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Court Keeps GE on Vineyard Wind, France Plans Huge Wind Farm
Description
Allen covers GE Vernova ordered to stay on Vineyard Wind, TotalEnergies filing for France’s largest renewable project, Spain’s repowering grants, and Dajin’s Hong Kong stock debut.
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Good Monday.
Wind energy made news this week from Boston courtrooms…
to the coast of Normandy …
to the stock exchange floors of Hong Kong.
Let us start in Massachusetts.
A Boston judge has once again told GE VERNOVA it cannot walk away from VINEYARD WIND.
To understand why GE VERNOVA wants out…
you have to look at the money.
VINEYARD WIND owes GE VERNOVA three hundred and sixty million dollars
on a one-point-two-billion-dollar turbine supply contract.
VINEYARD WIND is withholding that payment.
GE VERNOVA says it has the contractual right to walk when it is not paid.
In February, they sent VINEYARD WIND a termination notice.
VINEYARD WIND sued.
In April, Judge PETER KRUPP issued an injunction ordering GE to stay.
GE VERNOVA came back and asked the judge to reconsider.
Vernova pointed to statements from state officials and VINEYARD WIND’s own parent company describing the eight-hundred-and-six-megawatt project as essentially complete.
If the project is done, GE argued, there is no harm in letting us leave.
Judge KRUPP did not buy it.
Here is why this matters so much to the Commonwealth of Massachusetts.
VINEYARD WIND is the largest offshore wind project in New England.
It is owned jointly by Spain’s IBERDROLA
and Denmark’s COPENHAGEN INFRASTRUCTURE PARTNERS.
It began initial operations just this past February…
after the developer won a separate court fight to keep federal construction permits intact.
Sixty-two turbines.
A four-point-five-billion-dollar investment.
The anchor project for offshore wind in the entire region.
The judge found that GE VERNOVA’s proprietary expertise
is still needed to bring those turbines to full operational capacity.
Pull GE’s mor