South Africa is an attractive solar market with rapid market growth and high demand for solutions for its own power supply. We want to seize these opportunities and, as a further milestone in our internationalization strategy have now founded a separate subsidiary in South Africa as of mid-September 2016. The business activities will focus on the retail business in the Residential and Commercial segments up to 5MW.
The new subsidiary is a joint venture between IBC SOLAR AG and our exclusive partner "maxx-solar & energy (Pty) Ltd." and are based in both Cape Town and Johannesburg. Our joint venture partner provides us with existing customer relationships, a lot of experience in the South African PV industry and competent employees, who we will take over to our subsidiary.
Albert Engelbrecht and Dieter Ortmann (maxx-solar) have already appointed a local General Manager, Mr. Daniel Haitzler. Mr. Haitzler will be supported by a technical sales team in both locations.