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Turkish energy firm Zorlu has finalized the sale of its 150MW Gokcedag Wind Energy unit to Ronesans Renewable Energy Investment for $117 million in cash, continuing its asset divestment strategy amid mounting debt.
According to a company disclosure, the sale proceeds will be used to support new investments and reduce financial liabilities, aligning with Zorlu Holding’s broader strategy to streamline its portfolio and strengthen its financial position.
The Gokcedag wind farm is an onshore wind power plant located in Türkiye’s Mediterranean province of Osmaniye, comprising 54 wind turbines with an upgraded authorized capacity of approximately 150.6MW. When producing at typical levels, the wind farm generates more than 300 million kilowatt‑hours (kWh) of electricity annually.
The facility was inaugurated in 2009 with a €200 million ($235.52 million) investment by Zorlu Energy and was the largest wind power plant in Türkiye at the time.
The sale comes as part of Zorlu Holding’s broader debt restructuring plan, aimed at reducing the group’s financial burden through asset sales, as net financial debt stood at ₺176.10 billion ($5.37 billion) by the end of 2024.
Zorlu Energy, one of the conglomerate’s core subsidiaries, remained among the top loss-making companies in the first nine months of 2025, posting a net loss of ₺4.5 billion and net liabilities of ₺73.98 billion.
Earlier in 2025, Zorlu Energy also sold its 25% stake in the Dorad Power Station in Israel, an 840MW combined-cycle natural gas facility and one of the country's largest independent power producers, for $84.5 million.
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