The ZJ Strong venture firm was founded this past May with Zorlu Enerji having a 75 percent share and JDECO having a 25 percent share. It took its first step toward building a solar energy power station with 1.8 MW of installed power in the Jericho region of Palestine. In the scope of the agreement, Zorlu Enerji will build the solar energy power station over the plot of land rented from JDECO with the ZJ Strong company and will sell the electricity it produces from the power station for 25 years at the guaranteed price to JDECO.
Zorlu Enerji, a pioneer in Turkey’s local and renewable energy sector, and JDECO (Jerusalem District Electricity Company), the electricity company that distributes 25 percent of the electricity in Palestine, signed a new agreement to provide electricity for the region. The signing ceremony for the agreement that laid out the founding of a solar energy power station that will have 1.8 MW of installed power in the Jericho region of Palestine was held at the Palestine Energy and Natural Resources Authority in the West Bank on Wednesday, August 28. It was attended by chairman of the Palestinian Energy and Natural Resources Authority Zafer Milhem, Zorlu Enerji CEO Sinan Ak, Vice Consul of Turkey in Jerusalem İhsan Eralp Semerci, JDECO General Manager Hisham Omari, and Bank of Palestine General Manger Hashim Shawa.
Zorlu Enerji CEO Sinan Ak made statements regarding the topic. “As Zorlu Enerji, we continue to transport internationally our accumulated knowledge and experience from more than 25 years with renewable energy projects,” he said. With our company ZJ Strong (ZJ Strong Energy for Renewable Energy Ltd. Co.) that we founded through a partnership with JDECO to meet the energy needs of the region through solar power stations in line with this vision, we will establish a solar energy power station with 1.8 MW of installed power in the Jericho region of Palestine. We aim to access a total of 100 MW of installed power, with 30 MW in the first stage, to provide electricity to the region. We want to further increase our international strength with the international investments we will make for various renewable energy projects, particularly solar.” Palestinian Energy and Natural Resources Authority Zafer Milhem noted that they were very pleased with the agreement. “The friendship between Turkey and Palestine will move to a greater dimension with this agreement,” he said. “Seeing the friendship between the two countries in projects that develop the processes of trade and investment makes us very happy. We have started meetings with Zorlu Enerji and JDECO about the further establishment of a solar energy power station with 5 MW of installed power in the long view. We will continue to conduct work partnered with Turkey.”
Zorlu Enerji also signed a loan agreement in the amount of 5 million Israeli Shekels (ILS) to be used in the financing of power station investments.