The Turkish group announced Energy Holding Zorlu announced the signing of agreements to sell its shares in 3 Israeli companies, amid widespread protests to push the company to withdraw its investments in the occupying state.
These companies are:
- “Isotec Electric Co., Ltd.”
- Solid Energy Limited,
- Adnet Properties Limited.
Zorlu has a direct stake of 42.15% in each of them.
Zorlu Holding is the largest capital holder among the Turkish investment companies located in Israel With an investment estimated at one billion dollars.
Zorlu works specifically in the field of electrical energy, and owns 3 different electricity generation plants in Israel with an ownership percentage of 51%.
It continues to establish new electricity generation projects, especially wind energy. Upon completion of these projects, it was scheduled to become the main producer of more than 7% of Israeli electricity.
In justification for the decision, the company’s CEO, Sinan Ak, stated that it comes within the framework of the company’s policy to focus on green transformation projects, indicating that the company seeks to be a leader in the transition towards renewable energy, energy efficiency and electricity, in line with its commitments to reducing carbon.
He said, “We have multiple investments in different regions of the world, including gas power plants in Israel. According to our strategy of investing in renewable energy sources in line with the world’s changing needs, we were working to exit gas operations without affecting our investors.”
Sinan Ak added: “After selling our operations in the field of gas supply and distribution in Turkey, we completed the signing of agreements to sell our shares in the companies “Isotec”, “Solad”, and “Adnet” in Israel. With this agreement, ownership of the “Ashdod” and “Ramat” stations will be transferred. Negev Gas Energy Company to Idealtec Limited.
He continued: “We reaffirm our commitment to allocating resources to investments that reduce our environmental impact and promote a lifestyle more harmonious with the environment.”
Popular pressure
The company’s decision to abandon its investments in Israel came in the wake of major popular campaigns and ongoing protests since the start of the Israeli aggression against Gaza stripIn protest against its continued trade relations with the Israeli occupation.
Calls to boycott the company’s products topped social media platforms in Turkey, after a protest demonstration organized by activists at the Zorlu shopping center in Istanbul, where they denounced the Turkish company’s continued supply of electrical energy to the settlements.
In a related context, he directed the students of the Turkish University of Bahçeşehir Sharp criticism Embarrassing questions were asked to the company’s president while he was attending a university conference, and they said, “How many people will die in Gaza because of the electricity you produce? Answer this! All you are doing is being with the killers.”
The boycott campaigns are led by the “A Thousand Youth for Palestine” movement, by organizing protests and vigils calling on the company to sever its ties and stop all its joint activities with Israel.
Bushra Karadag, an activist in the “A Thousand Youth for Palestine” movement and one of its organizers, confirmed to Al Jazeera Net that the recent decision, although a positive step, is insufficient.
She says, “We have demonstrated during the past seven months in all Turkish cities where the company has headquarters.”
Karadag adds that there are companies that are still outside the sale process, such as “Zorlu Israel Ltd.,” “ZG Strong Energy,” “Zador Energy,” and the largest company it owns in partnership, which is the “Dorad” natural gas conversion station that produces electricity directly for the Israeli Ministry of Defense.
She stressed that the protests and means of pressure will continue until the company completely cuts off its presence and relations with the Israeli occupation, noting that the movement aims to achieve an actual and tangible impact to save the lives of Palestinians in the Gaza Strip.
Previous official steps
In early May, the Turkish Ministry of Trade announced the suspension of all its commercial transactions with Israel, in light of what the ministry described as the “worsening humanitarian tragedy” in the Palestinian territories, stressing that Turkey would not back down from its decision until it ensured an uninterrupted and sufficient flow of humanitarian aid. To Gaza.
The decision came after Turkey, at the beginning of last April, banned the export of 54 products to Israel, as part of pressure on the occupation government to cease fire in the Gaza Strip.
Al Jazeera Net has been monitoring the most prominent Turkish decisions against Israel since Al-Aqsa flood:
- Turkey suspended plans to cooperate with Israel in the field of energy, and Turkish Energy Minister Alp Arslan Bayraktar canceled a scheduled visit to Israel on October 25, 2023.
- Türkiye excluded Israel from the list of countries targeted for export, last December 2023.
- Türkiye obstructed exports to Israel by delaying or not approving them in late April.
- Following the outbreak of Israel’s war on Gaza, Turkish Airlines announced the suspension of its flights to Israel until October 2024.
- Turkish Airlines has canceled advance online booking for its flights to Israel until March 2025, which means the company may have extended the decision by an additional 5 months.
- On April 9, Türkiye announced a restriction on the export of 54 products to Israel.
- On May 2, Türkiye announced the suspension of all commercial transactions with Israel.
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