“While building trust in our technology and solutions, we aim contributing to a more sustainable and greener future”
FIAA: In our last General Assembly, we got to know you through your impressive candidature speech and your charisma. What is your background, Philipp?
Mr. Koronowski: I hold a degree in electrical power engineering and business administration, specializing in renewable energy technologies from RWTH Aachen University—one of Europe’s premier institutions for electrical engineering. It was here that I met my friend Bruno, who would become my business partner. Together, we envisioned starting a solar construction company in Albania, attracted by its untapped market potential and abundant solar production capabilities. My initial visit to Albania as a tourist solidified my commitment to this venture. Prior to founding Vega Solar, Bruno and I improved our competence in Germany, working across various residential, commercial, and industrial solar projects. This experience equipped us with the essential practical knowledge to establish and grow our business in Albania.
While in a process of rapid growth, Vega Solar has undergone quite a few changes in its structure. We recently heard about the creation of VEGA Group. Could you share in a nutshell what these changes are and what your intentions behind it?
Our venture began with Vega Solar, focusing primarily on EPC turnkey services for solar projects, especially in rooftop installations, in a then-undeveloped market. Over the past five years, our company has seen remarkable growth. While continuing to serve the rooftop/self-consumption sector, we have expanded our reach to include utility-scale projects over the last eighteen months. To optimize our operations, we restructured our services into distinct entities, each functioning independently yet synergistically, leading to the transition from Vega Solar to VEGA GROUP. This new structure comprises:
- VEGA Solar: EPC for rooftop/ self-consumption projects.
- VEGA Energy: EPC for utility-scale projects/ solar parks.
- VEGA Electric: Dedicated to operation and maintenance services.
- VEGA Charging: Aiming to establish the largest EV charging infrastructure in Albania.
Looking ahead, we plan to diversify further into the EV charging market and explore expanding our photovoltaic operations beyond Albania. All these initiatives will be managed under the umbrella of VEGA Group.
As a quite young company operating in the energy field, you place a lot of emphasis on marketing. What is the rationale behind this?
In a marketplace where understanding of renewable energy solutions is growing, marketing plays a crucial role in differentiating ourselves and establishing our brand image. Our goal is to build something that is both significant and sustainable. We are concentrating on VEGA’s trajectory over the next 20 to 30 years. Therefore, branding and the company’s image are paramount. That’s why we heavily emphasize marketing; we do not wish to be recognized merely as an EPC turnkey service provider of solar projects but as a leader in sustainable and renewable solutions.
We believe it’s essential to communicate not just the benefits of our products and services but also the long-term value they bring to consumers and the planet. Through focused marketing efforts, we aim to enlighten consumers about the advantages of solar energy and sustainable choices, while building trust in our technology and solutions. This approach not only helps in increasing our market presence but also encourages a broader shift in public perception towards renewable energy, contributing to a more sustainable and greener future.
How has Albania’s business climate supported or hindered your business growth? Would you recommend Albania to other investors in the photovoltaic field?
The rapid growth of our company, scaling to over 100 employees within just five years, is a testament to the favorable business climate in Albania. The country’s potential in the renewable energy sector, particularly in photovoltaics, is immense. For investors willing to navigate the initial complexities, Albania presents substantial opportunities for growth and impactful contributions to the renewable energy landscape. I strongly recommend it to potential investors, given its excellent solar power production capabilities, competitive installation costs, and advantageous market conditions.
You have joined FIAA recently. What do you expect from the membership in this business organization in support of your business?
The Foreign Investors Association of Albania (FIAA) is an indispensable organization for investors aiming to expand in Albania. It encompasses key stakeholders from various sectors, offering a robust network for business connections. Our involvement in the energy sector makes these interactions especially valuable.
We have dual expectations from our membership with FIAA. Firstly, we plan to benefit FIAA’s extensive network to foster partnerships that will propel our renewable energy initiatives throughout the region. Secondly, we expect that FIAA’s advocacy efforts will help shape a more valuable regulatory framework for renewable energy investments.
Such advancements are likely to streamline project implementations and enhance the sustainability of Albania’s energy landscape. We are also eager to engage in FIAA’s diverse programs and workshops, which are excellent venues for sharing ideas and industry best practices. We are optimistic about the prospects of our collaboration with FIAA.