Zorlu Energy, one of Turkey's leading energy firms, has established a new company in Palestine, according to a statement published on the Public Disclosure Platform (KAP).
The new company, set up with a capital of 10,000 Jordanian dinars ($14,104), in Palestine will operate in renewables and other areas of energy, the statement said.
Zorlu Energy has a 75 percent stake in the company named ZJ Strong Energy For Renewable Energy Ltd. Co., while the remaining 25 percent is owned by Jerusalem District Electricity Co. Ltd. (Sharekat Kahrabaa Muhafazat AL-Quds AL-Urdineyyah). Zorlu previously said the company will establish solar power plants with an installed capacity of 100 megawatts (MW) - 30 MW in the first phase - in different parts of Palestine in order to meet the electricity requirement of the country from solar energy.
Operating with an installed capacity of 815 MW in Turkey, Zorlu Energy made its first investment abroad in Pakistan in 2009, building the country's first wind power plant.
The company is currently building one 100 MW and a 200 MW solar power plants, and a 30 MW wind power plant in Pakistan. Once completed, Zorlu's total renewable capacity in Pakistan will reach 447 MW.
The company is also in the process of developing a 590 MW solar power plant project in Kazakhstan.