7/22/2025
Zorlu Energy has completed the sale of its minority stakes in natural gas power plants in Israel, fully terminating all electricity generation and sales operations in the region.
As one of Turkey’s leading renewable energy companies, Zorlu Energy has taken a significant step in line with its strategy to focus on sustainable energy. The process began last year with the transfer of its shares in the Ashdod and Ramat Negev Natural Gas Power Plants. This was followed by the completion of the sale of its 25% stake in Dorad Energy Ltd., a process initiated in March 2025. With this transaction, Zorlu Energy has finalized its exit from all energy investments in Israel.
Commenting on this strategic decision, Zorlu Energy CEO Elif Yener stated:
“We have completely withdrawn from our energy investments in Israel. This step also serves as a strong indication of our commitment to ending fossil fuel-based investments. With our vision to be the energy company of the future, we aim to lead the transformation of the sector. We will continue to channel all our resources and efforts into growth in renewable energy, R&D, and future energy technologies. Zorlu Energy operates as an integrated entity encompassing electricity generation, sales, trade, and distribution, solar panel trade, as well as the installation and operation of electric vehicle charging stations. Reducing our carbon footprint, producing environmentally friendly solutions, and increasing resource diversity are among our top priorities. For this reason, we supply 100% of our electricity generation in Türkiye from renewable sources and invest exclusively in renewable energy and solutions within our integrated structure.”
Zorlu Energy’s Public Disclosure (KAP):
“Within the scope of our special circumstance disclosures dated 06.03.2025, 17.04.2025, and 14.07.2025 regarding the sale of all our shares in Dorad Energy Ltd. ("Dorad"), representing 25% of Dorad's share capital:
The sale of our remaining 15% stake—corresponding to 1,596 shares with a nominal value of 1 New Israeli Shekel (NIS) each, which were subject to the preemptive rights of Dorad's existing shareholders—has been completed at a price of 424,412,664 NIS to Ellomay Luzon Energy Infrastructures Ltd., at the same per-share value as the 10% stake previously sold to the Phoenix Group, due to Edelcom Ltd.’s failure to obtain the necessary legal permits within the required time under the share purchase agreement.
The final sale price will be determined following adjustments related to taxation.
With the sale of all our shares in Dorad, all our activities related to electricity generation and sales in Israel have come to an end.
Respectfully announced to the public.”