Optigear formed following Galetech Group’s acquisition of Precision Gear Company
New company Optigear extend the life of current fleet of turbines
€5m Renewable Components Hub planned to futureproof existing renewable network on the island of Ireland
Galetech Group, the Cavan-based renewable energy and sustainable living company, has announced it has acquired Northern Ireland based Precision Gear Company (PGC) from Macrete Ireland Ltd. PGC specialise in the international collection, maintenance and refurbishment of gearboxes which are proven to be the most expensive component in a turbine, as well as the most difficult and complex part to handle and fix.
Following the deal, Optigear will continue to serve clients in the European and UK wind, rail, marine, and mining sectors. Optigear will work in collaboration with another Galetech Group company, Optinergy. Optinergy is Ireland’s leading independently owned operation and maintenance (O&M) service provider to the renewable industry and this combination of specialists will provide clients access to an inventory of multi brand gearbox & components, in addition to their repair & restoration service.
Optigear will also offer the management and climate-controlled storage of these parts and the capacity to deliver their turnkey or ‘tower ready’ installation. This new service, when combined with parts exchange, will result in reduced down time for windfarm operators, ensuring that renewable energy production is stable and efficient.
Galetech Group now have plans to invest around €5 million in a state-of-the-art Renewable Components Hub. This facility will be the first of its kind in Ireland or the UK and will allow for the real-time replacement of critical components of renewable energy infrastructure, combined with solutions for their analysis, optimisation, and testing.
The collaboration between Optigear and Optinergy, as well as the planned development of a Renewable Components Hub, has the potential to futureproof not just the Irish renewable energy space but also impact the wider European market. The creation of this one-stop-solution will for the first time provide a centrally located, repair, refurbishment, and R&D supply chain. Similar services were previously only available through multiple partners, who were located across continental Europe.
This disjointed, logistically difficult network as well as being carbon emission heavy was also out of reach to many Irish operators. This geographical barrier resulted in Ireland being left on the periphery of many renewable implementation and improvement processes.
Operation and maintenance fees for wind turbines make up a considerable share of annual running costs, accounting for anywhere from 10-35% of the total cost per kWh produced over the lifetime of the turbine. The deal will see Optinergy grow its headcount by 40% and upscale to take full advantage of the wind turbine operation and maintenance market, which is forecasted to grow to just under €45bn by 2028.
Darren Sherry, CEO of Galetech Group, said:
“The acquisition of this business reenforces our commitment to providing the highest quality service to our clients & partners; in the short term Optigear will help customers to extend the lives of their critical components keeping wind turbines online for longer than would otherwise be possible.
In the medium term our investment in new test facility will bring the quality to a level only seen with OEM’s and not currently available on the Island of Ireland – with the growth of turbine scale we see this research and test facility as a key element to reduce downtime for our customers.”
Richard Hogg, Director of PGC and Macrete Ireland Limited, said:
“Over the years we have grown PGC and we are proud of what we have achieved. This sale to Optinergy will allow us to return to our roots in the precast concrete sector. We are very familiar with Optinergy, and PGC’s offering will complement the company very well. We look forward to seeing what Optigear can achieve.”
ENDS
For more information:
Andrew Smith | Murray | asmith@murraygroup.ie | 083 076 5717
About Galetech Group
Galetech Group is a Cavan-headquartered leader in renewable energy consulting, product solutions, project management and sustainable living. Galetech currently employs 130 staff and operates in Ireland, Northern Ireland, The Belux, Greece and South Africa. The group has delivered 495 MW of wind and currently has 615MW in its development pipeline. It recently expanded into the Australian market, with the launch of Galetech Australia to provide consultancy services in the active Australian renewable and mining sectors.
About Optinergy
Optinergy is Ireland’s largest independently owned Operation & Maintenance services provider to the renewable industry. Optinergy offers a full suite of Operations & Maintenance services including regular preventative maintenance and 24/7, 365 Operations Control. The business currently manages 433 operational assets across Ireland, Northern Ireland and the UK.
