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Vineyard Wind Sues GE Vernova, US Monopile Factory Bankrupt

Vineyard Wind Sues GE Vernova, US Monopile Factory Bankrupt

Published 3 months, 1 week ago
Description

Allen covers EEW American Offshore Structures’ Chapter 11 filing, Vineyard Wind suing GE Vernova for $545 million, Europe’s exit from Korea, and wind project wins in Australia and Canada.

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There is a story unfolding across this industry right now. It is a story of two worlds. One world is closing its doors. The other is throwing them wide open.

Let us start in New Jersey. EEW American Offshore Structures filed for Chapter Eleven bankruptcy on April eighth. This was the first monopile manufacturing facility ever built in the United States. New Jersey Governor Phil Murphy announced a two hundred fifty million dollar investment in the Paulsboro Marine Terminal back in twenty twenty. It was called the largest industrial offshore wind investment in the country at the time. At full buildout… five hundred thousand square feet of production space. More than one hundred monopiles per year. Five hundred workers. They even built the first American-made monopile… for Orsted’s Ocean Wind project. It weighed three million pounds. It measured three hundred feet long.

Then Orsted canceled Ocean Wind One and Two. Then Shell pulled out of Atlantic Shores. Without contracted work… workers disassembled and recycled finished monopiles for scrap. Federal policy shifts removed the pipeline of future projects. A landlord eviction filing followed. And then… Chapter Eleven. That is a two hundred fifty million dollar facility… with nowhere left to go.

Now stay with us. Because just offshore… another American offshore wind story is fighting for its life. Vineyard Wind… the sixty-two turbine project fifteen miles south of Martha’s Vineyard… filed suit in Massachusetts against GE Renewables. GE Vernova says Vineyard Wind owes it three hundred million dollars for work already performed… and it wants to walk away at the end of April. Vineyard Wind says not so fast.

The developer says GE still owes five hundred forty-five million dollars for what it calls inexcusably poor performance after a catastrophic turbine blade collapse in July of twenty twenty-four. Fiberglass blade fragments washed onto Nantucket beaches during peak tourist season. Sixty-eight of seventy-two blades had to be removed and replaced. That set the project back nearly two years. Construction did reach completion in March… making Vineyard Wind the first offshore project to finish under the current administration. But now the only contractor capable of completing the remaining work… wants out. A court hearing was scheduled for Thursday.

And now… look eastward. Something similar is playing out in Korea. European offshore wind companies are exiting the Korean market one by one. Corio Generation, a British firm owned by

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