Developer and PV plant services company Phoenix Solar has followed news of a 300% jump in year-on-year revenues with the award of six projects in Turkey.
Phoenix Solar will carry out engineering and procurement duties, though not construction, for the six PV plants in central Anatolia, which will have a combined generation capacity of 6.9MWp. Construction will be carried out by a local subsidiary of Madrid-headquartered Asunim Group.
Frankfurt Stock Exchange listed Phoenix and Asunim Yenilenebilir Enerji Teknolojileri signed a strategic partnership agreement in June to try and take on Turkey’s emerging solar market in what the two companies called a “crucial market phase”. In a statement at the time, Asunim had said the potential for PV in Turkey meant the country is “going to experience considerable development of solar system installations in the near future”.
Asunim took on the early development stages of the six latest projects, while Phoenix Solar has prepared the sites, in central Anatolia’s Kayseri city. The 6.9MWp of plants will use Yingli Green modules and Advanced Energy inverters. They are scheduled to be completed before the end of this year.
Phoenix Solar reported its quarterly earnings at the beginning of the month. The company said a strong showing in the US EPC (engineering, procurement and construction) sector had contributed to second quarter revenues 300% above the prior-year period.
Interest in Turkey's PV market
Turkey’s PV market has been discussed with increasing interest, especially for developers based in Europe which, due to dwindling policy support and other reasons, have seen their opportunities in the ground mounted segment in particular limited in recent times. At this year’s Intersolar Europe in June, many industry sources namechecked Turkey and the UK among the markets of most interest at the moment. Germany has imposed a cap on large-scale solar for instance, allocating projects through a competitive tender process.
In February, PV Tech reported Turkey had set a 5GW target for PV deployment by 2023. Despite this meaning the target was raised by 2GW from a previously set benchmark, the goal was expected to disappoint some developers and PV manufacturers, since the country’s potential as a hot market for solar has been discussed by analysts and industry figures on numerous occasions.
Several big international players such as Canadian Solar, ET Solar, Juwi and Conergy have all either entered the Turkish market this year or been involved in significantly sized projects there.