Still unable to find equipment makers, New Jersey offshore wind project seeks 2nd delay [Yahoo! Finance Canada]
GE Vernova Inc. (GEV)
Company Research
Source: Yahoo! Finance Canada
Leading Light Wind had already received one pause on its project from the New Jersey Board of Public Utilities, which acknowledged the difficulty the project has had in finding a manufacturer for the blades that would spin to generate electricity. But that pause ended on Dec. 20. The day before, Leading Light asked the board for an additional stay, this time through May 20. It did not specify an inability to find a blade manufacturer as the reason for needing a second delay, but its most recent request said, “The offshore wind equipment market continues to experience significant price volatility and the company has not yet identified a solution to that volatility.” The company did not respond to inquiries on Monday and Tuesday about whether a blade manufacturer is at the heart of the second request. "This additional time will allow us to continue to navigate ongoing market shifts and supply chain challenges, as we work to advance development of this important project for New
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