{"id":42508,"date":"2026-11-13T10:00:00","date_gmt":"2026-11-13T09:00:00","guid":{"rendered":"https:\/\/eximbanka.sk\/?p=42508"},"modified":"2026-11-10T12:28:54","modified_gmt":"2026-11-10T11:28:54","slug":"it-is-very-important-to-be-able-to-choose-people-you-can-trust","status":"publish","type":"post","link":"https:\/\/eximbanka.sk\/en\/it-is-very-important-to-be-able-to-choose-people-you-can-trust\/","title":{"rendered":"It is very important to be able to choose people you can trust"},"content":{"rendered":"\n

Interview with Radovan An\u010dic<\/a>, Sales Director and Member of the Board of Directors of ELVOSOLAR, a.s.<\/a> The company has gradually evolved from its original focus on electrical engineering to become a provider of comprehensive solutions in the fields of photovoltaics and battery storage. Today, it applies its expertise even in the demanding markets of Africa and Asia, where it has implemented several educational and transformation projects. We spoke not only about these projects but also about the challenges of international expansion, the importance of trustworthy business partners, and the experiences that have shaped their approach to international business.<\/p>\n\n

1. A Brief History of the Company<\/strong><\/p>\n\n

ELVOSOLAR, a.s., is a Slovak company founded in 2009 that builds on more than 30 years of experience in the fields of electrical engineering and energy. From its original focus on electrical engineering solutions, the company has gradually shifted its focus toward renewable energy sources, primarily photovoltaics, and later also toward battery energy storage systems.<\/p>\n\n

Today, we provide comprehensive solutions ranging from technical design and engineering through technology supply and implementation to commissioning, service, and long-term maintenance. Our experience includes industrial and commercial photovoltaic power plants, high- and low-voltage infrastructure, substations, energy management systems, and large-capacity BESS.<\/p>\n\n

We have also gradually gained experience outside of Slovakia. In Afghanistan, we built two training centers for universities\u2014from project planning through implementation to the development of course materials. We built a similar training center for renewable energy at a university in Tbilisi, Georgia. We have significant experience from Kenya with a project aimed at reducing the use of diesel generators by replacing them with a combination of photovoltaics and battery storage. We have also undertaken other projects, tenders, or project opportunities in India, Uganda, Tanzania, Vietnam, Cambodia, and Laos. Currently, our largest upcoming international PV project is the one in Tanzania.<\/p>\n\n

2. When, why, and with which product or service did you begin considering expansion into foreign markets? Which territories did you target? What are the specific characteristics of those territories, and what opportunities and challenges did this bring you?<\/strong><\/p>\n\n

Expansion into foreign markets was a natural continuation of the company\u2019s development and our growing experience in implementing complex energy projects. We gradually realized that we could apply the know-how we gained in the Slovak and European markets to countries where there is significant demand for new generation capacity, grid stabilization, and the modernization of energy infrastructure.<\/p>\n\n

In international markets, we focus primarily on EPC solutions for photovoltaic power plants, BESS battery storage systems, and related HV\/LV power infrastructure, including engineering and technical consulting. Our experience spans from Europe through Africa to Asia. In Afghanistan and Georgia, for example, we built training centers for renewable energy; in Kenya, we worked on a solution combining photovoltaics and battery storage to reduce the use of diesel generators. In India, we have progressed to the signing of a memorandum of understanding for the development of a large-scale photovoltaic power plant, and we are currently preparing our largest overseas PV project in Tanzania.<\/p>\n\n

It is precisely foreign markets that have taught us that high-quality technology is only one part of a successful project. We must address the PPA (Power Purchase Agreement), financing and the customer\u2019s creditworthiness, the stability and parameters of the distribution grid, local permitting, logistics, political and currency risks, as well as the availability of qualified local suppliers. Experience has also shown us that, when it comes to international projects, it\u2019s not enough to know how to design and price the technology\u2014it\u2019s just as important to know what, where, and with whom to verify these details before implementation.<\/p>\n\n

3. What obstacles do you most frequently encounter when exporting\u2014regulation, logistics, or cultural differences?<\/strong><\/p>\n\n

In international projects, a major problem can arise even where you least expect it at the outset. A good example was the shipment of batteries for one of our projects. The manufacturer stated that the batteries could be transported by air. However, we also verified the conditions with the relevant authorities and the airline, and it turned out that, given their composition and the rules for transporting dangerous goods, it was not possible to transport them by air in this particular case. We had to change the logistics plan and arrange for ground transport, which extended the project by about a month.<\/p>\n\n

It is precisely these kinds of situations that have taught us not to rely solely on the manufacturer\u2019s or supplier\u2019s claims. When exporting, one must take into account differences in legislation, permitting processes, customs and tax issues, conditions for connecting to distribution systems, and logistics. A seemingly minor technical or administrative detail can affect the timeline of the entire project.<\/p>\n\n

Cultural differences are a separate issue. In many foreign markets, business is much more based on personal relationships than we are accustomed to in Europe. It is important to respect this, while at the same time maintaining our own rules for oversight, verifying information, and managing risks.<\/p>\n\n

4. How do you assess the competition in international markets, and how do you differentiate yourselves from it?<\/strong><\/p>\n\n

Competition in the photovoltaic and battery storage sectors is very strong and global today. Therefore, in international markets, we compete primarily through our technical know-how, flexibility, and ability to design technically and economically efficient solutions tailored to the specific conditions of each project.<\/p>\n\n

With battery energy storage systems, we often find that the customer\u2019s expectations exceed what is actually feasible given the technical constraints. BESS is currently heavily promoted as a solution to many energy sector challenges, but a battery alone is not a one-size-fits-all solution. It must be properly designed for a specific grid, connection method, and actual consumption profile. For example, it may turn out that the power grid in a given location is not stable enough, or that the consumption data on which the client based their decision does not correspond to actual operations. A system designed solely based on such initial specifications might then fail to meet even the necessary electrical engineering requirements.<\/p>\n\n

Our role, therefore, is not merely to deliver the technology the client initially envisions. First, we need to understand their actual conditions and expectations, and only then can we design a solution that is technically functional, safe, and economically sound. We consider our ability to view a project as a single, functional energy system to be one of our competitive advantages.<\/p>\n\n

5. How have your export activities changed in recent years, particularly in light of economic and geopolitical challenges?<\/strong><\/p>\n\n

In the past, when working on international projects, we focused primarily on technical solutions, cost, and implementation. Economic and geopolitical changes\u2014but especially our specific experiences with international projects\u2014have taught us to evaluate each project in a much more comprehensive way.<\/p>\n\n

Today, even in the initial phase, we review not only the technical specifications but also the partners, financing, ownership and permitting issues, political and currency risks, logistics, and the feasibility of the connection terms. Experience has taught us that a document or piece of information that appears credible at first glance does not necessarily mean that the project is actually ready to go.<\/p>\n\n

At the same time, we are increasingly focusing on comprehensive EPC projects that combine photovoltaics, battery storage, and smart energy management. The more complex the project and the more distant the market, the greater the value of thorough preparation and the ability to identify risks early on\u2014risks that, at first glance, may not even seem related to the technology.<\/p>\n\n

6. How do you manage the risks associated with exporting\u2014both political and commercial?<\/strong><\/p>\n\n

For larger international projects, we strive to clearly separate technical risk from investment and financial risk. Our role is to be a high-quality technology and EPC partner, not to automatically assume risks that belong to the investor or the project company.<\/p>\n\n

That is why we vet investors and local partners, review ownership and permitting arrangements, assess the feasibility of grid connection terms, and examine financing, bank guarantees, export insurance, and other risk mitigation tools. In managing these risks, we collaborate with banks, export credit insurers, legal and technical advisors, and also draw on the support of Slovak government institutions and diplomatic missions.<\/p>\n\n

EXIMBANKA SR is an important partner for us. When it comes to an international project, we need to know not only that it is technically feasible, but also that it is bankable, that the partner or borrower is capable of fulfilling its obligations, and that the risks\u2014which, as an EPC contractor, we cannot influence or predict in advance\u2014are adequately mitigated. Our role is to design, execute, and deliver the project to a high standard; at the same time, we need to ensure that the risk of non-payment for work properly performed is adequately mitigated. This is precisely why our collaboration with EXIMBANKA is so important to us.<\/p>\n\n

7. Do you have any partnerships with local companies in foreign markets? How do you select your foreign partners?<\/strong><\/p>\n\n

Yes. For projects outside Slovakia\u2014and especially outside the EU\u2014a high-quality local partner is a very important part of the project. They are familiar with local legislation, the utility company and its requirements, connection conditions, the parameters of the local power grid, the local business environment, and how institutions operate\u2014in other words, things that we in Slovakia cannot always determine quickly or accurately enough.<\/p>\n\n

Its importance also becomes apparent in very practical situations during implementation. You may have the core technology in place, but suddenly you need a specific type of cable, fasteners, or power tools that it doesn\u2019t make sense\u2014or isn\u2019t feasible\u2014to import from Slovakia on short notice. A good local partner knows the local suppliers and can resolve such a situation very quickly. Even seemingly minor details can determine whether the project proceeds according to schedule.<\/p>\n\n

At the same time, we have learned that a local partner must be thoroughly vetted. We have experience with a project in which we invested a great deal of time and energy; we even involved lawyers in the vetting process, only to discover later that the project had not actually been properly registered with the relevant local government agencies. Some of these institutions were unaware of the project, and the presented connection conditions were not confirmed during the vetting process. That\u2019s why today we don\u2019t evaluate a partner based solely on their contacts or stated capabilities. We\u2019re interested in their history, ownership structure, references, financial situation, and\u2014above all\u2014their ability to back up their claims with relevant and independently verifiable documents.<\/p>\n\n

8. Tell us about an interesting situation from your export history.<\/strong><\/p>\n\n

One of the most valuable lessons we\u2019ve learned is that even a project that, at first glance, appears professional and practically ready for implementation may, in reality, be based on something entirely different.<\/p>\n\n

For one international project, a consulting firm presented us with a very interesting business opportunity. The project seemed credible, had relatively detailed specifications, and at first glance looked like an ideal project. However, with projects of this scale, we do not rely solely on information from the intermediary. We therefore began to verify the information more thoroughly; we contacted the Slovak embassy and requested specific confirmations and documents from the relevant state and government institutions.<\/p>\n\n

It was only during this review that it became clear that the project had no realistic basis in the form in which it was presented to us, and serious suspicions arose that its purpose was to extract money from potential suppliers. For an exporter, a situation like this can mean a great deal of wasted effort\u2014from technical design and cost estimates to legal services and communication with banks and financial partners.<\/p>\n\n

It is precisely in situations like these that the value of experience becomes apparent. It\u2019s not enough to know how to technically design and price a project. You also need to know what to check, where to check, and with whom to check before the company invests significant time and money in the project.<\/p>\n\n

9. What advice would you give to Slovak entrepreneurs who are just planning to expand abroad?<\/strong><\/p>\n\n

First and foremost, we would recommend not relying solely on information from a single partner or intermediary. Contact the Slovak diplomatic mission in the relevant country, use the information and contacts provided by the Ministry of Foreign and European Affairs of the Slovak Republic, and for larger projects, also consult institutions that can help verify the financial and commercial aspects of the project.<\/p>\n\n

It is equally important to verify the project itself, the partners, the financing, the contractual terms, and key documents directly with the relevant local institutions. In a foreign market, a high-quality local partner can be a huge advantage, as they know the market and how local institutions operate. However, a poorly chosen partner can be just as damaging to the project.<\/p>\n\n

And finally\u2014don\u2019t be afraid to say \u201cno.\u201d A good exporter doesn\u2019t have to take every opportunity. Sometimes the best business decision is to walk away from a project that lacks credible and verifiable information.<\/p>\n\n

10. What makes a good leader?<\/strong><\/p>\n\n

In my opinion, a good leader shouldn\u2019t be afraid to take on projects that seem very challenging or even unrealistic at first. Over time, experience will teach you to recognize what is truly unrealistic and what can be made realistic through proper project planning, partner selection, and thorough preparation. To me, courage doesn\u2019t mean taking risks recklessly, but knowing\u2014based on experience\u2014which risks are worth taking.<\/p>\n\n

The ability to choose people you can trust is very important. The longer I\u2019ve been in business, the more I rely on long-term partnerships that have already been proven through shared experience. At the same time, I rely more on Slovak government institutions, the Ministry of Foreign and European Affairs of the Slovak Republic, and our diplomatic missions. They have access to information and verification resources that would often be very difficult for us to obtain as a private company.<\/p>\n\n

On the other hand, high-quality local partners are invaluable. They know the local market, how it works from the inside, and how local institutions operate, and they can steer the project in the right direction. However, a poorly chosen partner can also significantly harm it. That is why I consider the ability to choose the right people, to know whom to trust, and at the same time to maintain a healthy degree of control to be one of the most important qualities of a leader.<\/p>\n\n

Faith gives a project its start, vision gives it direction, and experience combined with courage helps turn it into reality.<\/em><\/strong><\/p>\n\n

Thank you for the interesting interview.<\/p>\n\n

Photo: Luk\u00e1\u0161 Kl\u010do<\/a>.<\/p>\n\n

We also spoke with Radovan An\u010dic during our Export Club event, where we focused on the Southeast Asian region. <\/strong>You can find the full <\/strong>interview on our YouTube<\/a> channel.<\/p>\n\n

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