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Conergy launches operations in Turkey

New joint venture with CO Group designed to expand Conergy’s solar business in the region.

Conergy announces its expansion into Turkey with the establishment of a co-owned solar company called RKT Conergy. This new company is co-owned with the Turkish CO Group, part of the Cenay Group.

Under the terms of the joint venture, RKT Conergy will provide project development, financing, engineering, procurement and construction, as well as operations and maintenance services to the Turkish market. The joint venture will focus on commercial rooftop and ground-mount segments.

The joint venture 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.”

The CO Group is owned and managed by Cengiz Guldamlasi, who has extensive business experience in Turkey. The Cenay Group owns multiple companies in the relevant business segments of electrical infrastructure, real estate, construction, and telecommunications. RKT, the project development company co-owned by Cengiz Guldamlasi, has developed more than 800 MW of wind parks to date and is now developing solar projects together with Conergy.
Conergy’s expansion into Turkey follows the company’s recent return to profitability, bringing in nearly half a billion USD in revenue in 2014, and completing an equity financing round this month, which included giant European utility, RWE. 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.

“We look forward to expanding our global business to the Turkish market,” 1 said Alexander Gorski, chief operating officer of Conergy. “Further, we are pleased to have the CO Group as our partner in this promising market.”
  1. Turkey is one of the most attractive emerging solar markets with favourable market conditions: increasing energy demand and high irradiance level, supported by a government-sponsored feed-in tariff program.

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Energy efficiency  •  Energy infrastructure  •  Policy, investment and markets  •  Solar electricity