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The Irish-born businessman behind a 10 million euro green energy project says Ireland is at the beginning of a sustainable energy “gold rush” that could help revive coastal communities.
Tech and telecom millionaire Pearse Flynn made his remarks after introducing his new venture Green Rebel Marine to serve the future needs of offshore wind farms, with an estimated € 5 billion in projects in the pipeline.
His comments came as the shipping company Irish Mainport Holdings also announced its entry into the offshore wind sector.
The Cork-based company has invested in a 50-meter survey and research vessel, the Mainport Geo, has purchased a portion of the Wicklow-based offshore services company Alpha Marine, and has purchased all of SO’s marine assets .PRO. MAR, which was the leading Italian company in the provision of marine services to the Mediterranean scientific research market.
Flynn, 57, who grew up in the East Cork fishing village of Ballycotton and owns and runs the British debt settlement company Creditfix, has acquired Crosshaven Boatyard in Cork for his new business base and has commissioned two new multi-million dollar high-tech products. survey vessels – one, the , the name of his mother, the other, , named for his grandson.
He said reports show that the wind farm services sector has the potential to keep between 12,000 and 15,000 jobs here in the coming years.
He said his company aims to create 80 jobs in two years and develop a center of excellence at its Crosshaven headquarters.
“The coastal towns are changing. It is difficult to find a fisherman under 40 years old,” he said.
“Investors are looking to deploy billions in capital off our coast, planning wind farm projects from Dundalk, on the east coast and along the south and west coasts.
“As well as allowing Ireland to become a net exporter of energy, they will need a supply chain to support them.
“The construction of these wind farms, 60 to 70 miles from the coast, each turbine up to 240 meters high, is just the beginning.
“They have to be operated and maintained for the next 30 or 40 years. These are the jobs that will be sustainable.
“We are pioneers in this area. We don’t want to be known just for providing the boats. We will also provide the skills of surveying, repairs, maintenance, service.
“Instead of buying that service, we will be an Irish company that will provide that service. And I see us developing bases in coastal communities around the coast.
“I am very excited about the potential of this. I’m energized by the whole thing. This will be a gold rush. ”
Mainport CEO Dave Ronayne, with a planned € 5 billion investment in offshore wind farms in the coming years by operators such as Innogy, Parkwind, ESB, Statkraft, Fred Olsen and SSE, says the surveying industry and services will grow.
“We are excited to join Alpha Marine, which is ideally located and has a great track record in serving the offshore wind industry over the last decade. Our combined resources will allow us to provide a complete marine and technical solution for all marine requirements, ”he said.
Flynn, who now resides primarily in Glasgow, made headlines around the world in 2000, when, at the height of the dotcom boom, he sold Newbridge Networks to Alcatel for almost € 8 billion.
Next, he created Damovo, a systems integrator; he then bailed out call center company Contact4 before establishing Creditfix, one of Britain’s largest personal insolvency advisers.
He has held senior positions in various companies, billing in billions a year, including Wang and Compaq, and has owned shares in Scottish football clubs, including Celtic.
Since 2018, he has invested millions of his own personal fortune in his hometown to help it realize its full tourism potential.
In Ireland, Mainport operates three tugboats in the Shannon Estuary, provides a dedicated supply vessel in the Kinsale natural gas field, as well as ship agency and stevedoring operations in Cork and Limerick.
Internationally, Mainport operates seismic support ships in world trade and has significant interests in fast-crew ships and anchor-handling ships in Malaysia and Australia.
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