The joint venture company, named “Gehrlicher Merk Solar Enerji A.Ş.” will be headquartered in Istanbul. Each partner has an equal share in the company.
The new company will focus on project development, engineering, EPC services, financing and operation of power plants.
In addition it plans to establish local partnerships with system integrators in Mediterranean, South Eastern and Eastern regions of Turkey. The purpose of these partnerships is the development of projects and wholesale of PV modules, inverters and Gehrlicher’s own GehrTec components.
“In this joint venture, we will combine Gehrlicher Solar’s 17 years of experience in the planning and construction of solar power plants with Merk Solar’s deep market knowledge and powerful local network,” said Murad Baltacı, CEO of Akfel Group. “Our goal is to establish a strong presence in Turkey and its neighbouring countries. As an EPC company, we are planning to capture a good share out of the 600 MW that are expected to be completed by 2015 in Turkey. Furthermore, we will directly start developing our own projects.”
Klaus Gehrlicher, CEO of Gehrlicher Solar AG, added, “Due to its fast growth and increasing energy demand, Turkey is a highly attractive market for solar power. The Turkish government acted thoughtful and forward-looking when creating a feed-in tariff which allows interesting investments in renewable energies, but which is at the same time very close to the general electricity tariff. These are ideal preconditions for a reasonable and sustainable market growth. We are happy to partner with Merk Solar and look forward to carrying out many successful projects together.”
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