Zorlu Energy Electricity Generation Inc. has signed a joint venture agreement with Sharekat Kahrabaa Muhafazat AL-Quds AL-Urdineyyah (Sharekat) to establish solar and wind power plants in Palestine.
According to Zorlu's statement released through the Public Disclosure Platform (KAP), Zorlu and Sharekat will respectively have a 75 percent and a 25 percent share in the new company to be established under the agreement.
The statement read that partnership negotiations launched under a previously signed goodwill agreement between Zorlu and Jerusalem District Electricity Company Ltd. (JDECO) to establish and operate solar and wind power plants in Palestine have been completed, continuing: "A joint venture agreement has been signed with Sharekat in which the shareholders of our company and JDECO have the shares of the same ratio and structure. Under the agreement, we plan to establish solar power plants of a total of 100 megawatts, with 30 megawatts being in the first place, in different parts of Palestine in order to meet the electricity requirement of the country from solar energy."
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