IBC SOLAR takes over project business and franchise partners of KosiFrankensolar in Turkey

Bad Staffelstein, January 27, 2015 – IBC SOLAR AG, a global leader in photovoltaic systems, is expanding its position in the international market. It is enhancing its project and commercial business by taking over KosiFrankensolar and a widespread network of franchisees in Turkey. The activities conducted to date by the Turkish subsidiary of IBC SOLAR will be aligned with the new acquisition in the first quarter.
 
With IBC SOLAR, the Turkish project customers and franchisees of KosiFrankensolar have a strong and reliable partner who will help them enhance their position in the local market. In the future, the company will be managed as a subsidiary of IBC SOLAR located in Istanbul. It offers its customers and franchisees professional support, profound project business knowhow, high quality and purchasing expertise as well as extensive services of a system house with long-standing experience.
 
"KosiFrankensolar is one of the most experienced players in the Turkish photovoltaic market. With IBC SOLAR at its side, the franchise network will profit from one of the largest and most successful system houses and a strong brand. We support our Turkish partners with high-quality products, international expertise and a comprehensive service portfolio," explains Jörg Eggersdorfer, CFO of IBC SOLAR AG.
 
For IBC SOLAR, the Turkish market is one of the most strategic growth markets in 2015. On a global scale, the system house offers the development, marketing and management of major PV projects, and  provides handling and commissioning of solar projects as an EPC service provider (engineering, procurement, construction). As a result of the strategic expansion through the franchise network, IBC SOLAR has a comprehensive presence in Turkey.
 
As managing directors, Bülent Yildiz and Hakan Daltaban, along with Christopher Wikberg (IBC SOLAR AG) will be responsible for IBC SOLAR's activities in Turkey. The company will, in particular, focus on licence-free projects of up to 1 MW (megawatts). The emphasis of the company's activities will primarily be on the EPC and project business where IBC SOLAR is also taking over a secured project pipeline as a result of the new acquisition.
 
"With our independent franchise partners, we are ideally positioned in Turkey," explains Bülent Yildiz, Managing Director of KosiFrankensolar. "IBC SOLAR AG contributes more than 30 years of experience and leading local expertise to the strategic merger, while we have a very high profile in the Turkish market. We have already been able to implement a large number of projects in Turkey and have many more in the pipeline. We are especially proud of reference projects which ideally combine the benefits of solar power generation with the local building specifications. For example, a PV system with an output of 66 kWp realised in 2013 which is the first major solar project on a school building. We look forward to being a strong and reliable partner for our customers and franchisees in the growing Turkish solar market."
 
Captions:

(1) 66 kWp PV system for self-consumption on the roof of a Turkish school. Source: KosiFrankensolar 2013.
 
(2) Contract signing (from left): Hakan Daltaban (KosiFrankensolar), Dr. Stefan Golla, Jörg Eggersdorfer (both IBC SOLAR AG) and Bülent Yildiz (KosiFrankensolar). Source: IBC SOLAR AG