Press Release
National Center for Public Policy Research Free Enterprise Project (FEP)
GE Vernova Shareholders Demand Answers as Wind Power Loses Steam
Washington, D.C. — At this week’s annual meeting of GE Vernova shareholders, the General Electric energy spin-off will face harsh criticism about its sustainability goals from activist investors with the National Center for Public Policy Research’s Free Enterprise Project (FEP).
Proposal 4 (“Sustainability ROI Audit”) notes that many of the company’s “major sustainability goals have been adopted or maintained without the type of traditional financial analysis—net-present value (NPV) or return-on-investment (ROI)—that would typically guide corporate decisionmaking for long-term capital allocation.”
While presenting Proposal 4, FEP Executive Director Steve Milloy will tell shareholders:
Our company is losing money on wind turbines. We will continue to lose money for the foreseeable future. There is, in fact, no future in wind power. The Green New Scam subsidies that were counted on to sustain bird-chopping, if not whale-killing, wind turbines are going away.
Wind turbines make no functional or economic sense for the AI revolution or the re-industrialization of America. Every wind turbine installed makes our country that much more dependent on Communist China and its monopoly on rare earth mineral processing.
We are asking management to come to its senses and abandon the climate hoax and all its baggage – like junk wind technology, subsidies from taxpayers and inflation-causing higher electricity prices.
There is no honest profit in wind turbines and, right now, there is not even dishonest profit in wind turbines. There are only losses.
