GE Vernova Taking $700 Million Charge as Blade Problem Spreads

GE Vernova Inc.is taking a $700 million charge after discovering that a flaw in its offshore wind turbines goes beyond a single blade.

The company announced Wednesday that it’s found problems in multiple blades it manufactured, in addition to the blade that fell apart at a wind farm under construction in Massachusetts in a high profile accident in July.

The company and project developer Vineyard Wind will remove and replace some blades and strengthen others at the offshore project south of Nantucket. The charge comes from lost contracts after the incident, and the disclosure of problems with additional ...