GE Vernova (NYSE:GEV) agreed to pay a $10.5M settlement to the town of Nantucket, Massachusetts, after one of its offshore wind turbine blades broke apart and washed ashore last year, the Associated Press reported Friday.

This is a solid number to cover the community, and I’m very pleased with the results,” Select Board member Brooke Mohr said.

Days after the collapse in July 2024, GE Vernova said a manufacturing issue — insufficient bonding — was the reason for the failure.