Frontline: No new investment in wind in Northern Ireland.
Optinergy of Stradone, Co. Cavan specialises in provision of operations and maintenance services to the wind industry in Ireland north and south and across Europe. It manages and maintains a high number of wind turbines across Northern Ireland which makes up about 30% of its business on the island of Ireland.
Their business is priced in Euros so there will be no significant impact on income as a result of currency movements since the Brexit referendum, but with a cost base in Euros the performance of the Northern Ireland contract base is a little uncertain.
Director Aiden Watters says the impact will not be known until the full implementation of Brexit and the resulting currency adjustments.
“Overall the UK wind energy market is stable: the conservative government has not extended schemes for small-scale wind energy. As a result there is no new investment going into the 250kw wind market in Northern Ireland. In the Republic wind energy has not reached critical mass yet and will be driven more by the business case than by incentives. We believe there will be a strong movement towards electrification of transport in the coming years so all the indications are for growth in wind energy.”
Looking beyond currency impact, Watters says it is extremely difficult to predict how UK withdrawal from the single market and in all probability from the customs union might impact on the industry, except that it adds to general uncertainty.
The Frontline Project was carried out by Brexit Border Blog on behalf of the British-Irish Chamber of Commerce and Chambers Ireland