Galetech invests in wind O&M co Optinergy

Renewable energy company Galetech Group has bought “a majority stake” in Optinergy Ltd, a provider of operations and maintenance (O&M) services to the wind industry in Ireland, Northern Ireland and the UK.

Galetech did not disclose the sum it paid for the ownership interest, but according to industry sources quoted by The Irish Times the transaction is valued at about EUR 1 million (USD 1.2m). It involves the acquisition of a 38% stake in Optinergy from BVP Investments, the report says.

Earlier this month, Optinergy announced a framework contract with SSE Renewables under which the firm will support service, maintenance and major component works across the client’s fleet in Ireland and Northern Ireland.

“Their recent inclusion on SSE Renewables’ framework agreement for their sites in Ireland and Northern Ireland mean that there is a strong pipeline of activity upcoming. Optinergy enhances the experience and expertise Galetech Group already has, while opening up new avenues to grow – particularly in terms of solar power and battery storage,” Galetech commented on social media.

(EUR 1.0 = USD 1.180)

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