Chinese solar products maker ET Solar Energy Corp said Thursday it has established a subsidiary in Turkey and expects to initiate as much as 50 MWp of photovoltaic (PV) projects there in 2015.
The company is currently finalising talks with leading investors and customers for the capacity, according to the press release.
More precisely, ET Solutions AG founded ET Solutions Istanbul and it has finalised term sheets for solar projects with a number of local investors. As part of the deal, the new entity will provide engineering, procurement and construction (EPC) along with operations and maintenance (O&M) services for the plants, the parent explained.
“ET Solutions is also able to offer project financing from Turkish and international banks, as well as the ability to expedite Turkish Electricity Distribution Co (TEDAS) approvals and permits,” president and CEO, Dennis She, noted.
The unit's first projects will be two solar farms of 1.1 MWp each for an unnamed investor from Antalya. It will start construction in August. The projects, developed in cooperation with Istanbul-based MEL Solar Energy Corp, will be equipped with ET Solar modules.
Upon grid-connection of these two solar systems by end-September 2015, ET Solutions Istanbul will take on the O&M for two years. It is also providing a performance ratio guarantee for the period.
Choose your newsletter by Renewables Now. Join for free!