Turkish energy company CW Enerji A.Ş. acquired all the shares of SEAC Invest Proje company and SEAC Projekt GmbH, which have 16 project companies within SEAC Holding, one of the most important renewable energy systems project production (Solar Energy Systems) companies in Germany, for EUR 100 million.
CW Enerji targets a turnover of EUR 2 billion in by 2030.
Tarık Sarvan, Chairman of the Board of Directors of CW Enerji A.Ş., which operates in Antalya Organized Industrial Zone, gave information about their 2024 targets in his statement. Stating that they have turned to new investments to become a global company and that they have realized the first investment in this regard in Germany, Sarvan noted the following:
“The established company CWSE Group GmbH has taken over the shares of SEAC Holding GmbH in a total of 16 solar project companies and SEAC Projekt GmbH, a company engaged in the development of solar power plant projects, for EUR 100 million. Of these project companies, Invest 6, Invest 7, Invest 10 and Invest 20 are already in operation and have a generation capacity of 31.92 MW.”
Pointing out that SEAC Projekt GmbH has a total project capacity of 1,656 MW, Tarık Sarvan said that they have also taken over the battery storage projects of these projects.
Explaining that SEAC Holding is an experienced company that has been carrying out renewable energy activities in Germany for a long time, Sarvan said.
”SEAC Holding is a highly experienced company in the development and construction of solar power plants. SEAC Holding is one of the leading companies in this field in Germany with 1.4 GW of plants built and 5.4 GW of solar power plants under development. Creditreform recognizes SEAC Holding as one of the companies with the strongest credit rating in Germany.”
Emphasizing that Germany is the locomotive of renewable energy and is a pioneer in many countries in the field of investment, Sarvan continued as follows.
”The income to be generated from this project will also provide foreign currency inflow to our country. In addition, this partnership of our subsidiary and the project development processes provide our company with serious know-how. In addition, with this investment, we aimed to reduce the national and global risk related to our company’s sources of income and to diversify export and market resources and revenues. As we develop projects in Germany, our team will acquire know-how in the process and thus we will become stronger in terms of knowledge and experience. With the use of our CW Enerji branded panels in Germany and Europe, we will increase the global brand value and awareness of CW Enerji.”
Long-term government purchase guarantee
Explaining the reasons for investment in Germany, Tarik Sarvan pointed out that this country provides a long-term government purchase guarantee, has low finance costs, and therefore SPPs have a more financially balanced feasibility. Sarvan continued as follows:
”In Germany, there are two models called EEG and PPA regarding the production of SPPs. The German state can provide a 30-year purchase guarantee for solar power plants for approximately 20 + 10 years in total. Within the framework of this opportunity, it will be possible to use cost-effective long-term loans from banks in Germany. With this investment, we will create a regular source of income for our company by avoiding national and global risks and possible negativities as much as possible. Thus, we will have a sustainable income.”
We will be a global company
Stating that they have established a company in the USA after Germany and that they dream of investing in Africa and the Turkish Republics, Tarik Sarvan said, ” These projects to be developed in Germany could be the beginning of our globalization and worldwide activities. We may also have plans for solar energy projects in other countries in Europe and the USA.
2 billion Euro turnover target
Stating that they export to nearly 60 countries around the world and that there are nearly 2 thousand employees in the factory in Antalya OSB, Sarvan said, “Our production base will be Antalya and Turkey. We are targeting a turnover of 2 billion Euros by 2030 with the SPP investments and production we will make in Germany. In 2023, despite all the negativities in our country and in the world, we are very happy as a company. The measures to be taken by the EU against the economies of Far East countries will contribute to our SPP investments in Germany.
Carbon footprint will be reduced
Stating that they will take a serious role in preventing global warming by reducing the carbon footprint in the world with SPP investments, Tarık Sarvan concluded his words as follows.
”SPPs have a very important value in reducing the carbon footprint. With the realization of these SPPs, a very effective step will be taken in reducing the carbon footprint. When a 1,656 MW SPP is installed, the annual avoidable CO2 emission is approximately 850,223,520 kg. The average number of trees saved annually corresponds to 128,355 trees.”