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GE Vernova ( GEV ) reports unrelated turbine blade failures

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Latest blade accident blamed on strong winds during storm

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Three blade accidents in 4 months raise concerns for GE

Vernova ( GEV )

(Adds details on storm damage, analyst comment, share activity

throughout; adds bullet headlines)

Aug 30 (Reuters) - Energy equipment maker GE Vernova ( GEV )

on Friday said recent turbine blade failures at two

offshore wind farms in the United States and the United Kingdom

are unrelated and blamed the latest mishap on strong winds.

The statement comes as the company has been grappling with

fallout from three separate blade accidents in four months at

two wind farms that are still under construction. GE Vernova ( GEV )

shares were up 3% following the announcement.

The most recent occurred on Aug. 22 at the Dogger Bank wind

farm off the coast of Yorkshire in the North Sea, a little over

a month after a blade fell apart at the Vineyard Wind project

off the coast of Massachusetts and sent debris onto nearby

beaches. A blade at Dogger Bank was also damaged in May during

installation.

The Vineyard Wind blade damage was blamed on a manufacturing

flaw, raising concerns about a more widespread issue.

The failure this month occurred when the turbine rotor was

locked in place and the yaw system, which orients the rotor

towards the wind, was disabled, the company said, leaving it

vulnerable during a large storm. The turbine was in the process

of being commissioned.

GE Vernova ( GEV ) said it was taking corrective actions to

eliminate risks during such events.

"We continue to investigate the recent offshore wind events

involving our blades and are taking every necessary step with

customers and authorities to safely move forward with the

installation of the Dogger Bank and Vineyard Wind farms," GE

Vernova ( GEV ) said in a statement. "Our current analyses indicate that

the causes of the recent blade events are unrelated."

Two analysts, Chris Dendrinos of RBC Capital Markets and

Graham Price of Raymond James, said the news was positive for GE

Vernova ( GEV ) because it did not point to a broader manufacturing

problem.

"It is unfortunate especially given the concerns and

tensions stemming from the blade failure at Vineyard, but this

appears to be an isolated event and a risk the company has to

deal with due to unpredictable operating conditions in the North

Sea," Dendrinos said in an email.

Dogger Bank is a partnership between Britain's SSE

Renewables and Norwegian companies Equinor ( EQNR ) and

Vargronn.

Vineyard Wind is a joint venture between Avangrid ( AGR ),

the U.S. arm of Spain's Iberdrola, and Denmark's

Copenhagen Infrastructure Partners.

GE Vernova ( GEV ) shares were up $5.66, or 3%, at $197.02 in

afternoon trading on the New York Stock Exchange.