Utility Dive•about 2 months ago
Vineyard Wind sues to force GE Renewables to complete work on 800-MW offshore project
Key Takeaway
This dispute underscores the significant financial and project execution risks developers face from OEM performance issues and supply chain reliability in large-scale renewable projects.
AI Summary
- •Vineyard Wind is suing GE Vernova over an 800-MW offshore wind project, alleging $853 million in costs due to defective blades.
- •GE Vernova is threatening to cease work due to a payment dispute, potentially delaying the significant 800-MW offshore wind project.
- •This highlights substantial supply chain and OEM performance risks for large-scale renewable energy developers, with potential cost overruns and project delays.
- •The dispute involves a developer withholding payment to offset defect-related costs, setting a precedent for contractual enforcement in major energy projects.
Topics
financingoemppawind
Article Content
The GE Vernova subsidiary is threatening to walk over a payment dispute. The developers say their contract allows them to withhold payment to offset costs incurred by the supplier’s defective blades, which they put at $853 million.