UK-based industrial and automotive lubricant brand Castrol has entered into a joint venture (JV) with engineering and technology solutions provider Romax Technology’s InSight business to help expand its wind turbine predictive maintenance business.
The new JV will combine Castrol’s global reach and knowledge of wind turbine lubrication with InSight’s efficiency in providing predictive maintenance, software, and data analytics solutions.
BP Lubricants' chief operating officer Mandhir Singh said: “We’re incredibly excited about the potential this JV will create, both for the new business and also our existing customers.
“By working together, I believe we will create a powerful, faster-growing business in the wind sector and beyond.”
Serving as a predictive maintenance, designing software and engineering services provider, Romax’s InSight business helps monitor the condition of wind turbines and predict breakdowns. The advanced capabilities of Romax InSight facilitates the company’s customers to save up to 30% in maintenance costs.
Romax Technology's chief executive officer Andy Poon said: “We’re always looking at ways to drive innovation at Romax.
“The aim of Romax InSight is to combine our deep understanding of design and operation of wind turbines with advanced data analytics to provide practical solutions that reduce operations and maintenance costs."
According to BP 2016 Statistical Review of World Energy, wind power generation is expected to grow considerably over the coming 20 years. In 2015, wind energy production increased by 17.4%, supplying 3% of the total electricity requirement worldwide.
Image: Castrol and Romax to grow wind turbine predictive maintenance business. Photo: courtesy of Castrol.