Shares of Orsted plummeted 17% to a record low after the U.S. government ordered a halt to the nearly completed Revolution Wind Project off Rhode Island, raising concerns about the company's ongoing capital raising plans and potential financial impacts. The company plans to comply with the order and is exploring options to resolve the issue, but the situation has increased uncertainty about its future projects and funding strategies.
GE Vernova's Onshore Wind business has announced a record order for 674 3.6-1541 wind turbines, providing 2.4 GW of power at Pattern Energy's SunZia Wind project in New Mexico, expected to be the largest wind project in the US. This collaboration reinforces GE Vernova's commitment to revitalizing American manufacturing and supporting the energy transition. The project, expected to be the largest in the Western Hemisphere, will bring GE Vernova's installed base with Pattern Energy to approximately 4.3 GW upon completion, and the turbines are designed to deliver high efficiency and reliability.
