GE Vernova Pays Nantucket $10.5 Million for Busted Blade

(Bloomberg) —

GE Vernova Inc. will pay $10.5 million to the town of Nantucket, Massachusetts, after one of its offshore wind turbine blades broke into pieces and washed ashore last year.

The incident sparked outrage in the wealthy island community, where residents criticized the temporary beach closure and damage to its otherwise pristine coast. The busted blade served as a visual setback for an industry already grappling with high interest rates, supply chain problems and mounting hostility from the Trump administration. 

The money will be used to create a fund to compensate local businesses for cleanup costs, forgone rental income and other losses. “Offshore wind may bring benefits, but it also carries risks,” Nantucket Select Board Chair Brooke Mohr said in a statement.

GE Vernova, for its part, is “pleased to have reached a final settlement agreement with the Town of Nantucket to provide compensation for any impacted local businesses,” a company representative said in an email.

Nantucket and those who opted into the settlement agreed to release the company and its development partner Vineyard Wind LLC from any future claims related to the incident, according to the terms. The deal, however, does not protect the companies from any future lawsuits if other wind turbine problems occur. 

Vineyard Wind did not sign the agreement, but in an emailed statement called it “fair and conclusive.” The company is a joint venture between Avangrid Inc. and Copenhagen Infrastructure Partners P/S.

Shares in GE Vernova, the maker of power generation equipment, have risen more than 200% since last July, shrugging off any fallout from the high-profile incident. The company has surged on unrelenting demand for its gas turbines, driven in large part by the energy needs of AI data centers. 

© 2025 Bloomberg L.P.

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