Conergy has announced its expansion into Turkey with the establishment of a solar energy company with the Turkish CO group as co-owners.
The new company, RKT Conergy, will provide project development, financing, Engineering, Procurement and Construction (EPC) and Operations & Maintenance (O&M) to the Turkish market with a focus on commercial rooftop and ground-mounted solar.
Turkish CO Group is a strong and capable joint venture partner which will assist Conergy’s entry into the Turkish PV market. The company is owned by the Cenay Group which owns multiple companies in electrical infrastructure, real estate, construction, and telecommunications. Turkish CO Group’s product development company, RKT, has developed more than 800 MW of wind energy to date and is now working with Conergy to develop solar energy projects.
Currently, Turkey is one of the most attractive emerging solar markets on account of an increasing energy demand and high irradiance level. It also benefits from a government-sponsored Feed-in Tariff (FiT) programme.
RKT Conergy will be led by Heinz-Peter Tienken, Vice President Global Engineering & Service of Conergy, and Utku Korkmaz, Managing Director of RKT.
“We made good progress in building up a pipeline within the unlicensed PV segment and already have 30 MW of secured grid” said Utku Korkmaz, Managing Director of RKT Conergy. “With the addition of Conergy, which is both bankable and experienced in the solar sector, we will be able to further strengthen and speed up our project development activities.”
Conergy’s expansion into Turkey follow’s its recent return to profitability with nearly half a billion US dollars of revenue in 2014 and the completion of an equity financing round in March 2015. It is one of the fastest growing downstream solar companies in the world and is engaged in continuous expansion of its high quality services in project development, financing, EPC, and O&M globally to all the solar segments: utility-scale, commercial and residential. In 2014, Conergy developed and installed 300 MW of utility scale projects, bringing its total installed capacity to nearly 1 GW and placing it among the largest solar companies globally.
With the incorporation of the company, RKT Conergy will be able to immediately execute project development on its pipeline. European renewable energy producer Starkraft has selected RKT Conergy as the EPC provider for its first PV Project in Turkey.