Feb 06 in Real Estate Portfolios Written by: adminexpat
Sabah – German solar energy company Gehrlicher Solar AG and Turkish energy company, Merk Solar Enerji joined forces to develop photovoltaic projects in Turkey. The equal share JV established under the name of ‘Gehrlicher Merk Solar Enerji’ will invest in solar farm projects in eastern and southern parts of Turkey and will develop commercial solar energy solutions for individual homes.
Officials from both companies stated that their activities will include photovoltaic project development, EPC services, financing and operations in a joint statement at the new company’s headquarters in Istanbul.
Gehrlicher Merk Solar Enerji aims to have a major share in Turkey’s solar energy market, expected to reach 600 MW of installed power by 2015, Murad Baltacı, CEO of Akfel Group said. He added that the company will reach Turkey’s solar-rich Aegean, Mediterranean, Eastern and Southeastern Anatolia regions via distributorships and seek local partnerships for projects under a 500 KWh limit. Electricity generation of up to 500 KWh from renewable sources is exempt from licensing under Turkey’s Energy Market Regulatory Authority (EMRA-EPDK) regulations.
CEO of Gehrlicher, Klaus Gehrlicker touched upon Turkey’s attractiveness as a solar energy market and praised the Turkish government’s foresightedness in creating a feed-in tariff for renewables that almost matches the general electricity tariff. “Turkey’s fast growth and increasing energy demand make the country a highly attractive market for solar power. The Turkish government’s policy of encouraging renewable energy investments with the latest feed-in tariff is a crucial step for creating the necessary conditions for sustainable market growth,” he added.
Turkey aims to have 100,000 MW of installed capacity in 2023, a third of which will be generated using renewable energy sources. Photovoltaic energy projects are expected to make up 9000 MW of the total capacity.