GE Vernova has reported that revenues in its wind division decreased by 21% during the second quarter of 2024 to $2.1bn.
This was on the back of lower onshore wind deliveries that were partially offset by offshore wind backlog execution, it said.
The company recorded an EBITDA loss in the segment of $117m, improving on the $259m loss a year earlier.
It said the wind unit is expected to be “approaching profitability” by the end of the year in a forecast update.
Meanwhile, the three-month orderbook fell 44% year-on-year to $2.2bn, primarily due to a large offshore wind order in the second quarter of 2023 that was subsequently cancelled, the company said.
Onshore wind orders “decreased slightly”, mainly in North America “where customers are navigating interconnection queues and higher interest rates”.
Wind turbine orders totalling 1.8GW were secured during the period, GE Vernova said, including for repowering.