The settlement creates a Community Claims Fund to compensate local businesses and residents for “economic harm."

The collapse sent fiberglass debris into the ocean and onto Nantucket beaches. GE Vernova said a manufacturing issue was the reason for the failure.

Nantucket town officials announced a $10.5 million settlement with wind turbine manufacturer GE Vernova to compensate for losses stemming from the July 13, 2024 failure of a turbine blade on the Vineyard Wind project.