MUNICH, Aug. 6, 2015 /PRNewswire/ -- ET Solar, a leading clean energy developer, announces that its wholly-owned subsidiary ET Solutions AG (ET Solutions) has founded a Turkish subsidiary, ET Solutions Istanbul, to make a long-term commitment to the local PV market. The investment is paying dividends, as the company recently concluded term sheets with investors for significant PV projects in Turkey. ET Solutions Istanbul will provide Engineering, Procurement, and Construction (EPC) as well as Operations & Maintenance (O&M) services for these projects.
Construction of the first two projects, 1.1 MWp each, for an investor from Antalya, is scheduled for August, 2015. Both projects are expected to feed the grid at the end of September, 2015. Aiming to satisfy all its investors' needs, ET Solutions Istanbul has also secured a two-year O&M contract. And because of its confidence in the high quality of its delivered PV plants, the company will give the investors a performance ratio guarantee for the respective years.
Tier 1, high-quality ET Solar modules will be installed at these two plants, and the projects will be based on German engineering from the EMENA headquarters in Munich, Germany. The projects have been developed and secured partly in partnership with MEL Solar Energy Corp., a local Istanbul company that ET Solutions has had a strategic partnership with since April, 2014.
In addition to these developments, ET Solutions Istanbul is in the final stages of negotiation with leading investors and customers for other PV projects. Overall, the company expects to begin construction of up to 50 MWp of solar plants in Turkey this year.
Dennis She, ET Solar's President and CEO, said, "I am delighted that ET Solutions is starting its first two EPC projects in Turkey, following the establishment of our Turkish subsidiary. With our local company and experienced staff, ET Solutions will be able to guarantee efficient project execution and full support to customers and partners.
"In addition to EPC services, ET Solutions is also able to offer project financing from Turkish and international banks, as well as the ability to expedite TEDAS approvals and permits. By taking care of every step in the process, ET Solutions offers end-to end, turn-key projects. Both investors and customers are in good hands with ET Solutions."
About ET Solar and ET Solutions
ET Solar is a leading clean energy developer. With innovative solar technologies and tailored financial solutions, ET Solar provides professional one-stop solutions across the entire solar power plant lifecycle including development, financing, engineering, procurement, construction, and operations & maintenance. To learn more about ET Solar and ET Solutions, please visit http://www.etsolar.com and http://www.etsolutions.de.
ET Solar's Munich headquarters
Vice President, ET Solutions AG
ET Solutions Istanbul
Country Manager, Turkey
EPC Business Development Manager
SOURCE ET Solar