Zorlu Energy announces merger with Alkan Geothermal Energy

Kizildere 1 Geothermal Power Plant (source: Zorlu Energy)

In a statement published in the Public Disclosure Platform, Turkish energy company Zorlu Energy (Zorlu Enerji Elektrik Uretim A.S. ) has announced that it will take over Alkan Geothermal Energy Electricity Generation (Alkan Geothermal Enerji Elektrik Uretim A.S.), a 100% subsidiary of the company.

All assets and liabilities of Alkan Geothermal Energy Electricity Generation Inc. will be taken over by Zorlu Energy. The merger will be based on the financial statements of the two companies as of December 31, 2022. Shareholders will not be entitled to leave during the transaction and Zorlu Enerji’s capital will not be increased due to the merger.

Zorlu Energy announced last year that it had established a new company, called “Alkan Geothermal Energy Electricity Generation Joint Stock Company”, with a capital share of 130 million TL . Through this company, it is aimed to establish electrical power generation, steam and heat facilities based on all kinds of renewable energy sources, including but not limited to geothermal power plants.

Source: Rota Borsa via our Turkish language platform JeotermalHaberler