resolve the project's broader permitting and financial uncertainties. Reuters also confirmed the ruling independently.
Read at Windpower MonthlyRepublicans propose higher federal inspection fees for US offshore wind farms than for oil and gas
A House of Representatives spending bill under consideration would impose inspection fees on existing and new US offshore wind farms at rates reportedly exceeding those applied to oil and gas operations, according to Windpower Monthly. The proposal adds a further regulatory cost layer to an already stressed US offshore wind pipeline and could affect project economics and insurance underwriting assumptions. The report notes the measure is still in legislative consideration and has not been enacted.
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