Both parties hold an equal share in the new company, Gehrlicher Merk Solar Enerji A.?., which is headquartered in Istanbul.
In a statement released they say their activities will include photovoltaic project development, EPC services, financing and operations. The intention is to establish a number of local partnerships with system integrators in Turkey, in order to both develop projects and distribute photovoltaic products, which include modules and inverters.
Murad Baltac?, CEO of Akfel Group said that a key goal of the new company will be "to capture a good share out of the 600 MW that are expected to be completed by 2015 in Turkey." He added that they will "directly" start developing photovoltaic projects.
"Due to its fast growth and increasing energy demand, Turkey is a highly attractive market for solar power," added Klaus Gehrlicher, CEO of Gehrlicher. "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."
pv magazine has contacted Gehrlicher to obtain further project information.