Zorlu Enerji sells EV charging stake to Wren House for $148M
What's the deal? Turkish energy company Zorlu Enerji has agreed to sell its entire 41.28% stake in electric vehicle charging venture ElectripDealroom has a profile for this one. Try Dealroom → Global Limited for $147.6 million. The buyers are infrastructure investor Wren House Infrastructure LPDealroom has a profile for this one. Try Dealroom → and the Kuwait Investment AuthorityDealroom has a profile for this one. Try Dealroom →, Kuwait's sovereign wealth fund. The share purchase agreement was signed on October 19, 2026, with completion planned for October 22.
What does Electrip do? Founded in 2023 as a joint venture between Zorlu Enerji and Wren House, Electrip installs and manages charging infrastructure across Europe. It operates more than 1,300 charging stations in Italy, Poland, Greece, Bulgaria, France, and Croatia, plus more than 5,000 charging points in Türkiye under the ZESDealroom has a profile for this one. Try Dealroom → brand.
Why now? The sale caps a steady retreat from the venture. In May, Zorlu Enerji declined to contribute €7.4 million to an Electrip capital increase, and in September it set aside just €2.5 million for the business. The exit transfers control to investors already on the cap table.
What's the endgame? Zorlu Enerji says the proceeds will fund ongoing and planned capital expenditure and repay some financial obligations, making this as much a balance-sheet move as a portfolio exit.
The numbers behind the pressure: The company carried US$12.4B in borrowings at the end of the first half of 2026, leaving net debt near US$11.9B. Revenue fell to US$2.65B from US$3.52B a year earlier, though the net loss narrowed to US$1.22B from US$2.24B. Moody's cut its credit rating in September.
The signal: With EV charging still drawing capital for expansion, this looks less like a rejection of the sector than a transfer of ownership — from a debt-pressured utility to infrastructure investors ready to keep building.
Read more: europesays.com
Image credit: Ivan Radic
