GE Vernova Q2 Results, Massive Iberdrola Share Sale Podcast By cover art

GE Vernova Q2 Results, Massive Iberdrola Share Sale

GE Vernova Q2 Results, Massive Iberdrola Share Sale

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The Uptime hosts review GE Vernova's Q2 financials, noting strong gas turbine orders and delays in onshore wind. They discuss PTC impacts on future turbine orders and Iberdrola's €5 billion share sale for power grid expansions. An update on Vineyard Wind highlights ongoing blade issues and legal complexities. The wind farm of the week is the Nobles Two Wind Farm in Minnesota. Register for the next SkySpecs Webinar! Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! You are listening to the Uptime Wind Energy Podcast brought to you by build turbines.com. Learn, train, and be a part of the Clean Energy Revolution. Visit build turbines.com today. Now, here's your host. Alan Hall, Joel Saxon, Phil Ro, and Rosemary Barnes. Allen Hall: Welcome back to the Uptime Wind Energy Podcast. I'm Alan Hall from the Queen City, Charlotte, North Carolina, and I got Phil Totaro in Santa Barbara, Cali, and Joel is back in the Lone Star state of Texas near Austin. And. Uh, Q2 results came out from GE Renova. In fact, they had a little webinar this morning to discuss it. Uh, a lot of different aspects to ge. Renova, as we all know, nuclear sort of high voltage, little tiny bit transmission, but, uh, wind of course gas turbines. So they are definitely setting the course for [00:01:00] a gas turbine world. And Phil, how, how far out are orders for their gas turbine products? Phil Totaro: The last I heard talking to somebody from GE who said it was 2031 at this point, um, although things can be accelerated depending on if you're willing to pay a bit of a premium, they can, uh, you know, move you up in the queue, so to speak. Um, but it's, uh, you know, it's a pretty, uh, far off thing. Um, and unfortunately. You know, it looks like GE hasn't announced a lot of new orders for onshore wind, but nobody has in the United States. Everybody was waiting in Q1 and Q2 to see what the outcome of the production tax credit, uh, changes were gonna be. Now that we have definitive, you know, legislation on that. Um, it's going to actually trigger a lot of safe harbor orders, uh, assuming that companies can actually deliver turbines. [00:02:00] Um, because in order to safe harbor, you actually have to physically receive and store, um, something equivalent to 5% of the CapEx cost of the project. So that has to happen now before. Uh, July, 2026. And because of that, uh, I think you're actually gonna see a lot of companies that had been holding off on placing their turbine supply orders. Uh, all of those are gonna start getting announced in Q3 and Q4, so it's gonna be like a monster quarter. Uh, that's gonna more than make up for any shortcomings from, uh, from this past quarter. Joel Saxum: This is a, I'm, I'm dreaming here. Uh, could you see that this thing is, this legislation, the way it sits right now, all of a sudden all these orders come in and people are buying turbines to safe harbor them. And it's just making that, that renewable industry economy just churn for a year. And then it comes down to it. And like that is taking notice of by the administration, taking notice of like, Hey, actually there is demand for this renewable [00:03:00] energy. There is a ton of jobs happening here. There's all kinds of people trucking, there's all kinds of people delivering. And then like, maybe we should relax and change these things because this, they're still moving forward. Could you see that changing? Phil Totaro: That is unlikely. But they're definitely, I mean, we know how politics works, and this isn't exclusive to any, you know,
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