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Allen, Rosemary, Yolanda, and Matthew discuss highlights from Blades USA including the carbon blade debate. Plus TPI Composites’ bankruptcy sale hits major obstacles as partners dispute over $100M in claims. And Europe’s offshore and onshore wind developers clash over state aid, with WindEurope’s new CEO urging unity. Sign up now for Uptime Tech News, our weekly newsletter on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on YouTube, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary’s “Engineering with Rosie” YouTube channel here. Have a question we can answer on the show? Email us! [00:00:00] The Uptime Wind Energy Podcast brought to you by Strike Tape, protecting thousands of wind turbines from lightning damage worldwide. Visit strike tape.com. And now your hosts. Allen Hall 2025: Welcome to the Uptime Wind Energy Podcast. I’m your host Alan Hall, and I’m here with Yolanda Padron, Rosemary Barnes and Matthew Stead. Yolanda and Matthew have just wrapped up a couple of days at the Blade USA forum in Austin, Texas. Maybe we should start there. Thoughts on the forum this year? Things that were highlights? Matthew Stead: Yeah. Lightning Root de bond. One positive was that, um, there are a couple of startups there, so, you know, kudos to them for, you know, making the investment. There was a. There was a startup around, you know, data analytics and, you know, bringing machine learning in. And then there was also another startup looking at recycling. [00:01:00] Um, really trying to get that, that food chain through of, um, you know, grinding and then turning into some sort of valuable product. Um, yeah. However, I think someone also from EPRI said that, you know, at the moment, you know, the recycling path is, you know, eight times more expensive than the, um, the landfill path. There was a lot of carbon discussion actually. So, and, um, yeah, a lot of discussion about repairs, a lot of discussion about testing, uh, a lot of discussion about, you know, how maybe a carbon blade can last 40 years. Um, so a lot of discussion about lifetime extensions around carbon. Um, but, but, but, but, you know, really, really hard to repair. Allen Hall 2025: That goes back to the comments Rosemary and Morton Hanberg made about carbon blades. Should we be making. Carbon blades are not. And I think Morton’s opinion, and maybe Rosemary’s, I don’t wanna speak for her, was carbon blades are okay, but they are really difficult to repair. Almost impossible to repair. And is it [00:02:00] worth even building them? Rosemary Barnes: I think if you consider the blade in isolation, then it probably is adding more headaches than it’s worth. But carbon fiber is a bit of an enabler for improvements across the whole system of a, a wind turbine. ’cause when you take, like you can take a lot of weight out of a blade by using carbon fiber. I mean, it’s never been cheaper to make a blade with carbon fiber than an equivalent blade with glass. You do, you buy the more expensive carbon fiber blade because it’s lighter, a like, a lot lighter, and then you can take, um, weight. It, it reduces the requirements for basically every other component in the wind turbine, but especially stuff like the pitch bearings. Um, so you solve a lot of other problems, but you create blade problems. So. I think if you ask some of the only works on maintaining blades, then you’re gonna be like, why would you make a carbon fiber blade? It is so much headache. Um, but that’s not the reason why they were ever made in the first place. [00:03:00] So you’d need to talk to, you know, somebody on, uh, I dunno, front end engineering. Someone from the sales team about why it is that they are going with a more expensive carbon fiber blade. Even acknowledging that they probably underestimate how many problems there are with o and m with, uh, carbon fiber blades. But even so, like they’re already aware that there are trade offs. Um, and yeah, there’s non blade reasons for, for taking, taking that pain. Allen Hall 2025: Are there other fibers that could be substituted besides carbon? There, I, I know fiberglass. A, a good, relatively strong fiber and carbon obviously is much stronger. But are there things in the middle that could be substituted that are non-conductive? Rosemary Barnes: Uh, y yeah, there are, but carbon fibers, it’s not just strong. It’s really stiff. And that’s what its benefit is. Um, like there’s Kevlar but it’s not very stiff. So you would, we would make a really heavy blade if you used Kevlar. It would be probably bulletproof though. So I guess that would be a plus. I, I haven’t looked into it recently, but nothing is [00:04:00] at the, um, like got the performance specs and the cost specs that you would need to, um, make it replace carbon fiber. Matthew Stead: So one thing that I picked up I thought was pretty, uh, interesting was that by having a stronger, you know, carbon protrusion, you know, the, you know, the backbone of the blade, um, it took a little bit of pressure off the skin. And so therefore, um, you know, the life, life of the blade, um, and the ability to keep running it ’cause the skin is not so critical. Those seem to be a real, a real plus as well. Rosemary Barnes: I don’t know, people talk about this in like absolutes, but everything is just a con continuum, right? Like you can make an all glass blade that would last a thousand years if you really wanted to. You just, you know, you just have to make it very, very strong. ’cause it’s, you know, it’s all based on fatigue lifetime. And the smaller that your, um, strain on every component in the blade is, then the less, um, the less fatigue damage is gonna accumulate. Making it a little bit stiffer will actually increase the lifetime by [00:05:00] a a lot. I think the main benefit to protrusions is just that you avoid all of the um, or you avoid a lot of the possibilities for manufacturing defects. It’s easy to control the manufacture ’cause carbon fiber, like much more so than glass fiber. It’s so, um, it’s so dependent on the fibers being perfectly straight. If you have a little wrinkle, like a little wrinkle is bad in glass fiber, but it’s like really bad in carbon fiber. So protrusions mean that you won’t get wrinkles. Uh, and you can, you know, control the manufacturing process a lot better, but they are barely repairable, right? So that’s the trade off. You can do some small repairs, but you’re not gonna be just. Um, if you’ve got a, a, a full thickness crack or something, it’s, you know, it’s gonna be game over. You’re not gonna be building that up again. Allen Hall 2025: Delamination and bottomline failures and blades are difficult problems to [00:06:00] detect early. These hidden issues can cost you millions in repairs and lost energy production. C-I-C-N-D-T are specialists to detect these critical flaws before they become expensive burdens. Their non-destructive test technology penetrates deep to blade materials to find voids and cracks. Traditional inspections, completely. Miss C-I-C-N-D-T Maps. Every critical defect delivers actionable reports and provides support to get your blades. Back in service, so visit cic ndt.com because catching blade problems early Yolanda Padron: will save you millions. Allen Hall 2025: Well keep going on the, the subject of blades. Imagine if you were selling your house and you told the bank you owe nothing on it. Then the bank shows up with a bill for over a hundred million dollars. That is essentially what’s happening right now in the TPI composites bankruptcy. Uh, the wind blade manufacturer canceled its [00:07:00] February 17th asset auction after only one bidder came forward. A firm called ECP five LLC, which is, uh, part of Energy Capital Partners, which is based in New Jersey. Uh, but before TPI. Can hand over the keys. It has to settle up with its business partners. TPI told the court many of those partners were owed little or nothing. Uh, the partners check their books. Strongly disagree. Now, the judge has a mountain of competing claims to sort through before the sale can close. And everyone, I mean, the, the claims are big. Uh, there are several large names listed, and if you go through the filings, uh, Siemens C Mesa is probably the largest one, and it, it claims TPI owes about 84 million plus an unpaid inspection, repair, and replacement costs. Plus under 22 million [00:08:00]under apparent guarantee. Others include Aurora Energy Services stating it is owned about $5 million, uh, for post-bankruptcy services, plus 38,000, uh, for before the filing of bankruptcy. The landlord up in Iowa for the TPI facility there is objecting because they’re owed some rent. Some other ones include, uh. Oracle, uh, which is, uh, has a lot of software licenses that TPI currently has, and they’re saying those licenses will not swap over to the new owner. So there, this is a series of these filings going on at the minute, and they’re pushing back the closing of the, uh, sale hearing until March 9th. So they got about another two weeks as we record right now. This is a big deal and, and although I have seen almost nothing about it in the press. Because it’s hard. One, it’s hard to find, and two, it’s really [00:09:00] difficult to sort through. Uh, but it is a major milestone for TPI that they’re gonna be able to sell the, or at least transfer ownership to, uh, energy capital partners. And the none of the buyers investors had bought part of the facilities. But GE Renova or Siemens cesa, for that matter, are not involved, at least at the top level. Which is really to, in my opinion, odd. I thought GE Renova would’ve been involved, at least at some level. They have been supporting TPI through this process. But in terms of going forward, doesn’t look like too much is going on with Renova or Siemens Ga Mesa in, in terms of the operations of these facilities. Thoughts. Rosemary Barnes: Yeah, I agree. It’s strange that they wouldn’t have taken that opportunity and that makes me wonder what I don’t know that, you know, ’cause obviously it’s not a strange decision to the people who have made it so. They’ve got more information, a lot more information than us. So what is it that made it unappealing to them? That’s, um, that’s my question. [00:10:00] Yolanda Padron: What did TP, I think was gonna happen with all of that money that they owe everyone? Allen Hall 2025: Well, it’s a bankruptcy hearing. Obviously they like to wipe that debt free and so would Energy Capital partners. They don’t wanna pay the a hundred million plus of whatever, uh, the court would ict, but. You just like to get the assets. If you can do it, that’s your cheapest option if you’re Energy Capital partners. But do you see Energy Capital Partners running the facilities? There’s a lot of organization within TPI that manages those facilities and controls the operation. From the quality side engineering side, there’s, there’s a lot of pieces to TPI here. Do you think they’re just gonna pick it up and run, run the company as it stands today? Or, or, Rosemary Barnes: oh my goodness. I would be so nervous to, um, buy blades, uh, from them in that situation. I mean, we’ve seen so many examples in the last few years of decisions being made by senior management that have really compromised the quality at the end of the day. Like in theory, yes, the factory, you know, all the processes are in place to do things. Um, to do things [00:11:00] right, but you know, as soon as they get the next new project, which they’re doing constantly, right? It’s not like they just make a blade and they just make it over and over again. They make many different kinds of blades. There’s decisions to be made and you’re trying to get the price right and the quality right. And then, you know, given that we know that TPI was not profitable the way they were doing it before, they’re gonna have to spend less money. Then somebody who isn’t from the industry is making those calls about where to save it. It just seems like totally implausible to me. Matthew Stead: Can I just add though, you know, TPI was mentioned multiple times at, um, at Blades, USA, and so, you know, a lot of people are relying on them or have relied on them and so forth. And so maybe this is a strategy about supporting the industry into the future. Like I think Alan, you, you said that they’re involved in, um, this investment business has other wind assets, so maybe it’s just like. Securing supply chain and, which I mean, that’s a pretty logical approach, isn’t it? Allen Hall 2025: Oh, it would be. Uh, they’re about 50% owners of Ted’s US onshore fleet and a number. There are [00:12:00] other projects they’re involved in a number of renewable projects. Uh, so it would make sense for them to try to keep the supply chain going. But the largest purchaser of GB GE turbines that I know of is NextEra. So you would think NextEra would want to step into the mix too and at least in all the court filings, I haven’t seen much from NextEra or nothing from them at all. It if Osted US is wanting to keep their supply chain and Energy Capital partners wanted to keep the supply chain going, that would make a lot of sense to me. However, I just don’t know if they have the infrastructure to manage it. As Rosemary has described on numerous occasions running LM wind power is not easy. There’s just a lot of moving pieces, supply chain problems. You’ve got people problems, you have quality problems, you have repair problems, warranty issues. It’s a lot to that business. It isn’t like you’re stamping out widgets. You, you have a responsibility to that product after it goes out into [00:13:00] service. So if you have problems out in service, you’re, you’re kind of on the hook for all those warranty claims. It’s complicated. Rosemary Barnes: You make it sound like I was running lm Yolanda Padron: Rosie runs the world. Rosemary Barnes: I just wanna make it clear I was not running lm Allen Hall 2025: Not yet. Rosie. There’s still time. Rosemary Barnes: I was ru running one very tiny, tiny corner of it. Yolanda Padron: I’d almost be curious ’cause like since ECP is so much into risk management and just, just in general, they have so many things that they are like part owners in, but they don’t necessarily manage the day to day hands on. Uh. I’d almost be curious to see if maybe they take a page out of Rosie’s book and try to make one thing. Well, Matthew Stead: mm, that’d be novel, wouldn’t it? Rosemary Barnes: It has actually been tried before. Um, you know, it’s, it’s uh, not something that has escaped the notice of blade engineers, uh, that if you make one thing, you can do it right. And wind turbine blades are a pretty similar there. No, you know, like great [00:14:00] differentiator between. How well performing the blades are from one company to another. I know at, at least at lm, they did have a blade that they designed, and their plan was to sell just heaps and heaps of those to multiple different manufacturers and just no one wanted it. Um, so it just quietly died. Um, so yeah, the, the concept is good. I think it’s. A little bit harder to pull off than you would hope. There are also some Chinese companies that are kind of selling just parts, generic parts. And so if you wanted to make your own wind turbine, um, company, if you wanted to be a wind energy o and m Yolanda, you could just buy an assortment of parts from Chinese manufacturers and put a. Yolanda Wind energy sticker on it and um, and, and, and you could be an an OEM. So it is, it, it, it is possible. I haven’t seen any of these out in the wild. Um, I have [00:15:00] heard of, you know, people considering it for, you know, certain aspects of certain types of projects. So it kind of exists in a way. Matthew Stead: But the financial aspect, I mean, that’s accounting 1 0 1, I mean. You gotta know your assets and to owe people a hundred million dollars, that’s absolutely shocking. Really? Allen Hall 2025: They owed a lot more than that before the bankruptcy. It is a lot of money. Matthew Stead: How do you miss that? Allen Hall 2025: Well, I don’t think they missed it. I just think the warranty claims and some of the repair that was going on and the, the, it sounded like price discounting was happening to some of the OEMs just caught up to ’em. But at the end of the day, I, I, I guess the question is. Does TPI as an entity remain? Obviously the Vestas portion will, because Vestas is gonna make them Vestas factories in a sense, and, uh, integrate as part of their overall operations. But Renova is not, Siemens is not interested in doing it, at least as we speak. No one’s [00:16:00] making any noise over at Nordex. It, it does leave these assets questionable as to what the real value is. We haven’t heard how much, uh, ECP has paid for them yet. The Vestas factories that were purchased, I think the, the two TPI factories in Mexico, I think Vestas paid about $10 million for each factory, which is a really inexpensive price to pay for new factories because Vestus had talked about at one point a year or two ago, about standing up a new factory saying it would cost him roughly a half a billion dollars to do. So buying a, that same asset for $10 million is a discount, a deep, deep discount, which maybe Vestas figures, Hey, it’s 20 million bucks, plus they got the India operations. Uh, it’s not that much money. If it all goes sour, it’s not that much money and we’re okay. Whereas Ver Nova decided to not to participate in that. As wind energy professionals, staying informed is crucial, and let’s face it difficult. That’s why [00:17:00] the Uptime podcast recommends PES Wind Magazine. PES Wind offers a diverse range of in-depth articles and expert insights that dive into the most pressing issues facing our energy future. Whether you’re an industry veteran or new to wind, PES Wind has the high quality content you need. Don’t miss out. Visit p ps wind.com. Today, over in Denmark, a fight has been brewing between offshore and onshore wind developers and. Sted once State Aid brought back for offshore wind auctions, onshore developers say that would tilt the playing field against them. Well, some have even walked out on their own trade group, uh, over it. Now the new CEO of Wind Europe, Tina Van Stratton, uh, is stepping in the middle of that discussion with a simple message. We need both. Don’t let offshore and onshore wind divide us. Nearly 90% of Europe’s installed wind capacity sits currently on land, and [00:18:00] she says that is not going to change anytime soon. Uh, so there, there is a big dispute about this right there. There does seem to be a, a amount of money being poured into offshore wind and requests of governments to support offshore wind at the same time. Onshore wind, which has been the primary growth market for wind in Europe, is getting the cold shoulder. In a sense. How does this play out everyone? Is there a, a good solution to it or is the need for offshore wind so great that, that they have to ignore onshore wind development for a couple of years? Matthew Stead: I think we should just all be friends. So, I mean, really. Yeah, we need both and, um, I mean for the diversity and, you know, uh, I’ll leave all the technical topics to Rosie, but, um, um, really I think we need both. I mean, so what, it’d be crazy to, to drop the onshore, onshore industry. Yolanda Padron: Yeah. I mean, it makes sense that, or said, especially Orid Europe doesn’t have any onshore anymore. Right. So it’s just [00:19:00]offshore. It would make sense that they really wanna push for help for themselves. And it’s, it’s great. It, it’s, it’s great to help, but I, I agree with Matt. Allen Hall 2025: Well, the Northern Europe and Scandinavian countries are talking about 100 gigawatts in the water by what, 2050? Something of that sort. So that’s a lot of energy in the water. In order to do that, you have to devote a number of resources to it, which. Will mean onshore wind is not gonna get the support it probably deserves, even though it has a proven track record. Rosemary Barnes: I just think it, it’s really interesting because I guess wind is, um, a very Europe. LED industry. Um, and so yeah, in Europe, e everything big and exciting is in offshore and the volume is in offshore. Um, I feel like that’s kind of filtered through to other regions though, because I mean, in Australia we don’t even have any offshore wind yet. We are probably getting some, but you go to any wind energy event, it’s gonna be. [00:20:00] More than 50% offshore wind and sometimes like 90% offshore wind, um, focused, which is, I think crazy when onshore is, is exists and has plenty of problems that need to be solved, and we need to be building more, a lot faster. I, I do actually wish that. If we could spend as much of the, you know, like some of the effort and the political effort that’s going into paving the way for offshore wind, I think would be much better spent on solving the problems. Um, the obstacles stopping us from rolling out onshore wind faster. Because we’re not on track in Australia to meet our renewable energy targets if we can’t get that under control. And then in the US yes you have some offshore wind, but it is not a growth industry at the moment or it’s not very appealing at the moment, at least. Right. So, and I dunno how much you talk about it there, but I do hear a lot of, like a whole lot of talk about offshore compared to how important it is for regions outside of Europe. Yolanda Padron: I think it’s important too to [00:21:00] note that. When you have a lot of offshore wind in your fleet, like you can sometimes test out products onshore that maybe they’re, of course not the exact same conditions, but you can test out products to a degree onshore. And I’ve seen, you know, owner operators that have to go across continents just to test that product because it’s cheaper to do that onshore than to do it offshore in your home site, in your backyard. So I mean that that would really benefit from an RD standpoint. It would really benefit everyone. If Allen Hall 2025: they gave it up attention Yolanda Padron: to onshore. Rosemary Barnes: When I was at lm, one of my, well my key team member who was an electrical engineer, he had, um, done a bunch of work for a system that was only implemented on an offshore wind farm. And it sucked up so much time when stuff started going wrong with that, like even small things. And he was the only one [00:22:00] that could do it. You know, you go out, if you’ve got a five minute job to do, to get, you know, like turn something off and on again off. Reconnect something that’s a whole day of work, right? Like you, and, and not like a normal day, but like a 12 hour day, you’re gonna go out in the morning, they, you know, they go around in a boat or whatever and drop people off and they don’t come get you when you’re done 10 minutes later, you know, they come get you at the end of the day when they’re picking everyone up again. So, um, it, it was, it was incredibly challenging. I mean, for him personally and the team. Um, and I always recommend to, or, you know, sometimes I’m advising, um, companies that have offshore wind, um, technologies. And I’m always advising anything that you can test on shore, do it and get creative about it as well. ’cause you might think that you can’t, you certainly can’t get all the way there without testing in your real operating environment. But any problem that could happen onshore that you, um, learn about when it’s onshore is gonna cost you probably like, you know, one 10th as much [00:23:00] to fix. Um. So, and, and the time as well. So, yeah, I, I think that you’re right that we should be actually considering onshore as an opportunity for, um, improving offshore technology as well. Allen Hall 2025: Can we talk about, uh, data centers for a minute? Just off the top of mind, I’ve been listening to a number of podcasts over the last month or two talking about powering AI data centers and how much coal or natural gas. It’s gonna be needed to provide the stable, reliable power that these data centers supposedly need. In the meantime, there’s like this industry being built, uh, and you see the, the purchases of gas turbines going out to like, what, 2032? I think it’s what Renova is talking about now is when you could actually get in line for a gas turbine. Other manufacturers or gas turbines are basically saying the same thing in the meantime. [00:24:00] Elon Musk and SpaceX are talking about putting AI data centers up in space where you don’t have any regulatory issues. You don’t have to burn coal or natural gas or any of these things. So the, the ground-based AI data centers appear to be locked into making these really expensive buildings and assets and putting generation and transmission and, and this infrastructure together, which will cost them. Hundreds of millions at a minimum, likely tens of billions of dollars to do, and that’s just in the United States. Meanwhile, SpaceX is really on a pathway of doing this up in the sky for probably a fraction of the cost. Is there a break point here? Because it does seem like the, the natural gas, coal, oil, petroleum industry and the on ground build, the building, people are ignoring that. SpaceX has a [00:25:00] capability of doing this, and if Musk decides to do it, and SpaceX decides to do it, that all those gas turbine orders, all that infrastructure, all the gas pipeline, all the drilling that would have to happen would just go immediately. Poof. Gone. Rosemary Barnes: I don’t know about immediately because I mean, we’re not at the point yet where you can just launch a data center into space. So there is a bit of a, a, a transition period. Um, I. I also think that it’s overblown that, you know, I think you might have even fallen into the trap also, where you’re like, oh, when data centers need more energy, so therefore it has to be coal or gas or nuclear. Allen Hall 2025: Nope, I agree with you. Rosemary Barnes: Those things aren’t quick to build either. If you truly wanted to do it quickly, you’d be putting in, um, you know, heaps of solar panels and batteries and, and you know, wind turbines where that made sense. But that said, I, I do agree that, uh, like I, I don’t think space-based data centers is farfetched at all. I, I guess the biggest [00:26:00] challenges, uh, are, um, the cooling and heating requirements space has very large temperature fluctuations. So I guess you’re gonna need to design that carefully. I don’t think it’s insurmountable. Um, and then the next thing is a cost of launch, which I’m sure you’re about to tell me how. Dramatically the cost of launch is dropping. Um, you know, like, it, it’s got, it’s got a very good learning curve. The space launches, which is basically, you know, SpaceX is probably the main reason why that is just dropping and dropping and dropping. So I don’t think that it’s unrealistic at all. I don’t know the timeframe. You would know more, Alan, you work in, um, aerospace. I just. You know, um, follow it for general interest. Matthew Stead: I reckon it’s stupid. He’s really stupid on a number of grounds. So first of all, you know, why do that when. You just, I can’t see how it can ever be more cost effective and you know, [00:27:00] I, you know, you should really, should be putting that effort into things like, you know, better healthcare and so forth. I mean, what a waste of resources. But why? I mean, why, why? Allen Hall 2025: Because it’s a lot less expensive and it’s faster. Matthew Stead: You’d do it in the ocean before that, wouldn’t you? Rosemary Barnes: No, but the ocean still has, like how do you power it? You, you get the 24 7 solar power in space. That’s what you. That’s what you get, um, which you can’t get on Earth Matthew Stead: or you put it next to a wind farm and you, you, and you make the load go up and down depending on the wind. I mean, seriously, there’s so many other ways of doing it. You put it next to a wind and solar. Rosemary Barnes: I agree with you, Matt, that I think that the, the bulk of the solutions with data centers is gonna come from one demand not being what people think it is today. Like the numbers that get reported are just like the. Absolute best, best, best case scenario and then multiplied by three or four times because they’re looking at different options for locating each of the data centers they plan to make. So I think I wouldn’t be surprised if we end up with 10% of what people think that we’re gonna get. [00:28:00] Now, the first thing, secondly, people assume that it needs to be 24 7. Just, you know, like a hundred percent reliable power, and that’s. That’s simply, yeah, it’s not, not everything needs to be just, um, you know, done at, at the exact time that it’s requested. There’s heaps of things that can be shifted and uh, when the price differential is there, then people are naturally going to choose that. And in fact, there are already some companies offering different levels of reliability depend, you know, for different prices. And companies can choose which of their processes can be put on hold. Like a lot of the training stuff, you’re happy don’t. Need 99.999% reliability, you’re probably happy with 90% reliability. And so, you know, if it costs a whole lot less than you will, I, I agree with you, Matt, that that’s gonna take most of it. But I do still think that for the, like, super reliable, um, data centers, I, I bet that we see at least one. And even if it’s just because Elon Musk is the type to push something through, um, you know, [00:29:00] first and. Wait for the market to catch up later. Uh, maybe that will be the reason, but I, I honestly think it’s more than 50% likely that we see a data center in space in the next, in the next decade, Matthew Stead: it would make more sense to like drill a hole to the center of the earth and get the, the hot well cutting rock Rosemary Barnes: and or there’s also plenty of geothermal. You did thermal projects as well. Matthew Stead: Yeah, it’s just ridiculous. Rosemary Barnes: I think that we’ve had our first hot take from Matthew, so I don’t know some sort of sound effect to be added here. Claire. Uh, yeah, Allen Hall 2025: that wraps up another episode of the Uptime Wind Energy Podcast. If today’s discussion sparked any questions or ideas, we’d love to hear from you. Just reach out to us on LinkedIn and don’t forget to subscribe so you never miss an episode. And if you found value in today’s conversation, please give us a review. It really helps other wind energy professionals discover the show. For Rosa, Yolanda and [00:30:00] Matthew, I’m Alan Hall, and we’ll see you next week on the Uptime Wind Energy Podcast.
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A afirmação do dia é: Eu me conecto à docilidade da vida e exerço a compaixão. A meditação do Portal Alvorecer indicada para hoje é: Conexão ao Comando Esmeralda. O cristal de conexão do dia é: Esmeralda. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu construo em mim uma realidade empática, cooperativa e dentro da compaixão. A meditação do Portal Alvorecer indicada para hoje é: Águas curativas de Aruanda. O cristal de conexão do dia é: Apatita e água marinha. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu entro com leveza no meu novo caminho e abraço a mudança que é necessária A meditação do Portal Alvorecer indicada para hoje é: Abertura dos caminhos. O cristal de conexão do dia é: Serpetinita. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu expando a minha luz e acesso a minha intuição. A meditação do Portal Alvorecer indicada para hoje é: Equilíbrio da Kundalini. O cristal de conexão do dia é: Equilíbrio da Kundalini. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu sou uma pessoa formidável, perfeita, capaz, inteligente e maravilhosa. A meditação do Portal Alvorecer indicada para hoje é: Estado de presença e reconhecimento. O cristal de conexão do dia é: Quartzo rosa e lápis lazuli. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
Send us your feedback — we're listening“Psalm 91:14 — Jesus, Lift My Heart as Evening Nears and Fill My Weariness With Your Quiet Strength” Psalm 91:14 (NIV): “Because he loves Me… I will rescue him; I will protect him…” Romans 8:26 (NIV): “The Spirit helps us in our weakness…” Ao vivo de Londres, Inglaterra para Fortaleza (Brasil) • Braga (Portugal) • Cabinda (Angola) • Nampula (Moçambique) • Bogotá (Colômbia) Live from London, England to Fortaleza, Braga, Cabinda, Nampula, Bogotá fim de tarde • força suave • renovo interior • presença que sustenta late-day fatigue • gentle strength • inner renewal • sustaining presence Jesus, as the day begins to settle and the weight of many hours rests upon my shoulders, I come to You needing strength that is quiet but steady, gentle but real. Evening carries its own kind of tiredness — not just for the body, but for the heart. Your promise speaks to me now: “Porque ele Me ama, Eu o resgatarei.” These words remind me that love moves Your heart, and because I love You, I am not left alone in this weariness. Rescue me from the fatigue that presses deeply, and breathe Your renewing life into the places where I feel stretched thin. You tell me that the Spirit helps in weakness, that I do not carry today's burdens by myself. “O Espírito Santo ajuda na fraqueza.” Jesus, let that truth rest over me. Bring strength where my energy feels low, hope where I feel discouraged, and clarity where my thoughts are scattered. As the evening grows quieter, let Your presence become the gentle rhythm that steadies me from within. I ask You to heal the small wounds of the day — the words that unsettled me, the worries that lingered, the pressures I could not resolve. Bring Your “força suave” into my spirit and renew what has been worn down. “Renova meu coração neste fim de tarde.” Renew my heart in this late hour, and remind me that I am held, supported, and strengthened by Your unfailing love. Jesus, let this evening be a turning point, a moment where tiredness becomes trust, and weariness becomes worship. Guide me into the rest that restores, into the strength that lifts, and into the peace that carries me into tomorrow with new hope. evening prayer, força suave, Spirit helps in weakness, Psalm 91 renewal, Brazil devotion, gentle strength prayer, 6PM devotional momentevening prayer, Psalm 91, renewal, gentle strength, Brazil devotional, Portuguese prayer, Holy Spirit helpSupport the showFor more inspiring content, visit RBChristianRadio.net — your home for daily devotionals, global prayer, and biblical encouragement for every season of life. We invite you to connect with our dedicated prayer hub at DailyPrayer.uk — a place where believers from every nation unite in prayer around the clock. If you need prayer, or would like to leave a request, this is the place to come. Our mission is simple: to pray with you, to stand with you, and to keep the power of prayer at the centre of everyday life. Your support through DailyPrayer.uk helps us continue sharing the gospel and covering the nations in prayer. You can also discover our ministry services and life celebrations at LifeCelebrant.net — serving families with faith, dignity, and hope. If this devotional blesses you, please consider supporting our listener-funded mission by buying us a coffee through RBChristianRadio.net. Every prayer, every gift, and every share helps us keep broadcasting God's Word to the world.
A afirmação do dia é: Eu trago a leveza necessária que preciso para a minha mudança A meditação do Portal Alvorecer indicada para hoje é: Ativação dos Meridianos de Energia. O cristal de conexão do dia é: Crisopásio. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: A vida é leve, é um fluxo e eu sou feliz porque eu nasci para ser. A meditação do Portal Alvorecer indicada para hoje é: Liberação de medos. O cristal de conexão do dia é: Selenita. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
Robson Morelli repercute os principais assuntos do Esporte, diariamente, às 8h50, no Jornal Eldorado.See omnystudio.com/listener for privacy information.
Dia Mundial sobre o tema enfatiza declaração política de Doha, sobre erradicação da pobreza, garantia de pleno emprego e trabalho decente para todos; disparidades de gênero e desconfiança nas instituições fragilizam avanço de metas de inclusão.
A afirmação do dia é: Eu me liberto dos julgamentos e opiniões preconcebidas em minha psique. A meditação do Portal Alvorecer indicada para hoje é: Curandeira Interior. O cristal de conexão do dia é: Granada. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
Bom dia! Vamos para mais uma #MensagemDoDia (https://open.spotify.com/show/29PiZmu44AHH8f93syYSqH)A escritura de hoje está em Lucas 21:28, "...olhem para cima e levantem a cabeça, porque a sua redenção se aproxima."O Som das Arquibancadas CelestiaisVocê já sentiu como se estivesse correndo uma maratona sozinho, em uma estrada deserta, sem ninguém para te oferecer um copo de água ou um incentivo?A verdade é que a nossa caminhada de fé pode parecer solitária às vezes, mas a Bíblia revela uma realidade invisível e poderosa: você nunca está correndo sozinho.Hebreus 12 nos diz que existe uma "grande nuvem de testemunhas" ao nosso redor. Imagine que o céu possui arquibancadas monumentais e elas estão lotadas de pessoas que já venceram as suas próprias corridas e agora estão focadas na sua.Quando o desânimo bater e você pensar em parar, olhe para cima. Pela fé, tente ouvir o som que vem do alto. Não é um som de julgamento, é um som de celebração. São aqueles que vieram antes de nós — heróis que enfrentaram desertos, gigantes e prisões — gritando o seu nome!Eles estão dizendo: "Não pare agora! Nós sabemos que dói, nós sabemos que é difícil, mas nós chegamos lá e você também vai chegar. O mesmo Deus que nos sustentou é o Deus que segura a sua mão hoje!" Levante a cabeça. O seu esforço está sendo visto e a sua vitória está sendo aguardada com festa.Vamos fazer uma oraçãoPai, obrigado por me lembrar que o céu não está indiferente à minha luta. Obrigado pela torcida invisível que me impulsiona para a frente.Hoje, eu decido levantar a minha cabeça e sintonizar os meus ouvidos com a Tua voz e com o encorajamento que vem da Tua presença. Renova as minhas forças para que eu termine a minha corrida com alegria.Em nome de Jesus, Amém.
A afirmação do dia é: Eu com consciência me liberto dos meus padrões negativos e repetitivos. A meditação do Portal Alvorecer indicada para hoje é: Regeneração da saúde vital do corpo. O cristal de conexão do dia é: Quarto azul. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu acolho o convite da purificação e da libertação com muita serenidade. A meditação do Portal Alvorecer indicada para hoje é: Autoapometria Gabi Rubi. O cristal de conexão do dia é: Lepidolita e Pedra da Lua. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu tenho coragem e confiança para mudar aquilo que já não me serve maisA meditação do Portal Alvorecer indicada para hoje é: Conexão à força solar.O cristal de conexão do dia é: Pedra da lua e a opala cor-de-rosa.Links:Portal AlvorecerGabi Rubi StoreRubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Levarei com doçura a minha fase de transição.A meditação do Portal Alvorecer indicada para hoje é: ga.O cristal de conexão do dia é: lepidolita.Links:Portal AlvorecerGabi Rubi StoreRubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu me enxergo com mais leveza e prometo pegar mais leve comigo A meditação do Portal Alvorecer indicada para hoje é: Restauração do campo eletromagnético. O cristal de conexão do dia é: Cornalina. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
Simpósio de Doutrinas Bíblicas 2026 | A Vida do Profeta Elias - Renovação no Deserto
A afirmação do dia é: Me transporto hoje ao local dos meus sonhos e vivencio isso na minha realidadeA meditação do Portal Alvorecer indicada para hoje é: Ressintonização da autoconfiança e da espera sadia.O cristal de conexão do dia é: Quartzo Hematoide.Links:Portal AlvorecerGabi Rubi StoreRubi BoxJornada da Purificação e Renovação
O Banco de Brasília reduziu drasticamente seu orçamento de patrocínios para 2026 e a renovação com o Flamengo entrou em compasso de espera. O contrato atual vai até março, mas um novo modelo está sendo estudado, envolvendo o banco digital Nação BRB Fla.Entenda os números do corte, o impacto da crise financeira, o que pode mudar na camisa rubro-negra e quais são as alternativas do clube no mercado.QUER FALAR E INTERAGIR CONOSCO?: CONTATO I contato@serflamengo.com.br SITE I serflamengo.com.brTWITTER I @BlogSerFlamengoINSTAGRAM I @BlogSerFlamengo#Flamengo #NotíciasDoFlamengo #BRB
A afirmação do dia é: Eu me permito ser mais calma, criativa e me conecto mais à minha imaginação. A meditação do Portal Alvorecer indicada para hoje é: Ativação da vitalidade com mestre Sathya Sai Baba. O cristal de conexão do dia é: Pedra do Sol. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu busco me centrar e encontrar o ponto neutro das minhas emoções A meditação do Portal Alvorecer indicada para hoje é: Ponto Central do Ser. O cristal de conexão do dia é: Quartzo branco. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu me concentro em liberar os meus próprios caminhos A meditação do Portal Alvorecer indicada para hoje é: Limpeza espiritual rápida. O cristal de conexão do dia é: Sodalita. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
Ducentésima vigésima quinta mensagem da série de exposições ao longo de vários livros bíblicos em torno do tema das cidades. Perguntar-se pelas cidades no texto bíblico é mais do que simplesmente falar sobre política, leis e governo. Trata-se de recuperar uma chave de leitura teológica antiga que remonta ao bispo de Hipona, Agostinho que, em seu livro A Cidade de Deus, apresenta toda a humanidade dividida em duas grandes comunidades místicas: as cidades dos homens, que é governada pelo amor de si mesmo e o desprezo a Deus) e a Cidade de Deus (governada pelo amor a Deus e o desprezo de si mesmo). Nesse sentido, com essa série de buscamos construir uma teologia bíblica tendo como coluna vertebral o reinado de Deus, o restabelecimento do governo após a queda do ser humano no pecado e a esperança da nova existência vivida enquanto habitantes da Cidade Santa.
Ducentésima vigésima quarta mensagem da série de exposições ao longo de vários livros bíblicos em torno do tema das cidades. Perguntar-se pelas cidades no texto bíblico é mais do que simplesmente falar sobre política, leis e governo. Trata-se de recuperar uma chave de leitura teológica antiga que remonta ao bispo de Hipona, Agostinho que, em seu livro A Cidade de Deus, apresenta toda a humanidade dividida em duas grandes comunidades místicas: as cidades dos homens, que é governada pelo amor de si mesmo e o desprezo a Deus) e a Cidade de Deus (governada pelo amor a Deus e o desprezo de si mesmo). Nesse sentido, com essa série de buscamos construir uma teologia bíblica tendo como coluna vertebral o reinado de Deus, o restabelecimento do governo após a queda do ser humano no pecado e a esperança da nova existência vivida enquanto habitantes da Cidade Santa.
O melhor ativo é sempre a boa informação!Quer receber as informações do Morning Call diretamente no seu e-mail? Acesse: https://l.btgpactual.com/morning_call_spotify
A afirmação do dia é: Abro as portas do meu coração à vida, ao plano de luz sutil. A meditação do Portal Alvorecer indicada para hoje é: Conexão ao mentor espiritual. O cristal de conexão do dia é: Angelita. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu me nutro de leveza e do genuíno brincar de existir. A meditação do Portal Alvorecer indicada para hoje é: Chama Verde de Cura - Mestres de Telos. O cristal de conexão do dia é: Água Marinha. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
Acompanhe o fechamento de mercado com as principais notícias sobre a Bolsa de Valores, Ibovespa e o cenário econômico global. Veja a análise macro sobre os juros nos Estados Unidos e Japão, além do impacto das commodities e do petróleo nos ativos brasileiros.
A afirmação do dia é: Eu aprendo que hoje não devo depender de absolutamente ninguém nessa vida A meditação do Portal Alvorecer indicada para hoje é: Integridade do ser. O cristal de conexão do dia é: Quarto transparente. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu me liberto de tudo aquilo que me faz sentir culpa e estou me abrindo a me amar. A meditação do Portal Alvorecer indicada para hoje é: Fortalecimento e unicidade do Ser. O cristal de conexão do dia é: Morganita. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu mereço prosperidade e abundância e eu a recebo aqui e agora. A meditação do Portal Alvorecer indicada para hoje é: Encontro as Plêiades e aos portais internos do espírito . O cristal de conexão do dia é: Lápis Lazuli. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Eu encontro dentro de mim a sabedoria A meditação do Portal Alvorecer indicada para hoje é: Gratidão e bênção de ser feliz. O cristal de conexão do dia é: Serpetinita. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
A afirmação do dia é: Sei que preciso amadurecer o meu espírito A meditação do Portal Alvorecer indicada para hoje é: Materialização da força espiritual encarnada. O cristal de conexão do dia é: Selenita. Links: Portal Alvorecer Gabi Rubi Store Rubi BoxJornada da Purificação e Renovação
O melhor ativo é sempre a boa informação!Quer receber as informações do Morning Call diretamente no seu e-mail? Acesse: https://l.btgpactual.com/morning_call_spotify
Culto de Celebração 10h15
Culto de Celebração 19h15
O melhor ativo é sempre a boa informação!Quer receber as informações do Morning Call diretamente no seu e-mail? Acesse: https://l.btgpactual.com/morning_call_spotify
Confira nesta edição do JR 24 Horas: Um homem foi preso após manter três pessoas reféns em uma casa lotérica na região metropolitana de Natal (RN). Segundo a PM, Henrique da Silva Almeida, de 23 anos, invadiu o estabelecimento e tentou entrar na área dos caixas, mas não conseguiu. Irritado, ele usou um facão para render as vítimas, entre elas, uma idosa de 71 anos. A polícia foi acionada e chegou rapidamente ao local. Depois de uma negociação, o criminoso decidiu se entregar. As vítimas foram liberadas sem ferimentos. E ainda: Renovação automática da CNH já beneficiou mais de 300 mil motoristas em pouco mais de um mês.
Mais um Mercado no ar! Celso Ishigami e Fred Figueiroa trazem as mais novas atualizações nos elencos de Ceará, Fortaleza e Sport. Ouça agora ou quando quiser!
Rayan Lellis é destaque, mas golaços tiram três pontos. Tite deve manter o planejamento de time B? Estreia no clássico? Saiba o que o Cruzeiro prepara para Gerson no início de trabalho. Renovações: KJ renovado até 2030; Matheus Pereira avança. Com Danny Paiva, Henrique Fernandes, Fernanda Hermsdorff e Guilherme Macedo. Edição: Lavínia Aguiar. Dá o play!
Mais de 371 mil motoristas tiveram a carteira de motorista renovada automaticamente e sem custo. Os beneficiados também recebem o selo de Bom Condutor, atualizado diariamente no aplicativo da CNH do Brasil.Sonora:
Allen, Joel, and Yolanda examine TPI Composites’ Chapter 11 proceedings, including the Oaktree Capital secured debt controversy and Vestas’ acquisition of two Mexican factories. With remaining assets heading to auction in January, they discuss what operators should consider as blade supply uncertainty grows. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes’ YouTube channel here. Have a question we can answer on the show? Email us! The Uptime Wind Energy Podcast brought to you by Strike Tape, protecting thousands of wind turbines from lightning damage worldwide. Visit strike tape.com. And now your hosts, Allen Hall, Rosemary Barnes, Joel Saxum and Yolanda Padron. Welcome to the Uptime Wind Energy Allen Hall: Podcast. I’m your host, Allen Hall. I’m here with Yolanda Padron and Joel Saxum. Rosemary Barnes is on holiday. We’re here to talk about the TPI composites, uh, bankruptcy hearings, and there’s been so much happening there behind the scenes. It’s hard to keep track of, but we’ve done a deep dive and wanted to give everybody at least a highlight of what has happened over the last couple of months. So, uh, if you do own vessels or GE turbines, you understand what the situation is. As we all know, TPI composites, gee, was the world’s largest independent of wind blade manufacturing. Uh, they [00:01:00] were, it, they built blades for renova, Vestas, Nordex. They built blades for almost everybody, uh, names that basically power the global energy transition. And then, uh, if, and a lot of people don’t know this, but back in December of 2023, uh, TPI struck a deal that is drawing some fire. Right now, TPI swapped $436 million in preferred stock for. $393 million in secure debt held by Oak Tree Capital and by August of last year, just a couple of months ago, TPI filed for Chapter 11. Now the Blade Makers assets are being carved up and sold, and two of wind energy’s biggest players are stepping in to keep production running while the bankruptcy plays out. Now, Joel and Yolanda, I, I think the bankruptcy of. TPI sort of came to the industry as a little bit of a shock. Obviously [00:02:00] the, the price had fallen quite a bit. Uh, if you’ve watched the stock price of TPI composites had been dropping for a while and didn’t have a lot of of market value. However, uh, GE and Vestas both have manufacturing facilities basically with uh, TPI composites and, and needs them to produce those blades. So the filing of the bankruptcy, I’m sure was a nervous point for Vestus and GE being really the, the two main ones. Joel Saxum: Well, I think we talked about this a little bit off air. Is it, it shouldn’t just be Vestus and GE nervous about this now. It should be every operator that’s in either in development or still has blades under warranty. Uh, so, and this is a not a US problem, this is a global problem. ’cause TPI is a global company that serves, uh, global industry all over the place, right? We know that a large percentage of their throughput was GE and Vestas, but also Siemens ESAs in there, you name it, right? The, any major operator’s gonna have some blades built [00:03:00] by TPI or op major, OEM. So. There isn’t gonna be much of a, uh, dark corner of the wind industry that this issue doesn’t touch. So I think they, the, one of the issues here is, um, we’ve, we’ve, we’ve heard about some issues going on with TPI, but it was almost like a, ah, they’re not, they’ll, they’ll be okay. They, so, so something will happen. I mean, Yolanda, you had said. What was it that you said ear earlier? Like, uh, the kind of the, the, the feeling about it. Yolanda Padron: They’ll take care of it. You know, OEMs will take care of it and we’ll be fine. Joel Saxum: Someone’s gonna support this thing. Yolanda Padron: Yeah. I, I think teams, you’re, you’re definitely right. Teams really do need to at least think of a, of a plan B or a plan C to have when the dust settles so you’re not scrambling. Allen Hall: Yeah. And it hasn’t really played out that way. Uh, Vestas has stepped in a little bit and GE has stepped in. Not in terms of acquiring any of the major assets, but I think the first question is what is Oaktree Capital’s, [00:04:00] uh, role in all this? And that is being played out right now in front of the bankruptcy court. Uh, so when you go to bankruptcy, there’s obviously a lot of oversight that happens there, uh, and. When TPI composites entered bankruptcy, the accreditors committee had a bunch of questions about that transaction. Uh, they pointed to a December, 2023 refin refinancing deal with Oaktree and in which creditors were really suspicious of basically saying that TPI was already insolvent in 2023 and Oaktree exchanged equity for secure debt jumping ahead of everybody else in line to get paid. So because they Oaktree has secured debt, they’re first in line to get paid. If, uh, weather Guard was involved selling parts to TPI, which thank goodness we weren’t, we would be unsecured. They wouldn’t have to pay us. So Oaktree would get paid first and everybody else is unsecured, gets paid [00:05:00] later. Uh, that’s okay. I mean, that’s the way they, uh, they structured it. But this has led to a problem, right? So that oak tree. Uh, was supposed to release about $20 million in funding to keep the factories open, and that, that happened just a couple of weeks ago, and Oaktree refused to do it. So the amount of cash flow to keep the factories open was a real issue. TPI was in front of the court saying, we’re in trouble. We’re gonna become insolvent. We don’t have cash flow to keep the doors open. So the blade factories nearly shut down a couple of weeks ago. However, there was a, the settlement, uh, just after that, uh, in regards to Oaktree about when the payouts happen, what Oaktree will receive, and which basically it’s, most of whatever’s gonna happen here. So whatever, uh, TPI decides to sell or can sell, Oaktree is gonna be the recipient of those funds for most of it. I think the Joel Saxum: difficult thing here for. The [00:06:00] general listener, me included, is understanding that this is a very complicated legal process that’s governed and it’s global, right? So it’s governed in certain court systems in different places. And because there is also the idea of like say in the, in the United States, the SEC Securities Exchanges Commission, that kind of regulates these. Publicly traded companies. There’s a lot of lights and there’s a lot of lawyers and there’s a lot of jargon involved in this thing. And, but basically what what we’re saying is, is the way the process works when you have a, uh, a bankruptcy and insolvency, if a company has debt to certain people, there may be a list of a hundred people. There may be a list of two, doesn’t matter. There’s certain classes of debt, right? And Oaktree has secured debt, which means. If they get paid first, if there’s anything, right? If this bankruptcy goes and, and gets, sell this, sell that, sell this, whatever’s left, goes to the secured debt and then it goes to unsecured debt. And [00:07:00] there’s sometimes there can be different classes of unsecured debt as well. And, but if there’s not, some of it just goes by like date or value or everybody gets a percentage, it just kind of all depends on how it works out in the specific court system that the stuff takes care of. But that person. That is the top. Um, in this case, Oaktree Capital, right? Based out of la but offices all over the world, they got about $200 billion in real estate equity and debt assets or, uh, I guess valuation. I wouldn’t say assets. Um, they are the debtor in possession, so they’re the one that’s kind of like top of the heap. They’re kind of controlling how the. The restructuring and or sale goes alongside the court system. Allen Hall: And the trouble is, is that when you have unsecured and secured debt, everybody that’s unsecured wants to get paid. So any material supplier that has been for in selling product to TPI over the years [00:08:00] usually has a 30, 60, 90, maybe 120 days of, of after they deliver the product to they get paid. In that timeframe, if bankruptcy happens, all that product that’s sitting on the floor at TPI, you sort of lost it. You know, you can’t get it back and you’re not gonna get paid for it for if, if, if ever, what do you do? And so you start, you know, you start filing claims, but those, those claims most likely will never get paid. Or if they will, they’re going to get pennies on the dollar. Joel Saxum: Yeah. And I would imagine like, so, you know, when we, when we sit here and say from the weather guard hat, right? We put a. They go to a client, net 15, net 30, we expect to get paid in that amount of time. That’s kind of how our, basically US forwarding credit to someone else. That’s how it works. And if you work within the wind industry, you know that the OEMs, because they are the OEMs, they have a heavier hand. Sometimes they’re net 90, net one 20. Um, once they, once they’re cool with your invoice. So you could see that some of these people that have, [00:09:00] uh, and TPI falls within that OEM category, right? Um, you can see that they more than likely will have had longer, more favorable terms for themselves with some of these sub-suppliers. And the sub-suppliers are, think about TPI blades. It is composites, it is fabric, it’s resins, it’s all of those supply companies. Um, and you know, there may be, uh, some other. Dead in there that you’re not, we’re not sure of. We saw some stuff with some OEMs, maybe they have some exchange agreements you paid up front for some blades or something of that sort. You didn’t get ’em. I don’t know. But there is also, and this is the one that kind of hits home to some of our listeners, um, not only some of our listeners are those supply chain companies that support them, um, but a lot of them are ISPs. Right? So we were just talking to someone who, you know, just a couple weeks ago that had done some inspection work, uh, for, for TPI that. They’re not gonna get paid for it. Um, we have seen on the creditors list of some ISPs that we know they’re not gonna get paid, and those are people out [00:10:00] doing warranty repairs and those kind of things over a course of time. And they may have had a net 30, net 60, net 90 days payment, but I’m sure that stuff is well and long gone. They probably have invoices due for a year now. Uh, but it, this, the, the, this downfall of TPI, what’s going on with them, it affects a lot of people in the wind industry. Um. Be being, having been on the short end once in my career of an unsecured debt, uh, when a, when the client or the, uh, um, purchaser of services, but went into bankruptcy and losing a whole bunch of cash, and there’s nothing you can do about it, um, except for. Be mad and stew over it and learn from your mistakes. Uh, that’s a tough place to be. Speaker 5: Australia’s wind farms are growing fast, but are your operations keeping up? Join us February 17th and 18th at Melbourne’s Poolman on the park for Wind energy o and m Australia [00:11:00] 2026, where you’ll connect with the experts solving real problems in maintenance asset management. And OEM relations. Walk away with practical strategies to cut costs and boost uptime that you can use the moment you’re back on site. Register now at W OM a 2020 six.com. Wind Energy o and m Australia is created by wind professionals for wind professionals because this industry needs solutions, not speeches, Allen Hall: the problem. With TPI has been keeping the doors open and they went in front of the court and said, we have a liquidity problem. Uh, Vestus bought those two factories, those two LLCs for $10 million each. That was the agreement During that transaction, TPI asked for another $55 million, uh, and it’s in the transcripts. You can go listen to this dental, listen to it, but obviously the vest representatives were. No [00:12:00] way. We’re not doing that. We are in good faith. De decided to buy, uh, these two pieces. So 10 million bucks a, a factory is. Pretty decent price, but they are still in a liquidity challenge. So GE Renova and Vestus, uh, don’t want the Blades manufacturing to stop. They have customers who need blades and so they need these TPI factories to keep running. GE Renova is providing emergency financing. Uh, through what the court calls, uh, Erna, G-E-R-N-A, it’s a liquidity agreement. Uh, they also signed a long lead materials agreement to keep raw materials moving into the plants. Vestas provided cash advances to keep production going at the Mexico facilities also. So for now, everything continues to be running, but essentially GE and Vestas are pro paying for the materials. To keep the production line going and there’s this, there’s on the back end of this TPI is essentially. Gonna charge, um, [00:13:00] GE vest less for the blades when they roll off the line because they advanced some those funds. So, TPI as an organization is still trying to continue to produce blades and trying to honor their commitments as much as they can, but they need cash and the, the place they’re going to go get it or have been getting it from as Vestas in GE Renova. So you Joel Saxum: one would expect that either Vestas or GE Renova would eventually just say like, we’ve got to buy you. Is that a reality? Because it doesn’t seem like it from the court documents and stuff. It seems like they’re, they’re kind of, they don’t want to get their hands into back or back into, in GEs case, this blade manufacturing, uh, faculties, right? They’re okay right now providing cash for you guys to keep your operation running and providing us with the things we need. But we don’t actually want to take it over. That’s what it feels Allen Hall: like. Uh, well, Vestus did, right? So Vestus took over two factories in Mexico. GE has not done [00:14:00] that yet, and there’s no indication from the proceedings that I read on all the documents that GE has made any move to do that. Vestus definitely stepped in and wants to keep the two factories running, uh, with the issues with ge, Renova and LM at the minute, and there was a lot of layoffs at LM just before the new year. It’s a question of what GE will do, and it doesn’t seem like as of right now, GE is going to buy factories. Now that being said, uh, TPI composites has deadlines to meet and some auctions to run. Uh, the remaining assets, the non vestus. Portion and the, the Turkish operations, which were sold way earlier, uh, all of the remaining assets go up for bid on January 26th. And if no outside buyer steps in, which is very possible, Oak Tree Capital can use its debt as currency to take ownership of from what is called a credit bid. [00:15:00] From there, uh, the secure lender could convert that debt into equity and, and so basically what happens is Oak Tree Capital. Would be the holder of the company for whatever remains. But you would think that GE Viva, uh, would want to have some piece of this to keep the blade factories running, but there’s no indication of that. No one from GE has said anything. None of the filings indicate that GE wants to go ahead and or ge. Viva wants to go ahead and buy the factories. Nothing like that has happened. So there may be, uh, some more financial transactions at play here, but as of right now, everything that remains for TPI composites is gonna be in the auction block. Someone could walk up and for several million dollars, obviously, uh, acquire it and Joel Saxum: in theory run it. So, I mean, Alan, you and I talked about this this morning a little bit. We have seen more [00:16:00] layoffs at lm. Right. We saw more people depart and it sounds like that building is basically a ghost town over in Denmark. GE is basically scuttling LM down to nothing, and they will more than likely either sell off whatever LM has or discontinue whatever that business model is, if that’s where they’re going, blade wise, wind wise. At the same time, they’ve also said, we’re not building any more g offshore turbines. Allen Hall: What are they Joel Saxum: doing? I don’t see them having the, the, the, the thirst to go scoop up or put any money into TPI, but it’s like a catch 22. ’cause they need them to fulfill the orders and stuff that they have. Right now what we’re staring at is basically oak tree composites. Allen Hall: There’s no chance of that. The oak tree doesn’t know how to run that business. They’re gonna have to hire somebody to go do that. Even if they did, you still got factories in Iowa, a bunch in Mexico, other [00:17:00] places. You have all these assets kind of spread all over the place. It’s not like running an automotive dealership on the corner, you’re, you’re running a major operation with thousands of employees and producing these massively complex blades. There’s only a handful of companies that would be even possible that we could acquire that and run it with any competency at all right now. Joel Saxum: So does oak tree being, being that oak tree is the debtor in possession and if, if possible with, or if possible, if it, if it rolls this way with the plan toggle, right. Where they would basically, the cell would convert them into equity holdings and they would own it. Are they the gatekeepers to who can bid? Like do they control ge? You can bid vest as you can bid? Or does the court control that? Allen Hall: The court controls all of that. So it’s all part of the chapter 11 proceedings. Anybody can walk up and put a bid in. And now whether it qualifies or not is, is a good question, but anybody can walk up and, [00:18:00] and make a claim for what remains. There’s, there is a process that will happen there, but who else would it be? Nordex? I don’t think so. Is is Vesta gonna buy more? I don’t think so. So the concern is obviously for TPI, what is it gonna look like going forward? If you have purchased Vestus turbines or GE Renova turbines, are you gonna have the blades that you have purchased in time? Great questions to ask. I think on the other side is if you do own GE Renova or Vestus turbines and they’re made by TPI, where the technical aspects lie, what do you do where, what should you be thinking about if you’re a large operator of some of these turbines? How I should be planning for the future here? What are you thinking about? Joel Saxum: So let’s divide it into two categories. One of them is turbine blades on order supply chain, supply [00:19:00] chain, and the other one’s being turbine blades already in production or received order. Yolanda Padron: I’m not sure that we can fully look at them separately though, right? Because if you have them, if, if they’re yours and they’re under a service agreement or something. Eventually you might be in the queue for a replacement that you need, right? That your OEM would be on the hook for. Joel Saxum: That raises another question there then does. I don’t, ’cause I don’t know this. Maybe you do. Alan does a bankruptcy qualify as a force majeure event? Allen Hall: Not in terms of like lightning would be, but, but in terms, yeah, sure. Joel Saxum: Yeah. But can they claim force majeure and be like, uh, out of our control? So now the turbine supply agreements are, you know, basically have to be rewritten. Timelines have to be rewritten. Yolanda, to your point, if we have a blade that we need for production, am I not responsible for LDS anymore because the blade manufacturer went into, uh, bankruptcy? Yolanda Padron: I think it’d be more of [00:20:00] either Now you’re not just. In the queue for TPI Blades. But you’re in the queue for whatever we can retrofit there, right? That they could put in. Joel Saxum: Yeah. The alternative is you need a whole set though, right? So if we say like, I need a blade from TPI, or I need an entire set of LM blades, now you’re triple the cost. Who has to pay for that? Yolanda Padron: I really would hope that it, they wouldn’t go this route, but I think some OEMs would just hit liquidated damages. And stop. Allen Hall: That’s what I think too. I mean, we’ve seen that happen with some of the OEMs. Is that the, uh, LDS and that’s it. There is nothing going forward. They’re, they’re fine doing that. That’s the only play that they have. I, I am deeply concerned what GE Renova is about to do in the wind business because of their gas turbine and everything else are so profitable. And they just announced that the wind business in 2026 is not likely to make any. Positive cash flow. [00:21:00] It, the, the discussion inside of GE Renova, at least at the sort of the boardroom level, must be really tense because in, in theory, they could buy TPIs assets in the factories and run them, but they just went through essentially a liquidation process with lm. Do they want to run another company, especially when they’re bleeding cash in that particular business? I think the answer GE historically has been no. If we’re not number one or number two, we’re getting the heck outta that business. That was the Jack Welsh of running ge, and anybody that worked for GE knew that loud and clear because they said it all the time. Those same people that grew up in that GE culture are now in the boardroom, and what are they likely to do? They’re likely to follow that advice. Because it’s just what they know. It’s, it’s, it’s, it’s the school they went to. Are they gonna change their mind and say, A longer term play is wind [00:22:00] and we wanna stay in it and we’re willing to lose a couple hundred million dollars a year for the next couple of years, and now we’re gonna run a Blade Factory with several thousand employees down in Mexico. I just don’t see it. Uh, not that I could be totally wrong about that. Probably am. Uh, today, sitting at the beginning of January of 2026, I don’t think GE Renova wants to be in the blade manufacturing business if they can at all avoid it. Yolanda Padron: I think it’s important for owners to start thinking a lot more about educating their internal teams on what they can. So if it’s through, if you know people within your OEM that you can trust and that can help you. Learn how to self-service some of your blades. That would be great if it’s through ISPs that you can trust. If it’s a hodgepodge of items. I think it’s really important for owners right now to start building that up because it will take a while. I. And, and the risk [00:23:00] is there. Allen Hall: That wraps up another episode of the Uptime Wind Energy Podcast, and if today’s discussion sparked any questions or ideas, we’d love to hear from you. Reach out to us on LinkedIn and don’t forget to subscribe so you never miss an episode. And if you found value in today’s conversation, please leave us overview. It really helps other wind energy professionals discover the show. And we will catch you here next week on the Uptime Wind Energy Podcast.
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