GE Vernova to close wind turbine blades plant in Brazil as demand falls
Adds context in paragraphs 3-6
SAO PAULO, Feb 11 (Reuters) - GE Vernova's GEV.N LM Wind Power will close its wind turbine blades plant in the Brazilian city of Suape due to a drop in demand in the Latin American market, the company spokesperson said on Tuesday.
The move, which is set to affect about 1,000 jobs, highlights the challenges faced by the wind power sector in Brazil in recent years due to oversupply and increased competition with solar power projects.
GE GE.N announced in 2022 it would suspend the production of new wind turbines in Brazil. The following year, Siemens Gamesa also halted its wind turbine factory in Bahia state.
Installation of new wind farms fell by more than 30% in 2024 in Brazil to 3.3 gigawatts, according to industry group ABEEolica, which expects the unfavorable scenario to persist until 2026.
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