Below are the excerpts of our recent interview with Mr. Des Johnson, Global Marketing Director, Digital, BP Lubricants
Could you tell us something about your recent partnership with Romax Technology?
In mid-February, Castrol and Romax Technology announced the setting up of a joint venture to grow this wind turbine pre- dictive maintenance business. Under this tie-up, Castrol has taken a controlling inter- est in Romax Technology’s InSight busi- ness, thereby combining Castrol’s expertise in wind turbine lubrication with Romax Insight’s predictive maintenance, analytics and software business.
The deal will make leading physics based and data-driven predictive analytics avail- able to more wind turbine operators which could potentially result in a reduction of their maintenance costs by up to 30%.
How are you planning to bring your years of expertise of wind turbine lubri- cation to predictive maintenance busi- ness?
The lubrication and maintenance of a wind turbine’s expensive gearbox is critical to optimising its performance and reliability. Romax InSight is a rapidly growing pre- dictive maintenance provider, designing software and engineering services which monitor the condition of wind turbines, and predict breakdowns – potentially resulting in a saving for its customers by up to 30% in maintenance costs.
Castrol’s over 30 years’ experience work- ing in the wind sector and its global reach and knowledge of wind turbine lubrication, combined with Romax InSight’s expertise in predictive maintenance, software and data analytics for wind turbines, makes this deal a strong strategic fit. By working together, we believe we will create a more powerful, faster-growing business in the wind sector. Our aspiration is for our new joint venture to be the leading provider of predictive analytics services in and beyond wind.
How is the Indian wind sector different from its global counterpart?
India is set for a rapid, sustained growth for energy demand. According to the lat- est BP Energy Review, it is projected that India’s energy consumption will grow the fastest amongst all major economies by 2035.
Over the period of the next twenty odd years, the fuel mix is expected to evolve very slowly with fossil fuels accounting for 86% of demand in 2035, compared to 92% today. Whilst coal is expected to remain the dominant fuel, its share in the mix is expected to fall from 58% today to 52% by 2035, while the share of renewables rises from 2% to 8%.
The Government of India has identified power as a key sector of focus to promote sustained industrial growth. The goal is to provide electricity to every home in India by 2020.
Given the outlook and with focus on reduc- ing global warming and greenhouse gases, the scope of growth for Wind Energy in India is huge. In terms of wind power installed capacity, India is globally placed at 4th position after China, USA and Germany. Current installed capacity of wind energy in India is 28000 MW and Government of India plans to increase the wind energy production to 60000 MW by 2022. Towards this, the Renewable energy ministry in India has eased norms for entry in wind power sector recently and is taking a number of steps and initiatives like tax exemption, accelerated depreciation etc to promote wind energy.
The Indian wind market has both Global OEMs like GE, Vestas, along with Indian OEMs like Suzlon, Inox etc. Indian OEMs have a market share of about 60% in India.
The target set for the wind energy sources for the next three years are:
What are your growth plans for the Indian market? What are the milestones you wish to achieve by the end of this fiscal?
The Indian Wind market is likely to grow by around 15% in 2017. With the strong growth in the Wind sector turbine mar- ket, operational efficiency is crucial. With brands like Castrol Optigear, we are in a position to provide a total lubricant solu- tion that delivers greater gear life, protec- tion and productivity across all environ- ments. Castrol’s aim is to be the Number One lubricants player in the Wind segment in India by end 2017.
Anything else you would like to add for our readers.
Castrol has a growing position in the wind sector and we are working to help the world move towards a low-carbon future. This is a marketplace we’ve been watching for some time and is a key focus in our industrial strategy. We are really excited about the potential the new joint venture with Romax InSight will create, both for the new business and also our existing customers in the wind industry. By working together, we believe we will create a more powerful, faster growing business in the wind sector. Our aspiration is for the new joint venture to be the leading provider of predictive analytics services in and beyond wind. Romax InSight is a vital building block that helps us achieve our ambition and we are all excited about the future we can create together.