Zorlu Energy to exit Israeli power plant investment

The Jerusalem Post highlighted that 25% of the shares in Dorad Energy, which provides electricity to Israeli Defense Forces (IDF) bases, are owned by Türkiye’s Zorlu Energy. In response, Zorlu Energy issued a statement announcing its plans to withdraw from its partnership in the Dorad Natural Gas Plant.

The company’s statement read:

In May, we completed the signing of contracts for the sale and transfer of our shares in the Ashdod and Ramat Negev Natural Gas Power Plants in Israel, and we shared this information with the public. However, as a 25% minority shareholder in the Dorad Natural Gas Power Plant, we do not have the authority to make or influence any decisions. It is not possible for us to affect any decisions taken by the majority shareholders in the plant, which is governed by Israeli law.

Zorlu Energy

Zorlu Energy also expressed its discomfort with the ongoing conflict in Gaza, stating, “For 30 years, our company has been operating in Türkiye, contributing to the country’s economic and social development plans in strategic areas such as the energy sector. We hope that comments and accusations directed at our company and our group of companies will be evaluated with reason. Like our entire country, we are deeply saddened by the suffering of innocent civilians, and we sincerely wish for peace to be achieved as soon as possible.”

The company further announced its readiness to exit its investment in the Israeli plant, stating, “We are continuing our efforts to divest our shares in the Dorad Plant from our portfolio as soon as possible, considering our investors and all stakeholders. We will keep the public fully informed of developments as they occur.”