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.

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

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