Turkish Zorlu Holding to pour USD 1bn in renewable energy, other projects

Jan 4, 2012 - Turkish conglomerate Zorlu Holding AS is to spend over USD 1 billion (EUR 767m) in 2012 on wind and geothermal power projects, mining, real estate and home appliances, Anatolia news agency said, citing chairman Ahmet Nazif Zorlu.

Zorlu Holding is involved in a number of industries including consumer electronics, household appliances, real estate and conventional and renewable energy.

Near the end of December, the company's unit Zorlu Enerji (IST:ZOREN) signed a 20-year power purchase agreement (PPA) for the output of a 56.4-MW wind farm in Pakistan with National Transmission and Despatch Co (NTDC) and the Alternative Energy Development Board of Pakistan.

(USD 1.0 = EUR 0.767)

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