The US government’s offshore wind construction halt has impacted GE Vernova’s financials for Q4 2025, potentially worsening if delays continue at the Vineyard Wind 1 site off Massachusetts.
GE Vernova, a US wind turbine manufacturer, announced on January 28 that the stop-work order issued on December 22, 2025, led to additional costs for the Vineyard Wind project, affecting Q4 accruals.
During an earnings call, GE Vernova’s CFO, Ken Parks, reported EBITDA losses of USD 225 million (approximately EUR 189 million) in its Wind business unit for Q4, lower than Q4 2024, primarily due to increased offshore contract losses following the order halting all US offshore wind projects.
For 2025, Wind unit losses exceeded expectations by USD 200 million (approx. EUR 168 million), driven by the December 22 government-imposed halt.
“Until then, the team was on track to meet these expectations as they worked towards completing the Vineyard Wind project in early January. The order introduced a potential 90-day delay, resulting in accruals of estimated contract losses for extended installation work,” stated Ken Parks.
“The project involves 62 turbines, and we have made significant progress, with only ten turbines needing blades and one turbine left to be installed at the time of the order. While the order is active, we can’t proceed with the project. The associated costs are excused under a force majeure declaration due to government action.”
Parks added that if work resumes soon after Vineyard Wind receives an injunction against the stop-work order, turbine installation could finish by the end of March.
“By March’s end, we’ll lose access to the vessel needed to complete turbine installation. Failure to install the remaining 11 turbines could reduce 2026 Wind revenue by approximately $250 million due to billing constraints. However, our contract loss accruals and protections from the stop-work order’s incremental costs mean significant additional EBITDA impacts for the Vineyard Wind project are not anticipated.” said GE Vernova’s CFO.
Vineyard Wind, a joint venture between Avangrid and Copenhagen Infrastructure Partners (CIP), also highlighted the completion risk due to construction suspension in its January 15 legal challenge. The developer said the 806 MW wind farm was 95% complete and slated for full construction by March 31, adhering to its current schedule and chartered installation vessel.
The ten turbines needing blade replacements are part of the revised Construction and Operations Plan (COP) for Vineyard Wind 1, approved by the US Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) in January 2025.
Blade replacements result from a root cause analysis into the blade failure that occurred in July 2024, attributed to a manufacturing defect. This prompted GE Vernova to begin replacing blades on 22 turbines at Vineyard Wind 1, manufactured at its Canadian plant.
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