ENERGYPRO ASSET MANAGEMENT TO BE LARGEST HOME-GROWN IRISH WINDFARM MANAGEMENT COMPANY
DUBLIN, 27th March 2017
EnergyPro Analytics and Galetech Energy Services (GES) are delighted to announce their new joint venture entity EnergyPro Asset Management. The Joint Venture will be owned 50 – 50 by the two companies. The new venture will have an initial combined long term contract roster of 180MW of wind turbines.
The Joint Venture will manage assets for a variety of windfarm owners from independent Irish developers to multinational institutional investors such as Impax Asset Management and Greystone Infrastructure Fund.
EnergyPro Asset Management combines the expertise of Galetech in operating windfarms and the analytical expertise of Energy Pro Analytics. Both businesses have substantial experience, with over 20 years of operating wind farms in Ireland. The Company has a state of the art operational control centre from which wind farms performance can be monitored and the assets safely managed.
Ireland currently has approximately 2900MW of installed wind capacity, representing an investment of approximately €4.4bn in renewable energy infrastructure. This number is expanding as investment funds target the renewable sector as offering attractive returns for a relatively long term. EnergyPro Asset Management uses its state-of-the-art analysis tools to maximise the electricity produced at each wind turbine and in turn increase investor’s return.
Welcoming the new joint venture
Donogh O Brien, Director of Galetech Energy Services said:
“We are very happy to join with EnergyPro Analytics to form EnergyPro Asset Management. Sheila and her team have been managing operational windfarms in Ireland for 20 years. This experience, combined with our 24/7 operational control centre and detailed turbine component knowledge, means that our customers will see real added value in their assets. As Ireland continues to develop its renewable energy sector, Energy Pro Asset Management can help developers and investors maximise the return from their projects.”
Sheila Layden, Director of EnergyPro Analytics said:
“We are delighted to officially announce our new joint venture company EnergyPro Asset Management. In EnergyPro Analytics, we have carried out operational windfarm analysis for customers on over 690MW of installed capacity in Ireland. By combining forces with GES, we will benefit from their deep sectoral knowledge and become the largest home-grown Irish windfarm management company. As more and more wind farms come under the ownership of non – energy companies, there is a clear market opportunity for our business. This technology based approach to maximising output can deliver significant improvements to the output and long-term profitability of a wind project.”
It is expected that the initial team of 18 people will grow substantially in the coming years. The Joint Venture will have offices in Athy, Co. Kildare, Stradone, Co. Cavan and in the Airport East Business Park, Cork.