Turkey Zorlu Energy opened a branch and established a new company in Palestine to operate in renewables and other energy fields, the company announced on Wednesday.
The company, named ZJ Strong Energy For Renewable Energy Ltd. Co., was founded with a capital of 10 thousand Jordanian Dinars (US$14,114), according to the company's statement on Turkey's public disclosure platform.
To meet Palestine's electricity needs, the newly established company plans to install solar power plants in different regions of the country.
Zorlu Enerji Elektrik Uretim A.S. has a 75% stake in the company, while Jerusalem District Electricity Co. Ltd. (Sharekat Kahrabaa Mohavazat Al-Quds Al-Urdineyyah) owns the remaining share.
By Firdevs Yuksel